Desjardins Ri Canada Etf Market Value
| DRMC Etf | CAD 32.77 0.07 0.21% |
| 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.
| 05/08/2023 |
| 11/28/2024 |
If you would invest 0.00 in Desjardins on May 8, 2023 and sell it all today you would earn a total of 0.00 from holding Desjardins RI Canada or generate 0.0% return on investment in Desjardins over 570 days. Desjardins is related to or competes with IShares SPTSX, IShares Core, BMO SPTSX, Vanguard FTSE, Global X, Mackenzie Canadian, and First Asset. Desjardins RI Canada - Low CO2 Index ETF DRMC seeks to replicate, to the extent reasonably possible and before fees 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 Canada upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5784 | |||
| Information Ratio | 0.0558 | |||
| Maximum Drawdown | 2.84 | |||
| Value At Risk | (0.86) | |||
| Potential Upside | 1.46 |
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 | 0.2022 | |||
| Jensen Alpha | 0.1419 | |||
| Total Risk Alpha | 0.0578 | |||
| Sortino Ratio | 0.0593 | |||
| Treynor Ratio | 1.45 |
Desjardins RI Canada Backtested Returns
As of now, Desjardins Etf is very steady. Desjardins RI Canada secures Sharpe Ratio (or Efficiency) of 0.28, which denotes the etf had a 0.28% return per unit of risk over the last 3 months. We have found thirty technical indicators for Desjardins RI Canada, which you can use to evaluate the volatility of the entity. Please confirm Desjardins' Mean Deviation of 0.4605, coefficient of variation of 373.53, and Downside Deviation of 0.5784 to check if the risk estimate we provide is consistent with the expected return of 0.18%. The etf shows a Beta (market volatility) of 0.11, 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 | 0.74 |
Good predictability
Desjardins RI Canada has good predictability. Overlapping area represents the amount of predictability between Desjardins time series from 8th of May 2023 to 17th of February 2024 and 17th of February 2024 to 28th 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 Canada price movement. The serial correlation of 0.74 indicates that around 74.0% of current Desjardins price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 2.97 |
Desjardins RI Canada 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 Canada.
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
| 1.0 | XIU | iShares SPTSX 60 | PairCorr |
| 1.0 | XIC | iShares Core SPTSX | PairCorr |
| 1.0 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.98 | VCN | Vanguard FTSE Canada | PairCorr |
| 1.0 | HXT | Global X SPTSX | PairCorr |
Moving against Desjardins Etf
| 1.0 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.94 | HIU | BetaPro SP 500 | PairCorr |
| 0.92 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.55 | HED | BetaPro SPTSX Capped | PairCorr |
| 0.42 | HUN | Global X Natural | 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 Canada 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 Canada 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.