Guardian Ultra Short Canadian Etf Market Value
| GCTB Etf | 50.09 0.02 0.04% |
| Symbol | Guardian |
Guardian Ultra '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 Guardian Ultra'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 Guardian Ultra.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Guardian Ultra on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Guardian Ultra Short Canadian or generate 0.0% return on investment in Guardian Ultra over 30 days. Guardian Ultra is related to or competes with BetaPro SPTSX, BetaPro SPTSX, BetaPro SP, BetaPro NASDAQ, First Trust, and Blockchain Technologies. More
Guardian Ultra 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 Guardian Ultra'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 Guardian Ultra Short Canadian upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (5.76) | |||
| Maximum Drawdown | 0.1005 | |||
| Potential Upside | 0.0403 |
Guardian Ultra Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Guardian Ultra's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Guardian Ultra's standard deviation. In reality, there are many statistical measures that can use Guardian Ultra historical prices to predict the future Guardian Ultra's volatility.| Risk Adjusted Performance | 0.2205 | |||
| Jensen Alpha | 0.0051 | |||
| Total Risk Alpha | 0.0025 | |||
| Treynor Ratio | 1.45 |
Guardian Ultra Short Backtested Returns
As of now, Guardian Etf is very steady. Guardian Ultra Short holds Efficiency (Sharpe) Ratio of 0.79, which attests that the entity had a 0.79% return per unit of standard deviation over the last 3 months. We have found twenty-two technical indicators for Guardian Ultra Short, which you can use to evaluate the volatility of the entity. Please check out Guardian Ultra's risk adjusted performance of 0.2205, and Market Risk Adjusted Performance of 1.46 to validate if the risk estimate we provide is consistent with the expected return of 0.0153%. The etf retains a Market Volatility (i.e., Beta) of 0.0038, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Guardian Ultra's returns are expected to increase less than the market. However, during the bear market, the loss of holding Guardian Ultra is expected to be smaller as well.
Auto-correlation | 0.97 |
Excellent predictability
Guardian Ultra Short Canadian has excellent predictability. Overlapping area represents the amount of predictability between Guardian Ultra time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th of December 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 Guardian Ultra Short price movement. The serial correlation of 0.97 indicates that 97.0% of current Guardian Ultra price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.97 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Guardian Ultra Short lagged returns against current returns
Autocorrelation, which is Guardian Ultra 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 Guardian Ultra's etf expected returns. We can calculate the autocorrelation of Guardian Ultra returns to help us make a trade decision. For example, suppose you find that Guardian Ultra 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 |
Guardian Ultra 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 Guardian Ultra etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Guardian Ultra etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Guardian Ultra etf over time.
Current vs Lagged Prices |
| Timeline |
Guardian Ultra Lagged Returns
When evaluating Guardian Ultra's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Guardian Ultra etf have on its future price. Guardian Ultra 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, Guardian Ultra autocorrelation shows the relationship between Guardian Ultra etf current value and its past values and can show if there is a momentum factor associated with investing in Guardian Ultra Short Canadian.
Regressed Prices |
| Timeline |
Pair Trading with Guardian Ultra
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 Guardian Ultra 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 Guardian Ultra will appreciate offsetting losses from the drop in the long position's value.Moving together with Guardian Etf
Moving against Guardian Etf
| 0.95 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.91 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.9 | HIU | BetaPro SP 500 | PairCorr |
| 0.65 | HED | BetaPro SPTSX Capped | PairCorr |
The ability to find closely correlated positions to Guardian Ultra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guardian Ultra 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 Guardian Ultra - 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 Guardian Ultra Short Canadian to buy it.
The correlation of Guardian Ultra 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 Guardian Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardian Ultra Short 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 Guardian Ultra 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 Guardian Etf
Guardian Ultra financial ratios help investors to determine whether Guardian 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 Guardian with respect to the benefits of owning Guardian Ultra security.