Manulife Multifactor Canadian Etf Market Value
| MCLC Etf | CAD 43.05 0.38 0.87% |
| Symbol | Manulife |
Manulife Multifactor '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 Manulife Multifactor'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 Manulife Multifactor.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in Manulife Multifactor on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding Manulife Multifactor Canadian or generate 0.0% return on investment in Manulife Multifactor over 90 days. Manulife Multifactor is related to or competes with IShares SPTSX, IShares Core, BMO SPTSX, Vanguard FTSE, Global X, Mackenzie Canadian, and First Asset. MCLC seeks to track the performance of the John Hancock Dimensional Canadian Large Cap Equity Index , before fees and ex... More
Manulife Multifactor 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 Manulife Multifactor'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 Manulife Multifactor Canadian upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5221 | |||
| Information Ratio | 0.0574 | |||
| Maximum Drawdown | 3.28 | |||
| Value At Risk | (0.65) | |||
| Potential Upside | 0.9681 |
Manulife Multifactor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Manulife Multifactor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Manulife Multifactor's standard deviation. In reality, there are many statistical measures that can use Manulife Multifactor historical prices to predict the future Manulife Multifactor's volatility.| Risk Adjusted Performance | 0.2083 | |||
| Jensen Alpha | 0.113 | |||
| Total Risk Alpha | 0.0612 | |||
| Sortino Ratio | 0.0579 | |||
| Treynor Ratio | 0.5225 |
Manulife Multifactor Backtested Returns
As of now, Manulife Etf is very steady. Manulife Multifactor has Sharpe Ratio of 0.29, which conveys that the entity had a 0.29% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Manulife Multifactor, which you can use to evaluate the volatility of the etf. Please verify Manulife Multifactor's Downside Deviation of 0.5221, mean deviation of 0.3865, and Risk Adjusted Performance of 0.2083 to check out if the risk estimate we provide is consistent with the expected return of 0.14%. The etf secures a Beta (Market Risk) of 0.28, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Manulife Multifactor's returns are expected to increase less than the market. However, during the bear market, the loss of holding Manulife Multifactor is expected to be smaller as well.
Auto-correlation | 0.92 |
Excellent predictability
Manulife Multifactor Canadian has excellent predictability. Overlapping area represents the amount of predictability between Manulife Multifactor time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th of December 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 Manulife Multifactor price movement. The serial correlation of 0.92 indicates that approximately 92.0% of current Manulife Multifactor price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.92 | |
| Spearman Rank Test | 0.92 | |
| Residual Average | 0.0 | |
| Price Variance | 0.69 |
Manulife Multifactor lagged returns against current returns
Autocorrelation, which is Manulife Multifactor 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 Manulife Multifactor's etf expected returns. We can calculate the autocorrelation of Manulife Multifactor returns to help us make a trade decision. For example, suppose you find that Manulife Multifactor 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 |
Manulife Multifactor 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 Manulife Multifactor etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Manulife Multifactor etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Manulife Multifactor etf over time.
Current vs Lagged Prices |
| Timeline |
Manulife Multifactor Lagged Returns
When evaluating Manulife Multifactor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Manulife Multifactor etf have on its future price. Manulife Multifactor 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, Manulife Multifactor autocorrelation shows the relationship between Manulife Multifactor etf current value and its past values and can show if there is a momentum factor associated with investing in Manulife Multifactor Canadian.
Regressed Prices |
| Timeline |
Pair Trading with Manulife Multifactor
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 Manulife Multifactor 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 Manulife Multifactor will appreciate offsetting losses from the drop in the long position's value.Moving together with Manulife Etf
| 0.99 | XIU | iShares SPTSX 60 | PairCorr |
| 1.0 | XIC | iShares Core SPTSX | PairCorr |
| 1.0 | ZCN | BMO SPTSX Capped | PairCorr |
| 1.0 | VCN | Vanguard FTSE Canada | PairCorr |
| 0.99 | HXT | Global X SPTSX | PairCorr |
Moving against Manulife Etf
The ability to find closely correlated positions to Manulife Multifactor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Manulife Multifactor 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 Manulife Multifactor - 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 Manulife Multifactor Canadian to buy it.
The correlation of Manulife Multifactor 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 Manulife Multifactor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Manulife Multifactor 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 Manulife Multifactor 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 Manulife Etf
Manulife Multifactor financial ratios help investors to determine whether Manulife 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 Manulife with respect to the benefits of owning Manulife Multifactor security.