Fidelity High Quality Etf Market Value
| FCUQ Etf | CAD 65.48 0.61 0.94% |
| Symbol | Fidelity |
Fidelity High '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 High'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 High.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Fidelity High on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity High Quality or generate 0.0% return on investment in Fidelity High over 720 days. Fidelity High is related to or competes with BMO SP, Global X, BMO SP, and Vanguard. The ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Fidel... More
Fidelity High 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 High'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 High Quality upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6127 | |||
| Information Ratio | 0.0422 | |||
| Maximum Drawdown | 4.16 | |||
| Value At Risk | (0.98) | |||
| Potential Upside | 1.14 |
Fidelity High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity High's standard deviation. In reality, there are many statistical measures that can use Fidelity High historical prices to predict the future Fidelity High's volatility.| Risk Adjusted Performance | 0.1796 | |||
| Jensen Alpha | 0.099 | |||
| Total Risk Alpha | 0.043 | |||
| Sortino Ratio | 0.0464 | |||
| Treynor Ratio | 0.3592 |
Fidelity High Quality Backtested Returns
As of now, Fidelity Etf is very steady. Fidelity High Quality secures Sharpe Ratio (or Efficiency) of 0.25, which denotes the etf had a 0.25% return per unit of risk over the last 3 months. We have found thirty technical indicators for Fidelity High Quality, which you can use to evaluate the volatility of the entity. Please confirm Fidelity High's Mean Deviation of 0.471, coefficient of variation of 423.71, and Downside Deviation of 0.6127 to check if the risk estimate we provide is consistent with the expected return of 0.17%. The etf shows a Beta (market volatility) of 0.42, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fidelity High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity High is expected to be smaller as well.
Auto-correlation | 0.90 |
Excellent predictability
Fidelity High Quality has excellent predictability. Overlapping area represents the amount of predictability between Fidelity High 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 High Quality price movement. The serial correlation of 0.9 indicates that approximately 90.0% of current Fidelity High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.9 | |
| Spearman Rank Test | 0.89 | |
| Residual Average | 0.0 | |
| Price Variance | 20.95 |
Fidelity High Quality lagged returns against current returns
Autocorrelation, which is Fidelity High 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 High's etf expected returns. We can calculate the autocorrelation of Fidelity High returns to help us make a trade decision. For example, suppose you find that Fidelity High 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 High 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 High etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity High etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity High etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity High Lagged Returns
When evaluating Fidelity High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity High etf have on its future price. Fidelity High 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 High autocorrelation shows the relationship between Fidelity High etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity High Quality.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity High
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 High 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 High will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 0.96 | XSP | iShares Core SP | PairCorr |
| 0.99 | ZSP | BMO SP 500 | PairCorr |
| 0.99 | VFV | Vanguard SP 500 | PairCorr |
| 0.99 | HXS | Global X SP | PairCorr |
| 0.99 | XUS | iShares Core SP | PairCorr |
The ability to find closely correlated positions to Fidelity High 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 High 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 High - 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 High Quality to buy it.
The correlation of Fidelity High 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 High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity High Quality 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 High 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 High 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 High security.