Fidelity Canadian Value Etf Market Value
| FCCV Etf | CAD 15.42 0.06 0.39% |
| Symbol | Fidelity |
Fidelity 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 Fidelity 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 Fidelity Canadian.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Fidelity Canadian on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity Canadian Value or generate 0.0% return on investment in Fidelity Canadian over 720 days. Fidelity Canadian is related to or competes with IShares SPTSX, IShares Core, IShares SPTSX, IShares Core, and Vanguard FTSE. FIDELITY CANADIAN is traded on Toronto Stock Exchange in Canada. More
Fidelity 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 Fidelity 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 Fidelity Canadian Value upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5497 | |||
| Information Ratio | 0.0115 | |||
| Maximum Drawdown | 2.33 | |||
| Value At Risk | (0.79) | |||
| Potential Upside | 1.14 |
Fidelity Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Canadian's standard deviation. In reality, there are many statistical measures that can use Fidelity Canadian historical prices to predict the future Fidelity Canadian's volatility.| Risk Adjusted Performance | 0.1828 | |||
| Jensen Alpha | 0.1018 | |||
| Total Risk Alpha | 0.0383 | |||
| Sortino Ratio | 0.0118 | |||
| Treynor Ratio | 0.6048 |
Fidelity Canadian Value Backtested Returns
As of now, Fidelity Etf is very steady. Fidelity Canadian Value secures Sharpe Ratio (or Efficiency) of 0.22, which denotes the etf had a 0.22% return per unit of risk over the last 3 months. We have found thirty technical indicators for Fidelity Canadian Value, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Canadian's Coefficient Of Variation of 411.53, mean deviation of 0.4568, and Downside Deviation of 0.5497 to check if the risk estimate we provide is consistent with the expected return of 0.12%. The etf shows a Beta (market volatility) of 0.21, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Canadian is expected to be smaller as well.
Auto-correlation | 0.04 |
Virtually no predictability
Fidelity Canadian Value has virtually no predictability. Overlapping area represents the amount of predictability between Fidelity Canadian time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 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 Fidelity Canadian Value price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Fidelity Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.59 |
Fidelity Canadian Value lagged returns against current returns
Autocorrelation, which is Fidelity 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 Fidelity Canadian's etf expected returns. We can calculate the autocorrelation of Fidelity Canadian returns to help us make a trade decision. For example, suppose you find that Fidelity 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 |
Fidelity 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 Fidelity Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Canadian Lagged Returns
When evaluating Fidelity Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Canadian etf have on its future price. Fidelity 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, Fidelity Canadian autocorrelation shows the relationship between Fidelity Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Canadian Value.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity 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 Fidelity 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 Fidelity Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 0.96 | XIU | iShares SPTSX 60 | PairCorr |
| 0.97 | XIC | iShares Core SPTSX | PairCorr |
| 0.97 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.97 | VCN | Vanguard FTSE Canada | PairCorr |
| 0.96 | HXT | Global X SPTSX | PairCorr |
Moving against Fidelity Etf
The ability to find closely correlated positions to Fidelity 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 Fidelity 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 Fidelity 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 Fidelity Canadian Value to buy it.
The correlation of Fidelity 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 Fidelity Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Canadian Value 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 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.Other Information on Investing in Fidelity Etf
Fidelity Canadian 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 Canadian security.