Ci Canadian Banks Etf Market Value
| CIC Etf | CAD 12.28 0.04 0.33% |
| Symbol | CIC |
CI Canadian 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to CI Canadian's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of CI Canadian.
| 02/09/2023 |
| 11/30/2024 |
If you would invest 0.00 in CI Canadian on February 9, 2023 and sell it all today you would earn a total of 0.00 from holding CI Canadian Banks or generate 0.0% return on investment in CI Canadian over 660 days. CI Canadian is related to or competes with Celestica, Descartes Systems, Hamilton MidSmall, CI Canada, and BMO Mid. The ETFs investment objectives are to provide Shareholders with quarterly distributions the opportunity for capital appr... More
CI Canadian Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure CI Canadian's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess CI Canadian Banks upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3684 | |||
| Information Ratio | 0.1009 | |||
| Maximum Drawdown | 2.27 | |||
| Value At Risk | (0.42) | |||
| Potential Upside | 0.7972 |
CI Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CI Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CI Canadian's standard deviation. In reality, there are many statistical measures that can use CI Canadian historical prices to predict the future CI Canadian's volatility.| Risk Adjusted Performance | 0.3179 | |||
| Jensen Alpha | 0.1499 | |||
| Total Risk Alpha | 0.0997 | |||
| Sortino Ratio | 0.1158 | |||
| Treynor Ratio | 1.06 |
CI Canadian Banks Backtested Returns
As of now, CIC Etf is very steady. CI Canadian Banks retains Efficiency (Sharpe Ratio) of 0.4, which signifies that the etf had a 0.4% return per unit of price deviation over the last 3 months. We have found twenty-nine technical indicators for CI Canadian, which you can use to evaluate the volatility of the entity. Please confirm CI Canadian's Variance of 0.1787, market risk adjusted performance of 1.07, and Standard Deviation of 0.4227 to double-check if the risk estimate we provide is consistent with the expected return of 0.16%. The etf owns a Beta (Systematic Risk) of 0.16, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CI Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding CI Canadian is expected to be smaller as well.
Auto-correlation | -0.38 |
Poor reverse predictability
CI Canadian Banks has poor reverse predictability. Overlapping area represents the amount of predictability between CI Canadian time series from 9th of February 2023 to 5th of January 2024 and 5th of January 2024 to 30th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of CI Canadian Banks price movement. The serial correlation of -0.38 indicates that just about 38.0% of current CI Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.48 |
CI Canadian Banks lagged returns against current returns
Autocorrelation, which is CI Canadian etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting CI Canadian's etf expected returns. We can calculate the autocorrelation of CI Canadian returns to help us make a trade decision. For example, suppose you find that CI Canadian has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
CI Canadian regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If CI Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CI Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CI Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
CI Canadian Lagged Returns
When evaluating CI Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CI Canadian etf have on its future price. CI Canadian autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, CI Canadian autocorrelation shows the relationship between CI Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in CI Canadian Banks.
Regressed Prices |
| Timeline |
Pair Trading with CI Canadian
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if CI Canadian position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in CI Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with CIC Etf
| 1.0 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.99 | XFN | iShares SPTSX Capped | PairCorr |
| 0.86 | ZBK | BMO Equal Weight | PairCorr |
| 0.98 | HCA | Hamilton Canadian Bank | PairCorr |
| 0.85 | ZUB | BMO Equal Weight | PairCorr |
Moving against CIC Etf
The ability to find closely correlated positions to CI Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI Canadian when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CI Canadian - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CI Canadian Banks to buy it.
The correlation of CI Canadian is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Canadian Banks moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for CI Canadian can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in CIC Etf
CI Canadian financial ratios help investors to determine whether CIC Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in CIC with respect to the benefits of owning CI Canadian security.