Blockchain Technologies Etf Market Value
| HBLK Etf | CAD 20.04 0.04 0.20% |
| Symbol | Blockchain |
Blockchain Technologies '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 Blockchain Technologies' 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 Blockchain Technologies.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Blockchain Technologies on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Blockchain Technologies ETF or generate 0.0% return on investment in Blockchain Technologies over 30 days. Blockchain Technologies is related to or competes with IShares SPTSX, BMO Equal, BMO Covered, BMO SPTSX, and BMO Equal. The Harvest ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of t... More
Blockchain Technologies 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 Blockchain Technologies' 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 Blockchain Technologies ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.35 | |||
| Information Ratio | 0.1115 | |||
| Maximum Drawdown | 19.24 | |||
| Value At Risk | (3.09) | |||
| Potential Upside | 3.84 |
Blockchain Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Blockchain Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Blockchain Technologies' standard deviation. In reality, there are many statistical measures that can use Blockchain Technologies historical prices to predict the future Blockchain Technologies' volatility.| Risk Adjusted Performance | 0.1202 | |||
| Jensen Alpha | 0.2586 | |||
| Total Risk Alpha | 0.0423 | |||
| Sortino Ratio | 0.1431 | |||
| Treynor Ratio | 0.2445 |
Blockchain Technologies Backtested Returns
Blockchain Technologies appears to be not too volatile, given 3 months investment horizon. Blockchain Technologies secures Sharpe Ratio (or Efficiency) of 0.14, which signifies that the etf had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Blockchain Technologies ETF, which you can use to evaluate the volatility of the entity. Please makes use of Blockchain Technologies' Risk Adjusted Performance of 0.1202, downside deviation of 2.35, and Mean Deviation of 1.94 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 1.78, which signifies 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, Blockchain Technologies will likely underperform.
Auto-correlation | 0.12 |
Insignificant predictability
Blockchain Technologies ETF has insignificant predictability. Overlapping area represents the amount of predictability between Blockchain Technologies time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 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 Blockchain Technologies price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Blockchain Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 0.45 |
Blockchain Technologies lagged returns against current returns
Autocorrelation, which is Blockchain Technologies 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 Blockchain Technologies' etf expected returns. We can calculate the autocorrelation of Blockchain Technologies returns to help us make a trade decision. For example, suppose you find that Blockchain Technologies 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 |
Blockchain Technologies 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 Blockchain Technologies etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Blockchain Technologies etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Blockchain Technologies etf over time.
Current vs Lagged Prices |
| Timeline |
Blockchain Technologies Lagged Returns
When evaluating Blockchain Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Blockchain Technologies etf have on its future price. Blockchain Technologies 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, Blockchain Technologies autocorrelation shows the relationship between Blockchain Technologies etf current value and its past values and can show if there is a momentum factor associated with investing in Blockchain Technologies ETF.
Regressed Prices |
| Timeline |
Pair Trading with Blockchain Technologies
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 Blockchain Technologies 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 Blockchain Technologies will appreciate offsetting losses from the drop in the long position's value.Moving together with Blockchain Etf
Moving against Blockchain Etf
| 0.87 | HHL | Harvest Healthcare | PairCorr |
| 0.83 | XHC | iShares Global Healthcare | PairCorr |
| 0.77 | ZUH | BMO Equal Weight | PairCorr |
| 0.57 | TCLB | TD Canadian Long | PairCorr |
The ability to find closely correlated positions to Blockchain Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Blockchain Technologies 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 Blockchain Technologies - 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 Blockchain Technologies ETF to buy it.
The correlation of Blockchain Technologies 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 Blockchain Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blockchain Technologies 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 Blockchain Technologies 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 Blockchain Etf
Blockchain Technologies financial ratios help investors to determine whether Blockchain 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 Blockchain with respect to the benefits of owning Blockchain Technologies security.