Fidelity Advantage Bitcoin Etf Market Value
| FBTC Etf | 45.98 0.33 0.72% |
| Symbol | Fidelity |
Fidelity Advantage '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 Fidelity Advantage'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 Fidelity Advantage.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Fidelity Advantage on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Advantage Bitcoin or generate 0.0% return on investment in Fidelity Advantage over 30 days. Fidelity Advantage is related to or competes with Fidelity Canadian, Fidelity International, and Fidelity Dividend. Fidelity Advantage is entity of Canada. It is traded as Etf on TO exchange. More
Fidelity Advantage 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 Fidelity Advantage'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 Fidelity Advantage Bitcoin upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.21 | |||
| Information Ratio | 0.2055 | |||
| Maximum Drawdown | 15.07 | |||
| Value At Risk | (3.27) | |||
| Potential Upside | 6.37 |
Fidelity Advantage Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Advantage's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Advantage's standard deviation. In reality, there are many statistical measures that can use Fidelity Advantage historical prices to predict the future Fidelity Advantage's volatility.| Risk Adjusted Performance | 0.1953 | |||
| Jensen Alpha | 0.6581 | |||
| Total Risk Alpha | 0.2815 | |||
| Sortino Ratio | 0.3112 | |||
| Treynor Ratio | 0.6485 |
Fidelity Advantage Backtested Returns
Fidelity Advantage appears to be very steady, given 3 months investment horizon. Fidelity Advantage secures Sharpe Ratio (or Efficiency) of 0.24, which denotes the etf had a 0.24% return per unit of risk over the last 3 months. By reviewing Fidelity Advantage's technical indicators, you can evaluate if the expected return of 0.81% is justified by implied risk. Please utilize Fidelity Advantage's Downside Deviation of 2.21, mean deviation of 2.52, and Coefficient Of Variation of 408.91 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 1.25, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Fidelity Advantage will likely underperform.
Auto-correlation | 0.72 |
Good predictability
Fidelity Advantage Bitcoin has good predictability. Overlapping area represents the amount of predictability between Fidelity Advantage time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Fidelity Advantage price movement. The serial correlation of 0.72 indicates that around 72.0% of current Fidelity Advantage price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 7.94 |
Fidelity Advantage lagged returns against current returns
Autocorrelation, which is Fidelity Advantage 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 Fidelity Advantage's etf expected returns. We can calculate the autocorrelation of Fidelity Advantage returns to help us make a trade decision. For example, suppose you find that Fidelity Advantage 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 |
Fidelity Advantage 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 Fidelity Advantage etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Advantage etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Advantage etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Advantage Lagged Returns
When evaluating Fidelity Advantage's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Advantage etf have on its future price. Fidelity Advantage 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, Fidelity Advantage autocorrelation shows the relationship between Fidelity Advantage etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Advantage Bitcoin.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity Advantage
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 Fidelity Advantage 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 Fidelity Advantage will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 1.0 | BTCQ | 3iQ Bitcoin ETF | PairCorr |
| 1.0 | BTCC | Purpose Bitcoin CAD | PairCorr |
| 0.94 | ETHQ | 3iQ CoinShares Ether | PairCorr |
Moving against Fidelity Etf
| 0.99 | BITI | BetaPro Inverse Bitcoin | PairCorr |
| 0.59 | TCLB | TD Canadian Long | PairCorr |
| 0.44 | HUV | BetaPro SP 500 | PairCorr |
| 0.36 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.35 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to Fidelity Advantage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fidelity Advantage 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 Fidelity Advantage - 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 Fidelity Advantage Bitcoin to buy it.
The correlation of Fidelity Advantage 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 Fidelity Advantage moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Advantage 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 Fidelity Advantage 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 Fidelity Etf
Fidelity Advantage financial ratios help investors to determine whether Fidelity 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 Fidelity with respect to the benefits of owning Fidelity Advantage security.