Harvest Global Gold Etf Market Value
| HGGG Etf | CAD 35.59 0.13 0.37% |
| Symbol | Harvest |
Harvest Global '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 Global'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 Global.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Harvest Global on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Harvest Global Gold or generate 0.0% return on investment in Harvest Global over 30 days. Harvest Global is related to or competes with IShares SPTSX, BMO Junior, and . The ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solac... More
Harvest Global 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 Global'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 Global Gold upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.75 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 13.43 | |||
| Value At Risk | (2.42) | |||
| Potential Upside | 3.63 |
Harvest Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harvest Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harvest Global's standard deviation. In reality, there are many statistical measures that can use Harvest Global historical prices to predict the future Harvest Global's volatility.| Risk Adjusted Performance | 0.0487 | |||
| Jensen Alpha | 0.0934 | |||
| Total Risk Alpha | (0.23) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 2.0 |
Harvest Global Gold Backtested Returns
As of now, Harvest Etf is very steady. Harvest Global Gold holds Efficiency (Sharpe) Ratio of 0.0926, which attests that the entity had a 0.0926% return per unit of risk over the last 3 months. We have found thirty technical indicators for Harvest Global Gold, which you can use to evaluate the volatility of the entity. Please check out Harvest Global's Market Risk Adjusted Performance of 2.01, downside deviation of 1.75, and Risk Adjusted Performance of 0.0487 to validate if the risk estimate we provide is consistent with the expected return of 0.18%. The etf retains a Market Volatility (i.e., Beta) of 0.0499, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Harvest Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding Harvest Global is expected to be smaller as well.
Auto-correlation | -0.65 |
Very good reverse predictability
Harvest Global Gold has very good reverse predictability. Overlapping area represents the amount of predictability between Harvest Global time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Global Gold price movement. The serial correlation of -0.65 indicates that roughly 65.0% of current Harvest Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.65 | |
| Spearman Rank Test | -0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 0.49 |
Harvest Global Gold lagged returns against current returns
Autocorrelation, which is Harvest Global 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 Global's etf expected returns. We can calculate the autocorrelation of Harvest Global returns to help us make a trade decision. For example, suppose you find that Harvest Global 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 Global 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 Global etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harvest Global etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harvest Global etf over time.
Current vs Lagged Prices |
| Timeline |
Harvest Global Lagged Returns
When evaluating Harvest Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harvest Global etf have on its future price. Harvest Global 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 Global autocorrelation shows the relationship between Harvest Global etf current value and its past values and can show if there is a momentum factor associated with investing in Harvest Global Gold.
Regressed Prices |
| Timeline |
Pair Trading with Harvest Global
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 Global 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 Global will appreciate offsetting losses from the drop in the long position's value.Moving together with Harvest Etf
| 0.88 | XGD | iShares SPTSX Global | PairCorr |
| 0.98 | ZGD | BMO Equal Weight | PairCorr |
| 0.97 | ZJG | BMO Junior Gold | PairCorr |
| 0.88 | HEP | Global X Enhanced | PairCorr |
Moving against Harvest Etf
The ability to find closely correlated positions to Harvest Global 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 Global 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 Global - 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 Global Gold to buy it.
The correlation of Harvest Global 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 Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Global Gold 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 Global 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 Global 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 Global security.