Harvest Healthcare Leaders Etf Market Value
| HHL Etf | CAD 8.12 0.03 0.37% |
| Symbol | Harvest |
Harvest Healthcare '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 Healthcare'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 Healthcare.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Harvest Healthcare on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Harvest Healthcare Leaders or generate 0.0% return on investment in Harvest Healthcare over 720 days. Harvest Healthcare is related to or competes with BMO Covered, First Asset, Harvest Equal, First Asset, and BMO Covered. The ETFs investment objective is to provide Unitholders with the opportunity for capital appreciation monthly cash distr... More
Harvest Healthcare 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 Healthcare'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 Healthcare Leaders upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.36) | |||
| Maximum Drawdown | 2.42 | |||
| Value At Risk | (1.08) | |||
| Potential Upside | 0.8046 |
Harvest Healthcare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harvest Healthcare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harvest Healthcare's standard deviation. In reality, there are many statistical measures that can use Harvest Healthcare historical prices to predict the future Harvest Healthcare's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.20) | |||
| Treynor Ratio | (0.61) |
Harvest Healthcare Backtested Returns
Harvest Healthcare holds Efficiency (Sharpe) Ratio of -0.17, which attests that the entity had a -0.17% return per unit of risk over the last 3 months. Harvest Healthcare exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Harvest Healthcare's Market Risk Adjusted Performance of (0.60), risk adjusted performance of (0.12), and Standard Deviation of 0.6202 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.17, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Harvest Healthcare's returns are expected to increase less than the market. However, during the bear market, the loss of holding Harvest Healthcare is expected to be smaller as well.
Auto-correlation | 0.14 |
Insignificant predictability
Harvest Healthcare Leaders has insignificant predictability. Overlapping area represents the amount of predictability between Harvest Healthcare time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 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 Healthcare price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Harvest Healthcare price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.15 |
Harvest Healthcare lagged returns against current returns
Autocorrelation, which is Harvest Healthcare 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 Healthcare's etf expected returns. We can calculate the autocorrelation of Harvest Healthcare returns to help us make a trade decision. For example, suppose you find that Harvest Healthcare 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 Healthcare 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 Healthcare etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harvest Healthcare etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harvest Healthcare etf over time.
Current vs Lagged Prices |
| Timeline |
Harvest Healthcare Lagged Returns
When evaluating Harvest Healthcare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harvest Healthcare etf have on its future price. Harvest Healthcare 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 Healthcare autocorrelation shows the relationship between Harvest Healthcare etf current value and its past values and can show if there is a momentum factor associated with investing in Harvest Healthcare Leaders.
Regressed Prices |
| Timeline |
Pair Trading with Harvest Healthcare
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 Healthcare 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 Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving together with Harvest Etf
Moving against Harvest Etf
| 0.86 | XIT | iShares SPTSX Capped | PairCorr |
| 0.86 | TEC | TD Global Technology | PairCorr |
| 0.84 | ZSP | BMO SP 500 | PairCorr |
| 0.84 | VFV | Vanguard SP 500 | PairCorr |
| 0.8 | XIU | iShares SPTSX 60 | PairCorr |
The ability to find closely correlated positions to Harvest Healthcare 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 Healthcare 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 Healthcare - 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 Healthcare Leaders to buy it.
The correlation of Harvest Healthcare 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 Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Healthcare 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 Healthcare 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 Healthcare 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 Healthcare security.