Desjardins Canadian Corporate Etf Market Value
| DCBC Etf | 21.03 0.08 0.38% |
| Symbol | Desjardins |
Desjardins 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 Desjardins 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 Desjardins Canadian.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Desjardins Canadian on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Desjardins Canadian Corporate or generate 0.0% return on investment in Desjardins Canadian over 30 days.
Desjardins 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 Desjardins 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 Desjardins Canadian Corporate upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3335 | |||
| Information Ratio | (0.35) | |||
| Maximum Drawdown | 1.44 | |||
| Value At Risk | (0.34) | |||
| Potential Upside | 0.4822 |
Desjardins Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Desjardins Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Desjardins Canadian's standard deviation. In reality, there are many statistical measures that can use Desjardins Canadian historical prices to predict the future Desjardins Canadian's volatility.| Risk Adjusted Performance | 0.076 | |||
| Jensen Alpha | 0.0221 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.31) | |||
| Treynor Ratio | 0.9664 |
Desjardins Canadian Backtested Returns
As of now, Desjardins Etf is very steady. Desjardins Canadian secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the etf had a 0.13% return per unit of risk over the last 3 months. We have found thirty technical indicators for Desjardins Canadian Corporate, which you can use to evaluate the volatility of the entity. Please confirm Desjardins Canadian's Coefficient Of Variation of 831.16, mean deviation of 0.2083, and Downside Deviation of 0.3335 to check if the risk estimate we provide is consistent with the expected return of 0.0388%. The etf shows a Beta (market volatility) of 0.0263, which means not very significant fluctuations relative to the market. As returns on the market increase, Desjardins Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding Desjardins Canadian is expected to be smaller as well.
Auto-correlation | 0.28 |
Poor predictability
Desjardins Canadian Corporate has poor predictability. Overlapping area represents the amount of predictability between Desjardins Canadian time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 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 Desjardins Canadian price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current Desjardins Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.28 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Desjardins Canadian lagged returns against current returns
Autocorrelation, which is Desjardins 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 Desjardins Canadian's etf expected returns. We can calculate the autocorrelation of Desjardins Canadian returns to help us make a trade decision. For example, suppose you find that Desjardins 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 |
Desjardins 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 Desjardins Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Desjardins Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Desjardins Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
Desjardins Canadian Lagged Returns
When evaluating Desjardins Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Desjardins Canadian etf have on its future price. Desjardins 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, Desjardins Canadian autocorrelation shows the relationship between Desjardins Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in Desjardins Canadian Corporate.
Regressed Prices |
| Timeline |
Pair Trading with Desjardins 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 Desjardins 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 Desjardins Canadian will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Desjardins 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 Desjardins 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 Desjardins 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 Desjardins Canadian Corporate to buy it.
The correlation of Desjardins 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 Desjardins Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desjardins Canadian 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 Desjardins 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.