Hamilton Midsmall Cap Financials Etf Market Value

HUM Etf  CAD 38.99  0.09  0.23%   
Hamilton MidSmall's market value is the price at which a share of Hamilton MidSmall trades on a public exchange. It measures the collective expectations of Hamilton MidSmall Cap Financials investors about its performance. Hamilton MidSmall is selling at 38.99 as of the 27th of November 2024; that is 0.23 percent decrease since the beginning of the trading day. The etf's open price was 39.08.
With this module, you can estimate the performance of a buy and hold strategy of Hamilton MidSmall Cap Financials and determine expected loss or profit from investing in Hamilton MidSmall over a given investment horizon. Check out Hamilton MidSmall Correlation, Hamilton MidSmall Volatility and Hamilton MidSmall Alpha and Beta module to complement your research on Hamilton MidSmall.
Symbol

Please note, there is a significant difference between Hamilton MidSmall's value and its price as these two are different measures arrived at by different means. Investors typically determine if Hamilton MidSmall is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Hamilton MidSmall's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Hamilton MidSmall '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 MidSmall'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 MidSmall.
0.00
10/28/2024
No Change 0.00  0.0 
In 31 days
11/27/2024
0.00
If you would invest  0.00  in Hamilton MidSmall on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Hamilton MidSmall Cap Financials or generate 0.0% return on investment in Hamilton MidSmall over 30 days. Hamilton MidSmall is related to or competes with CI Canadian, Condor Gold, BMO Mid, Celestica, and Descartes Systems. HAMILTON is traded on Toronto Stock Exchange in Canada. More

Hamilton MidSmall 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 MidSmall'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 MidSmall Cap Financials upside and downside potential and time the market with a certain degree of confidence.

Hamilton MidSmall Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Hamilton MidSmall's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hamilton MidSmall's standard deviation. In reality, there are many statistical measures that can use Hamilton MidSmall historical prices to predict the future Hamilton MidSmall's volatility.
Hype
Prediction
LowEstimatedHigh
37.4838.9940.50
Details
Intrinsic
Valuation
LowRealHigh
35.0941.4342.94
Details
Naive
Forecast
LowNextHigh
37.5739.0840.59
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
33.3636.6739.98
Details

Hamilton MidSmall Cap Backtested Returns

Hamilton MidSmall appears to be very steady, given 3 months investment horizon. Hamilton MidSmall Cap holds Efficiency (Sharpe) Ratio of 0.19, which attests that the entity had a 0.19% return per unit of risk over the last 3 months. We have found thirty technical indicators for Hamilton MidSmall Cap, which you can use to evaluate the volatility of the entity. Please utilize Hamilton MidSmall's Downside Deviation of 0.9535, market risk adjusted performance of 0.3008, and Risk Adjusted Performance of 0.165 to validate if our risk estimates are consistent with your expectations. The etf retains a Market Volatility (i.e., Beta) of 1.05, which attests to a somewhat significant risk relative to the market. Hamilton MidSmall returns are very sensitive to returns on the market. As the market goes up or down, Hamilton MidSmall is expected to follow.

Auto-correlation

    
  0.82  

Very good predictability

Hamilton MidSmall Cap Financials has very good predictability. Overlapping area represents the amount of predictability between Hamilton MidSmall time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 MidSmall Cap price movement. The serial correlation of 0.82 indicates that around 82.0% of current Hamilton MidSmall price fluctuation can be explain by its past prices.
Correlation Coefficient0.82
Spearman Rank Test0.52
Residual Average0.0
Price Variance0.51

Hamilton MidSmall Cap lagged returns against current returns

Autocorrelation, which is Hamilton MidSmall 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 MidSmall's etf expected returns. We can calculate the autocorrelation of Hamilton MidSmall returns to help us make a trade decision. For example, suppose you find that Hamilton MidSmall 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 MidSmall 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 MidSmall etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hamilton MidSmall etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hamilton MidSmall etf over time.
   Current vs Lagged Prices   
       Timeline  

Hamilton MidSmall Lagged Returns

When evaluating Hamilton MidSmall's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hamilton MidSmall etf have on its future price. Hamilton MidSmall 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 MidSmall autocorrelation shows the relationship between Hamilton MidSmall etf current value and its past values and can show if there is a momentum factor associated with investing in Hamilton MidSmall Cap Financials.
   Regressed Prices   
       Timeline  

Pair Trading with Hamilton MidSmall

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 MidSmall 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 MidSmall will appreciate offsetting losses from the drop in the long position's value.

Moving together with Hamilton Etf

  0.82ZEB BMO SPTSX EqualPairCorr
  0.9XFN iShares SPTSX CappedPairCorr
  0.98ZBK BMO Equal WeightPairCorr
  0.8HCA Hamilton Canadian BankPairCorr
  0.98ZUB BMO Equal WeightPairCorr

Moving against Hamilton Etf

  0.69RIT CI Canadian REITPairCorr
  0.62TCLB TD Canadian LongPairCorr
The ability to find closely correlated positions to Hamilton MidSmall 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 MidSmall 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 MidSmall - 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 MidSmall Cap Financials to buy it.
The correlation of Hamilton MidSmall 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 MidSmall moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton MidSmall Cap 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 MidSmall 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in Hamilton Etf

Hamilton MidSmall 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 MidSmall security.