Forstrong Emerging Markets Etf Market Value
| FEME Etf | 94.76 73.74 350.81% |
| Symbol | Forstrong |
Forstrong Emerging '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 Forstrong Emerging'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 Forstrong Emerging.
| 09/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Forstrong Emerging on September 23, 2024 and sell it all today you would earn a total of 0.00 from holding Forstrong Emerging Markets or generate 0.0% return on investment in Forstrong Emerging over 60 days.
Forstrong Emerging 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 Forstrong Emerging'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 Forstrong Emerging Markets upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.1231 | |||
| Maximum Drawdown | 5.7 | |||
| Potential Upside | 0.7335 |
Forstrong Emerging Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Forstrong Emerging's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Forstrong Emerging's standard deviation. In reality, there are many statistical measures that can use Forstrong Emerging historical prices to predict the future Forstrong Emerging's volatility.| Risk Adjusted Performance | 0.1056 | |||
| Jensen Alpha | 5.17 | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | 2.8 |
Forstrong Emerging Backtested Returns
Forstrong Emerging is slightly risky given 3 months investment horizon. Forstrong Emerging secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the etf had a 0.13% return per unit of risk over the last 3 months. We were able to break down and interpolate data for twenty different technical indicators, which can help you to evaluate if expected returns of 5.67% are justified by taking the suggested risk. Use Forstrong Emerging Standard Deviation of 42.77, variance of 1829.23, and Mean Deviation of 10.37 to evaluate company specific risk that cannot be diversified away. The etf shows a Beta (market volatility) of 1.92, 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, Forstrong Emerging will likely underperform.
Auto-correlation | 0.00 |
No correlation between past and present
Forstrong Emerging Markets has no correlation between past and present. Overlapping area represents the amount of predictability between Forstrong Emerging time series from 23rd of September 2024 to 23rd of October 2024 and 23rd of October 2024 to 22nd 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 Forstrong Emerging price movement. The serial correlation of 0.0 indicates that just 0.0% of current Forstrong Emerging price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.9 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Forstrong Emerging lagged returns against current returns
Autocorrelation, which is Forstrong Emerging 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 Forstrong Emerging's etf expected returns. We can calculate the autocorrelation of Forstrong Emerging returns to help us make a trade decision. For example, suppose you find that Forstrong Emerging 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 |
Forstrong Emerging 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 Forstrong Emerging etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Forstrong Emerging etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Forstrong Emerging etf over time.
Current vs Lagged Prices |
| Timeline |
Forstrong Emerging Lagged Returns
When evaluating Forstrong Emerging's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Forstrong Emerging etf have on its future price. Forstrong Emerging 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, Forstrong Emerging autocorrelation shows the relationship between Forstrong Emerging etf current value and its past values and can show if there is a momentum factor associated with investing in Forstrong Emerging Markets.
Regressed Prices |
| Timeline |
Pair Trading with Forstrong Emerging
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 Forstrong Emerging 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 Forstrong Emerging will appreciate offsetting losses from the drop in the long position's value.Moving against Forstrong Etf
| 0.38 | TCLB | TD Canadian Long | PairCorr |
| 0.36 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.34 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to Forstrong Emerging could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Forstrong Emerging 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 Forstrong Emerging - 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 Forstrong Emerging Markets to buy it.
The correlation of Forstrong Emerging 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 Forstrong Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Forstrong Emerging 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 Forstrong Emerging 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.