Hamilton Canadian Bank Etf Market Value
| HEB Etf | 19.92 0.18 0.91% |
| Symbol | Hamilton |
Hamilton Canadian '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 Hamilton Canadian'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 Hamilton Canadian.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Hamilton Canadian on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Hamilton Canadian Bank or generate 0.0% return on investment in Hamilton Canadian over 180 days. Hamilton Canadian is related to or competes with Brompton Global, Tech Leaders, Global Healthcare, and Brompton Flaherty. Hamilton Canadian is entity of Canada. It is traded as Etf on TO exchange. More
Hamilton Canadian 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 Hamilton Canadian'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 Hamilton Canadian Bank upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4874 | |||
| Information Ratio | 0.1799 | |||
| Maximum Drawdown | 2.57 | |||
| Value At Risk | (0.60) | |||
| Potential Upside | 1.0 |
Hamilton Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hamilton Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hamilton Canadian's standard deviation. In reality, there are many statistical measures that can use Hamilton Canadian historical prices to predict the future Hamilton Canadian's volatility.| Risk Adjusted Performance | 0.334 | |||
| Jensen Alpha | 0.1958 | |||
| Total Risk Alpha | 0.1319 | |||
| Sortino Ratio | 0.1838 | |||
| Treynor Ratio | 1.75 |
Hamilton Canadian Bank Backtested Returns
Hamilton Canadian appears to be very steady, given 3 months investment horizon. Hamilton Canadian Bank holds Efficiency (Sharpe) Ratio of 0.46, which attests that the entity had a 0.46% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hamilton Canadian Bank, which you can use to evaluate the volatility of the entity. Please utilize Hamilton Canadian's Coefficient Of Variation of 226.0, risk adjusted performance of 0.334, and Market Risk Adjusted Performance of 1.76 to validate if our risk estimates are consistent with your expectations. The etf retains a Market Volatility (i.e., Beta) of 0.12, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hamilton Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hamilton Canadian is expected to be smaller as well.
Auto-correlation | 0.56 |
Modest predictability
Hamilton Canadian Bank has modest predictability. Overlapping area represents the amount of predictability between Hamilton Canadian time series from 30th of May 2024 to 28th of August 2024 and 28th of August 2024 to 26th 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 Hamilton Canadian Bank price movement. The serial correlation of 0.56 indicates that roughly 56.0% of current Hamilton Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.56 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 0.31 |
Hamilton Canadian Bank lagged returns against current returns
Autocorrelation, which is Hamilton Canadian 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 Hamilton Canadian's etf expected returns. We can calculate the autocorrelation of Hamilton Canadian returns to help us make a trade decision. For example, suppose you find that Hamilton Canadian 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 |
Hamilton Canadian 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 Hamilton Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hamilton Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hamilton Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
Hamilton Canadian Lagged Returns
When evaluating Hamilton Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hamilton Canadian etf have on its future price. Hamilton Canadian 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, Hamilton Canadian autocorrelation shows the relationship between Hamilton Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in Hamilton Canadian Bank.
Regressed Prices |
| Timeline |
Pair Trading with Hamilton Canadian
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 Hamilton Canadian 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 Hamilton Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Hamilton Etf
| 1.0 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.98 | XFN | iShares SPTSX Capped | PairCorr |
| 0.76 | ZBK | BMO Equal Weight | PairCorr |
| 0.98 | HCA | Hamilton Canadian Bank | PairCorr |
| 0.73 | ZUB | BMO Equal Weight | PairCorr |
The ability to find closely correlated positions to Hamilton Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hamilton Canadian 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 Hamilton Canadian - 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 Hamilton Canadian Bank to buy it.
The correlation of Hamilton Canadian 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 Hamilton Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Canadian Bank 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 Hamilton Canadian 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 Hamilton Etf
Hamilton Canadian financial ratios help investors to determine whether Hamilton 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 Hamilton with respect to the benefits of owning Hamilton Canadian security.