Desjardins Ri Emerging Etf Market Value
| DRFE Etf | CAD 22.98 0.01 0.04% |
| Symbol | Desjardins |
Desjardins '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' 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.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in Desjardins on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding Desjardins RI Emerging or generate 0.0% return on investment in Desjardins over 30 days. Desjardins is related to or competes with IShares MSCI, IShares MSCI, IShares Floating, IShares Canadian, PHN Multi, Altagas Cum, and EcoSynthetix. Desjardins RI Emerging Markets Multifactor - Low CO2 ETF DRFE seeks to replicate, to the extent reasonably possible and ... More
Desjardins 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' 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 RI Emerging upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 4.97 | |||
| Value At Risk | (1.50) | |||
| Potential Upside | 1.29 |
Desjardins Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Desjardins' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Desjardins' standard deviation. In reality, there are many statistical measures that can use Desjardins historical prices to predict the future Desjardins' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.16) | |||
| Treynor Ratio | (2.66) |
Desjardins RI Emerging Backtested Returns
Desjardins RI Emerging secures Sharpe Ratio (or Efficiency) of -0.01, which denotes the etf had a -0.01% return per unit of risk over the last 3 months. Desjardins RI Emerging exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Desjardins' Variance of 0.8352, mean deviation of 0.6178, and Standard Deviation of 0.9139 to check the risk estimate we provide. The etf shows a Beta (market volatility) of 0.0074, which means not very significant fluctuations relative to the market. As returns on the market increase, Desjardins' returns are expected to increase less than the market. However, during the bear market, the loss of holding Desjardins is expected to be smaller as well.
Auto-correlation | -0.03 |
Very weak reverse predictability
Desjardins RI Emerging has very weak reverse predictability. Overlapping area represents the amount of predictability between Desjardins time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 Desjardins RI Emerging price movement. The serial correlation of -0.03 indicates that only 3.0% of current Desjardins price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Desjardins RI Emerging lagged returns against current returns
Autocorrelation, which is Desjardins 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' etf expected returns. We can calculate the autocorrelation of Desjardins returns to help us make a trade decision. For example, suppose you find that Desjardins 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 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 etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Desjardins etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Desjardins etf over time.
Current vs Lagged Prices |
| Timeline |
Desjardins Lagged Returns
When evaluating Desjardins' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Desjardins etf have on its future price. Desjardins 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 autocorrelation shows the relationship between Desjardins etf current value and its past values and can show if there is a momentum factor associated with investing in Desjardins RI Emerging.
Regressed Prices |
| Timeline |
Pair Trading with Desjardins
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 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 will appreciate offsetting losses from the drop in the long position's value.Moving together with Desjardins Etf
| 0.88 | VEE | Vanguard FTSE Emerging | PairCorr |
| 0.91 | ZEM | BMO MSCI Emerging | PairCorr |
| 0.92 | XEC | iShares Core MSCI | PairCorr |
| 0.93 | XEM | iShares MSCI Emerging | PairCorr |
| 0.93 | ZLE | BMO Low Volatility | PairCorr |
The ability to find closely correlated positions to Desjardins 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 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 - 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 RI Emerging to buy it.
The correlation of Desjardins 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 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desjardins RI Emerging 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 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 Desjardins Etf
Desjardins financial ratios help investors to determine whether Desjardins 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 Desjardins with respect to the benefits of owning Desjardins security.