Fidelity Momentum Etf Market Value
| FCMO Etf | 17.38 0.13 0.75% |
| Symbol | Fidelity |
Please note, there is a significant difference between Fidelity Momentum's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Momentum is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Momentum's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Fidelity Momentum '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 Momentum'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 Momentum.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Fidelity Momentum on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity Momentum ETF or generate 0.0% return on investment in Fidelity Momentum over 720 days. Fidelity Momentum is related to or competes with Global Atomic, EnCore Energy, Fission Uranium, NexGen Energy, and Sprott Physical. Fidelity Momentum is entity of Canada. It is traded as Etf on NEO exchange. More
Fidelity Momentum 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 Momentum'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 Momentum ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8711 | |||
| Information Ratio | 0.1233 | |||
| Maximum Drawdown | 4.29 | |||
| Value At Risk | (0.93) | |||
| Potential Upside | 1.65 |
Fidelity Momentum Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Momentum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Momentum's standard deviation. In reality, there are many statistical measures that can use Fidelity Momentum historical prices to predict the future Fidelity Momentum's volatility.| Risk Adjusted Performance | 0.2037 | |||
| Jensen Alpha | 0.1763 | |||
| Total Risk Alpha | 0.0888 | |||
| Sortino Ratio | 0.1323 | |||
| Treynor Ratio | 0.4775 |
Fidelity Momentum ETF Backtested Returns
Fidelity Momentum appears to be very steady, given 3 months investment horizon. Fidelity Momentum ETF secures Sharpe Ratio (or Efficiency) of 0.29, which denotes the etf had a 0.29% return per unit of risk over the last 3 months. We have found thirty technical indicators for Fidelity Momentum ETF, which you can use to evaluate the volatility of the entity. Please utilize Fidelity Momentum's Mean Deviation of 0.6447, downside deviation of 0.8711, and Coefficient Of Variation of 379.83 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.49, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fidelity Momentum's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Momentum is expected to be smaller as well.
Auto-correlation | 0.69 |
Good predictability
Fidelity Momentum ETF has good predictability. Overlapping area represents the amount of predictability between Fidelity Momentum 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 Momentum ETF price movement. The serial correlation of 0.69 indicates that around 69.0% of current Fidelity Momentum price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 3.03 |
Fidelity Momentum ETF lagged returns against current returns
Autocorrelation, which is Fidelity Momentum 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 Momentum's etf expected returns. We can calculate the autocorrelation of Fidelity Momentum returns to help us make a trade decision. For example, suppose you find that Fidelity Momentum 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 Momentum 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 Momentum etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Momentum etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Momentum etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Momentum Lagged Returns
When evaluating Fidelity Momentum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Momentum etf have on its future price. Fidelity Momentum 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 Momentum autocorrelation shows the relationship between Fidelity Momentum etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Momentum ETF.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity Momentum
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 Momentum 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 Momentum will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
Moving against Fidelity Etf
| 0.75 | TCLB | TD Canadian Long | PairCorr |
| 0.4 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.39 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to Fidelity Momentum 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 Momentum 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 Momentum - 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 Momentum ETF to buy it.
The correlation of Fidelity Momentum 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 Momentum moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Momentum ETF 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 Momentum 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 Momentum 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 Momentum security.