Harvest Energy Leaders Etf Market Value
| HPF-U Etf | USD 4.05 0.02 0.49% |
| Symbol | Harvest |
Harvest Energy '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 Energy'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 Energy.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Harvest Energy on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Harvest Energy Leaders or generate 0.0% return on investment in Harvest Energy over 540 days. Harvest Energy is related to or competes with Brompton Global, Global Healthcare, Tech Leaders, and Brompton North. The ETFs investment objective is to provide Unitholders with monthly cash distributions the opportunity for capital appr... More
Harvest Energy 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 Energy'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 Energy Leaders upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 5.17 | |||
| Value At Risk | (2.42) | |||
| Potential Upside | 1.5 |
Harvest Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harvest Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harvest Energy's standard deviation. In reality, there are many statistical measures that can use Harvest Energy historical prices to predict the future Harvest Energy's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.20) | |||
| Treynor Ratio | (0.53) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Harvest Energy's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Harvest Energy Leaders Backtested Returns
Currently, Harvest Energy Leaders is somewhat reliable. Harvest Energy Leaders holds Efficiency (Sharpe) Ratio of 0.0131, which attests that the entity had a 0.0131% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Harvest Energy Leaders, which you can use to evaluate the volatility of the entity. Please check out Harvest Energy's Standard Deviation of 1.03, risk adjusted performance of (0.02), and Market Risk Adjusted Performance of (0.52) to validate if the risk estimate we provide is consistent with the expected return of 0.0135%. The etf retains a Market Volatility (i.e., Beta) of 0.0856, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Harvest Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Harvest Energy is expected to be smaller as well.
Auto-correlation | 0.14 |
Insignificant predictability
Harvest Energy Leaders has insignificant predictability. Overlapping area represents the amount of predictability between Harvest Energy time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Energy Leaders price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Harvest Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Harvest Energy Leaders lagged returns against current returns
Autocorrelation, which is Harvest Energy 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 Energy's etf expected returns. We can calculate the autocorrelation of Harvest Energy returns to help us make a trade decision. For example, suppose you find that Harvest Energy 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 Energy 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 Energy etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harvest Energy etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harvest Energy etf over time.
Current vs Lagged Prices |
| Timeline |
Harvest Energy Lagged Returns
When evaluating Harvest Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harvest Energy etf have on its future price. Harvest Energy 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 Energy autocorrelation shows the relationship between Harvest Energy etf current value and its past values and can show if there is a momentum factor associated with investing in Harvest Energy Leaders.
Regressed Prices |
| Timeline |
Pair Trading with Harvest Energy
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 Energy 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 Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Harvest Etf
| 0.7 | DCG | Desjardins 1 5 | PairCorr |
| 0.67 | CLF | iShares 1 5 | PairCorr |
| 0.6 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.59 | XBB | iShares Canadian Universe | PairCorr |
| 0.59 | ZFS-L | BMO Short Federal | PairCorr |
The ability to find closely correlated positions to Harvest Energy 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 Energy 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 Energy - 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 Energy Leaders to buy it.
The correlation of Harvest Energy 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 Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Energy Leaders 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 Energy 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 Energy 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 Energy security.