Betapro Equal Weight Etf Market Value
| HBKU Etf | 29.12 0.23 0.78% |
| Symbol | BetaPro |
BetaPro Equal '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 BetaPro Equal'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 BetaPro Equal.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in BetaPro Equal on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding BetaPro Equal Weight or generate 0.0% return on investment in BetaPro Equal over 360 days. BetaPro Equal is related to or competes with BetaPro SP, BetaPro SP, BetaPro SPTSX, BetaPro SPTSX, and BetaPro Gold. BetaPro Equal is entity of Canada. It is traded as Etf on TO exchange. More
BetaPro Equal 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 BetaPro Equal'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 BetaPro Equal Weight upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.2203 | |||
| Maximum Drawdown | 7.69 | |||
| Value At Risk | (0.46) | |||
| Potential Upside | 3.77 |
BetaPro Equal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BetaPro Equal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BetaPro Equal's standard deviation. In reality, there are many statistical measures that can use BetaPro Equal historical prices to predict the future BetaPro Equal's volatility.| Risk Adjusted Performance | 0.2545 | |||
| Jensen Alpha | 0.3916 | |||
| Total Risk Alpha | 0.196 | |||
| Treynor Ratio | 2.87 |
BetaPro Equal Weight Backtested Returns
BetaPro Equal appears to be very steady, given 3 months investment horizon. BetaPro Equal Weight secures Sharpe Ratio (or Efficiency) of 0.31, which signifies that the etf had a 0.31% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for BetaPro Equal Weight, which you can use to evaluate the volatility of the entity. Please makes use of BetaPro Equal's Risk Adjusted Performance of 0.2545, mean deviation of 0.797, and Standard Deviation of 1.28 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.14, which signifies not very significant fluctuations relative to the market. As returns on the market increase, BetaPro Equal's returns are expected to increase less than the market. However, during the bear market, the loss of holding BetaPro Equal is expected to be smaller as well.
Auto-correlation | 0.77 |
Good predictability
BetaPro Equal Weight has good predictability. Overlapping area represents the amount of predictability between BetaPro Equal time series from 8th of December 2023 to 5th of June 2024 and 5th of June 2024 to 2nd 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 BetaPro Equal Weight price movement. The serial correlation of 0.77 indicates that around 77.0% of current BetaPro Equal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 10.0 |
BetaPro Equal Weight lagged returns against current returns
Autocorrelation, which is BetaPro Equal 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 BetaPro Equal's etf expected returns. We can calculate the autocorrelation of BetaPro Equal returns to help us make a trade decision. For example, suppose you find that BetaPro Equal 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 |
BetaPro Equal 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 BetaPro Equal etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BetaPro Equal etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BetaPro Equal etf over time.
Current vs Lagged Prices |
| Timeline |
BetaPro Equal Lagged Returns
When evaluating BetaPro Equal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BetaPro Equal etf have on its future price. BetaPro Equal 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, BetaPro Equal autocorrelation shows the relationship between BetaPro Equal etf current value and its past values and can show if there is a momentum factor associated with investing in BetaPro Equal Weight.
Regressed Prices |
| Timeline |
Pair Trading with BetaPro Equal
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 BetaPro Equal 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 BetaPro Equal will appreciate offsetting losses from the drop in the long position's value.Moving together with BetaPro Etf
Moving against BetaPro Etf
| 0.96 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.88 | HSD | BetaPro SP 500 | PairCorr |
| 0.86 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.45 | HOD | BetaPro Crude Oil | PairCorr |
The ability to find closely correlated positions to BetaPro Equal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BetaPro Equal 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 BetaPro Equal - 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 BetaPro Equal Weight to buy it.
The correlation of BetaPro Equal 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 BetaPro Equal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro Equal Weight 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 BetaPro Equal 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 BetaPro Etf
BetaPro Equal financial ratios help investors to determine whether BetaPro 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 BetaPro with respect to the benefits of owning BetaPro Equal security.