Betapro Natural Gas Etf Market Value
| HND Etf | CAD 75.95 7.59 11.10% |
| Symbol | BetaPro |
BetaPro Natural '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 BetaPro Natural'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 BetaPro Natural.
| 09/30/2023 |
| 11/23/2024 |
If you would invest 0.00 in BetaPro Natural on September 30, 2023 and sell it all today you would earn a total of 0.00 from holding BetaPro Natural Gas or generate 0.0% return on investment in BetaPro Natural over 420 days. BetaPro Natural is related to or competes with BetaPro Natural, BetaPro Crude, BetaPro Canadian, BetaPro Crude, and BetaPro Canadian. The investment seeks to replicate two times the inverse of the daily performance, net of expenses, of the NYMEX natural ... More
BetaPro Natural 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 BetaPro Natural'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 BetaPro Natural Gas upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 31.78 | |||
| Value At Risk | (10.73) | |||
| Potential Upside | 10.72 |
BetaPro Natural Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BetaPro Natural's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BetaPro Natural's standard deviation. In reality, there are many statistical measures that can use BetaPro Natural historical prices to predict the future BetaPro Natural's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.99) | |||
| Treynor Ratio | 0.3567 |
BetaPro Natural Gas Backtested Returns
BetaPro Natural Gas secures Sharpe Ratio (or Efficiency) of -0.0451, which signifies that the etf had a -0.0451% return per unit of risk over the last 3 months. BetaPro Natural Gas exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BetaPro Natural's Mean Deviation of 4.98, standard deviation of 6.31, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.48, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning BetaPro Natural are expected to decrease at a much lower rate. During the bear market, BetaPro Natural is likely to outperform the market.
Auto-correlation | 0.33 |
Below average predictability
BetaPro Natural Gas has below average predictability. Overlapping area represents the amount of predictability between BetaPro Natural time series from 30th of September 2023 to 27th of April 2024 and 27th of April 2024 to 23rd 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 BetaPro Natural Gas price movement. The serial correlation of 0.33 indicates that nearly 33.0% of current BetaPro Natural price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.33 | |
| Spearman Rank Test | 0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 245.9 |
BetaPro Natural Gas lagged returns against current returns
Autocorrelation, which is BetaPro Natural 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 BetaPro Natural's etf expected returns. We can calculate the autocorrelation of BetaPro Natural returns to help us make a trade decision. For example, suppose you find that BetaPro Natural 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 |
BetaPro Natural 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 BetaPro Natural etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BetaPro Natural etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BetaPro Natural etf over time.
Current vs Lagged Prices |
| Timeline |
BetaPro Natural Lagged Returns
When evaluating BetaPro Natural's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BetaPro Natural etf have on its future price. BetaPro Natural 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, BetaPro Natural autocorrelation shows the relationship between BetaPro Natural etf current value and its past values and can show if there is a momentum factor associated with investing in BetaPro Natural Gas.
Regressed Prices |
| Timeline |
Pair Trading with BetaPro Natural
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 BetaPro Natural 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 BetaPro Natural will appreciate offsetting losses from the drop in the long position's value.Moving against BetaPro Etf
The ability to find closely correlated positions to BetaPro Natural could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BetaPro Natural 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 BetaPro Natural - 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 BetaPro Natural Gas to buy it.
The correlation of BetaPro Natural 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 BetaPro Natural moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro Natural Gas 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 BetaPro Natural 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 BetaPro Etf
BetaPro Natural financial ratios help investors to determine whether BetaPro 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 BetaPro with respect to the benefits of owning BetaPro Natural security.