Hamilton Energy Yield Etf Market Value
| EMAX Etf | 16.21 0.26 1.58% |
| Symbol | Hamilton |
Hamilton Energy '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 Hamilton Energy'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 Hamilton Energy.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Hamilton Energy on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Hamilton Energy Yield or generate 0.0% return on investment in Hamilton Energy over 540 days.
Hamilton Energy 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 Hamilton Energy'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 Hamilton Energy Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.37 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 6.45 | |||
| Value At Risk | (2.21) | |||
| Potential Upside | 2.05 |
Hamilton Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hamilton Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hamilton Energy's standard deviation. In reality, there are many statistical measures that can use Hamilton Energy historical prices to predict the future Hamilton Energy's volatility.| Risk Adjusted Performance | 0.049 | |||
| Jensen Alpha | 0.0535 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.6603 |
Hamilton Energy Yield Backtested Returns
As of now, Hamilton Etf is very steady. Hamilton Energy Yield holds Efficiency (Sharpe) Ratio of 0.0646, which attests that the entity had a 0.0646% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hamilton Energy Yield, which you can use to evaluate the volatility of the entity. Please check out Hamilton Energy's Downside Deviation of 1.37, risk adjusted performance of 0.049, and Market Risk Adjusted Performance of 0.6703 to validate if the risk estimate we provide is consistent with the expected return of 0.0821%. The etf retains a Market Volatility (i.e., Beta) of 0.0981, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hamilton Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hamilton Energy is expected to be smaller as well.
Auto-correlation | 0.94 |
Excellent predictability
Hamilton Energy Yield has excellent predictability. Overlapping area represents the amount of predictability between Hamilton Energy time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Hamilton Energy Yield price movement. The serial correlation of 0.94 indicates that approximately 94.0% of current Hamilton Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.94 | |
| Spearman Rank Test | 0.93 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Hamilton Energy Yield lagged returns against current returns
Autocorrelation, which is Hamilton Energy 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 Hamilton Energy's etf expected returns. We can calculate the autocorrelation of Hamilton Energy returns to help us make a trade decision. For example, suppose you find that Hamilton Energy 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 |
Hamilton Energy 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 Hamilton Energy etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hamilton Energy etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hamilton Energy etf over time.
Current vs Lagged Prices |
| Timeline |
Hamilton Energy Lagged Returns
When evaluating Hamilton Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hamilton Energy etf have on its future price. Hamilton Energy 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, Hamilton Energy autocorrelation shows the relationship between Hamilton Energy etf current value and its past values and can show if there is a momentum factor associated with investing in Hamilton Energy Yield.
Regressed Prices |
| Timeline |
Pair Trading with Hamilton Energy
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 Hamilton Energy 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 Hamilton Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Hamilton Etf
Moving against Hamilton Etf
| 0.72 | TCLB | TD Canadian Long | PairCorr |
| 0.62 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.61 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to Hamilton Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hamilton Energy 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 Hamilton Energy - 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 Hamilton Energy Yield to buy it.
The correlation of Hamilton Energy 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 Hamilton Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Energy Yield 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 Hamilton Energy 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.