Fidelity International Value Etf Market Value
| FCIV Etf | CAD 33.52 0.07 0.21% |
| Symbol | Fidelity |
Fidelity International '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 International'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 International.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Fidelity International on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity International Value or generate 0.0% return on investment in Fidelity International over 720 days. Fidelity International is related to or competes with Fidelity Value, Fidelity Canadian, Fidelity International, Fidelity High, and Fidelity High. FIDELITY INTERNATIONAL is traded on Toronto Stock Exchange in Canada. More
Fidelity International 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 International'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 International Value upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 3.59 | |||
| Value At Risk | (1.66) | |||
| Potential Upside | 1.1 |
Fidelity International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity International's standard deviation. In reality, there are many statistical measures that can use Fidelity International historical prices to predict the future Fidelity International's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.16) | |||
| Treynor Ratio | (6.18) |
Fidelity International Backtested Returns
Fidelity International secures Sharpe Ratio (or Efficiency) of -0.0514, which denotes the etf had a -0.0514% return per unit of risk over the last 3 months. Fidelity International Value exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity International's Variance of 0.6201, standard deviation of 0.7875, and Mean Deviation of 0.5913 to check the risk estimate we provide. The etf shows a Beta (market volatility) of 0.0064, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity International is expected to be smaller as well.
Auto-correlation | 0.58 |
Modest predictability
Fidelity International Value has modest predictability. Overlapping area represents the amount of predictability between Fidelity International 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 International price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Fidelity International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 1.43 |
Fidelity International lagged returns against current returns
Autocorrelation, which is Fidelity International 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 International's etf expected returns. We can calculate the autocorrelation of Fidelity International returns to help us make a trade decision. For example, suppose you find that Fidelity International 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 International 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 International etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity International etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity International etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity International Lagged Returns
When evaluating Fidelity International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity International etf have on its future price. Fidelity International 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 International autocorrelation shows the relationship between Fidelity International etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity International Value.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity International
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 International 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 International will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 0.8 | XEF | iShares Core MSCI | PairCorr |
| 0.8 | ZEA | BMO MSCI EAFE | PairCorr |
| 0.78 | VIU | Vanguard FTSE Developed | PairCorr |
| 0.9 | XIN | iShares MSCI EAFE | PairCorr |
| 0.88 | XFH | iShares Core MSCI | PairCorr |
The ability to find closely correlated positions to Fidelity International 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 International 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 International - 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 International Value to buy it.
The correlation of Fidelity International 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 International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity International 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 International 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.Check out Fidelity International Correlation, Fidelity International Volatility and Fidelity International Alpha and Beta module to complement your research on Fidelity International. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Fidelity International technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.