Cibc Qx International Etf Market Value
| CQLI Etf | 21.10 0.05 0.24% |
| Symbol | CIBC |
Please note, there is a significant difference between CIBC Qx's value and its price as these two are different measures arrived at by different means. Investors typically determine if CIBC Qx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CIBC Qx's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
CIBC Qx '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 CIBC Qx'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 CIBC Qx.
| 09/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in CIBC Qx on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding CIBC Qx International or generate 0.0% return on investment in CIBC Qx over 60 days. CIBC Qx is related to or competes with IShares SPTSX, IShares Core, IShares Core, BMO Aggregate, IShares Canadian, BMO SPTSX, and BMO SP. CIBC Qx is entity of Canada. It is traded as Etf on NEO exchange. More
CIBC Qx 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 CIBC Qx'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 CIBC Qx International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.33) | |||
| Maximum Drawdown | 2.93 | |||
| Value At Risk | (0.55) | |||
| Potential Upside | 0.7414 |
CIBC Qx Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CIBC Qx's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CIBC Qx's standard deviation. In reality, there are many statistical measures that can use CIBC Qx historical prices to predict the future CIBC Qx's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.07) | |||
| Treynor Ratio | (0.27) |
CIBC Qx International Backtested Returns
CIBC Qx International retains Efficiency (Sharpe Ratio) of -0.0335, which signifies that the etf had a -0.0335% return per unit of risk over the last 3 months. CIBC Qx exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CIBC Qx's market risk adjusted performance of (0.26), and Variance of 0.1524 to double-check the risk estimate we provide. The etf owns a Beta (Systematic Risk) of 0.0286, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CIBC Qx's returns are expected to increase less than the market. However, during the bear market, the loss of holding CIBC Qx is expected to be smaller as well.
Auto-correlation | -0.28 |
Weak reverse predictability
CIBC Qx International has weak reverse predictability. Overlapping area represents the amount of predictability between CIBC Qx time series from 28th of September 2024 to 28th of October 2024 and 28th of October 2024 to 27th 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 CIBC Qx International price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current CIBC Qx price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
CIBC Qx International lagged returns against current returns
Autocorrelation, which is CIBC Qx 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 CIBC Qx's etf expected returns. We can calculate the autocorrelation of CIBC Qx returns to help us make a trade decision. For example, suppose you find that CIBC Qx 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 |
CIBC Qx 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 CIBC Qx etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CIBC Qx etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CIBC Qx etf over time.
Current vs Lagged Prices |
| Timeline |
CIBC Qx Lagged Returns
When evaluating CIBC Qx's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CIBC Qx etf have on its future price. CIBC Qx 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, CIBC Qx autocorrelation shows the relationship between CIBC Qx etf current value and its past values and can show if there is a momentum factor associated with investing in CIBC Qx International.
Regressed Prices |
| Timeline |
Pair Trading with CIBC Qx
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 CIBC Qx 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 CIBC Qx will appreciate offsetting losses from the drop in the long position's value.Moving against CIBC Etf
| 0.43 | ZSP | BMO SP 500 | PairCorr |
| 0.43 | VFV | Vanguard SP 500 | PairCorr |
| 0.38 | XSP | iShares Core SP | PairCorr |
| 0.33 | XIU | iShares SPTSX 60 | PairCorr |
| 0.32 | XIC | iShares Core SPTSX | PairCorr |
The ability to find closely correlated positions to CIBC Qx could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CIBC Qx 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 CIBC Qx - 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 CIBC Qx International to buy it.
The correlation of CIBC Qx 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 CIBC Qx moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CIBC Qx International 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 CIBC Qx 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 CIBC Etf
CIBC Qx financial ratios help investors to determine whether CIBC 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 CIBC with respect to the benefits of owning CIBC Qx security.