First Asset Morningstar Etf Market Value
| FXM Etf | CAD 26.11 0.20 0.77% |
| Symbol | First |
First Asset '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 First Asset'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 First Asset.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in First Asset on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding First Asset Morningstar or generate 0.0% return on investment in First Asset over 30 days. First Asset is related to or competes with First Asset, Invesco FTSE, CI Canadian, and Global X. The ETF has been designed to replicate, to the extent possible, the performance of the Morningstar Canada Target Value I... More
First Asset 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 First Asset'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 First Asset Morningstar upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.821 | |||
| Information Ratio | 0.0469 | |||
| Maximum Drawdown | 3.5 | |||
| Value At Risk | (1.33) | |||
| Potential Upside | 1.65 |
First Asset Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for First Asset's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as First Asset's standard deviation. In reality, there are many statistical measures that can use First Asset historical prices to predict the future First Asset's volatility.| Risk Adjusted Performance | 0.1653 | |||
| Jensen Alpha | 0.1109 | |||
| Total Risk Alpha | 0.0296 | |||
| Sortino Ratio | 0.0467 | |||
| Treynor Ratio | 0.3845 |
First Asset Morningstar Backtested Returns
First Asset appears to be very steady, given 3 months investment horizon. First Asset Morningstar secures Sharpe Ratio (or Efficiency) of 0.26, which denotes the etf had a 0.26% return per unit of risk over the last 3 months. We have found thirty technical indicators for First Asset Morningstar, which you can use to evaluate the volatility of the entity. Please utilize First Asset's Mean Deviation of 0.6202, downside deviation of 0.821, and Coefficient Of Variation of 464.26 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.43, which means possible diversification benefits within a given portfolio. As returns on the market increase, First Asset's returns are expected to increase less than the market. However, during the bear market, the loss of holding First Asset is expected to be smaller as well.
Auto-correlation | 0.55 |
Modest predictability
First Asset Morningstar has modest predictability. Overlapping area represents the amount of predictability between First Asset time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 First Asset Morningstar price movement. The serial correlation of 0.55 indicates that about 55.0% of current First Asset price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | 0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
First Asset Morningstar lagged returns against current returns
Autocorrelation, which is First Asset 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 First Asset's etf expected returns. We can calculate the autocorrelation of First Asset returns to help us make a trade decision. For example, suppose you find that First Asset 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 |
First Asset 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 First Asset etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if First Asset etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in First Asset etf over time.
Current vs Lagged Prices |
| Timeline |
First Asset Lagged Returns
When evaluating First Asset's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of First Asset etf have on its future price. First Asset 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, First Asset autocorrelation shows the relationship between First Asset etf current value and its past values and can show if there is a momentum factor associated with investing in First Asset Morningstar.
Regressed Prices |
| Timeline |
Pair Trading with First Asset
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 First Asset 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 First Asset will appreciate offsetting losses from the drop in the long position's value.Moving together with First Etf
| 0.97 | XIU | iShares SPTSX 60 | PairCorr |
| 0.98 | XIC | iShares Core SPTSX | PairCorr |
| 0.98 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.97 | VCN | Vanguard FTSE Canada | PairCorr |
| 0.97 | HXT | Global X SPTSX | PairCorr |
Moving against First Etf
The ability to find closely correlated positions to First Asset could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Asset 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 First Asset - 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 First Asset Morningstar to buy it.
The correlation of First Asset 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 First Asset moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Asset Morningstar 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 First Asset 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 First Etf
First Asset financial ratios help investors to determine whether First 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 First with respect to the benefits of owning First Asset security.