Harvest Clean Energy Etf Market Value
| HCLN Etf | CAD 7.87 0.03 0.38% |
| Symbol | Harvest |
Harvest Clean '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 Harvest Clean'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 Harvest Clean.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in Harvest Clean on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding Harvest Clean Energy or generate 0.0% return on investment in Harvest Clean over 30 days. Harvest Clean is related to or competes with IShares Canadian, PHN Multi, Altagas Cum, EcoSynthetix, and European Residential. HARVEST CLEAN is traded on Toronto Stock Exchange in Canada. More
Harvest Clean 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 Harvest Clean'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 Harvest Clean Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 8.91 | |||
| Value At Risk | (2.53) | |||
| Potential Upside | 1.89 |
Harvest Clean Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harvest Clean's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harvest Clean's standard deviation. In reality, there are many statistical measures that can use Harvest Clean historical prices to predict the future Harvest Clean's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.36) | |||
| Treynor Ratio | 0.2812 |
Harvest Clean Energy Backtested Returns
Harvest Clean Energy holds Efficiency (Sharpe) Ratio of -0.0897, which attests that the entity had a -0.0897% return per unit of risk over the last 3 months. Harvest Clean Energy exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Harvest Clean's Market Risk Adjusted Performance of 0.2912, standard deviation of 1.45, and Risk Adjusted Performance of (0.06) to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of -0.46, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Harvest Clean are expected to decrease at a much lower rate. During the bear market, Harvest Clean is likely to outperform the market.
Auto-correlation | 0.42 |
Average predictability
Harvest Clean Energy has average predictability. Overlapping area represents the amount of predictability between Harvest Clean time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 Harvest Clean Energy price movement. The serial correlation of 0.42 indicates that just about 42.0% of current Harvest Clean price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.42 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Harvest Clean Energy lagged returns against current returns
Autocorrelation, which is Harvest Clean 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 Harvest Clean's etf expected returns. We can calculate the autocorrelation of Harvest Clean returns to help us make a trade decision. For example, suppose you find that Harvest Clean 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 |
Harvest Clean 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 Harvest Clean etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harvest Clean etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harvest Clean etf over time.
Current vs Lagged Prices |
| Timeline |
Harvest Clean Lagged Returns
When evaluating Harvest Clean's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harvest Clean etf have on its future price. Harvest Clean 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, Harvest Clean autocorrelation shows the relationship between Harvest Clean etf current value and its past values and can show if there is a momentum factor associated with investing in Harvest Clean Energy.
Regressed Prices |
| Timeline |
Pair Trading with Harvest Clean
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 Harvest Clean 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 Harvest Clean will appreciate offsetting losses from the drop in the long position's value.Moving together with Harvest Etf
Moving against Harvest Etf
| 0.79 | ETC | Evolve Cryptocurrencies | PairCorr |
| 0.73 | FTN | Financial 15 Split | PairCorr |
| 0.65 | GDV | Global Dividend Growth | PairCorr |
| 0.55 | BNC | Purpose Canadian Fin | PairCorr |
| 0.44 | XQQ | iShares NASDAQ 100 | PairCorr |
The ability to find closely correlated positions to Harvest Clean could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harvest Clean 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 Harvest Clean - 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 Harvest Clean Energy to buy it.
The correlation of Harvest Clean 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 Harvest Clean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Clean Energy 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 Harvest Clean 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 Harvest Etf
Harvest Clean financial ratios help investors to determine whether Harvest 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 Harvest with respect to the benefits of owning Harvest Clean security.