Mackenzie Core Plus Etf Market Value
| MKB Etf | CAD 19.10 0.02 0.10% |
| Symbol | Mackenzie |
Mackenzie Core '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 Mackenzie Core'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 Mackenzie Core.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Mackenzie Core on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Mackenzie Core Plus or generate 0.0% return on investment in Mackenzie Core over 30 days. Mackenzie Core is related to or competes with Mackenzie Core, Mackenzie Unconstrained, Mackenzie Floating, Mackenzie Canadian, and Mackenzie Canadian. Mackenzie Core Plus Canadian Fixed Income ETF seeks to provide a steady flow of income with an emphasis on capital prese... More
Mackenzie Core 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 Mackenzie Core'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 Mackenzie Core Plus upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.43) | |||
| Maximum Drawdown | 1.14 | |||
| Value At Risk | (0.46) | |||
| Potential Upside | 0.4199 |
Mackenzie Core Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mackenzie Core's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mackenzie Core's standard deviation. In reality, there are many statistical measures that can use Mackenzie Core historical prices to predict the future Mackenzie Core's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.05) | |||
| Treynor Ratio | 0.8107 |
Mackenzie Core Plus Backtested Returns
Mackenzie Core Plus has Sharpe Ratio of -0.0196, which conveys that the entity had a -0.0196% return per unit of risk over the last 3 months. Mackenzie Core exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Mackenzie Core's Risk Adjusted Performance of (0.04), mean deviation of 0.2208, and Standard Deviation of 0.2731 to check out the risk estimate we provide. The etf secures a Beta (Market Risk) of -0.0236, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Mackenzie Core are expected to decrease at a much lower rate. During the bear market, Mackenzie Core is likely to outperform the market.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
Mackenzie Core Plus has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Mackenzie Core time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Mackenzie Core Plus price movement. The serial correlation of -0.72 indicates that around 72.0% of current Mackenzie Core price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Mackenzie Core Plus lagged returns against current returns
Autocorrelation, which is Mackenzie Core 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 Mackenzie Core's etf expected returns. We can calculate the autocorrelation of Mackenzie Core returns to help us make a trade decision. For example, suppose you find that Mackenzie Core 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 |
Mackenzie Core 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 Mackenzie Core etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mackenzie Core etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mackenzie Core etf over time.
Current vs Lagged Prices |
| Timeline |
Mackenzie Core Lagged Returns
When evaluating Mackenzie Core's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mackenzie Core etf have on its future price. Mackenzie Core 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, Mackenzie Core autocorrelation shows the relationship between Mackenzie Core etf current value and its past values and can show if there is a momentum factor associated with investing in Mackenzie Core Plus.
Regressed Prices |
| Timeline |
Pair Trading with Mackenzie Core
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 Mackenzie Core 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 Mackenzie Core will appreciate offsetting losses from the drop in the long position's value.Moving together with Mackenzie Etf
| 0.92 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.93 | XBB | iShares Canadian Universe | PairCorr |
| 0.93 | ZCPB | BMO Core Plus | PairCorr |
| 0.91 | ZDB | BMO Discount Bond | PairCorr |
| 0.84 | XGB | iShares Canadian Gov | PairCorr |
The ability to find closely correlated positions to Mackenzie Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mackenzie Core 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 Mackenzie Core - 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 Mackenzie Core Plus to buy it.
The correlation of Mackenzie Core 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 Mackenzie Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie Core Plus 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 Mackenzie Core 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 Mackenzie Etf
Mackenzie Core financial ratios help investors to determine whether Mackenzie 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 Mackenzie with respect to the benefits of owning Mackenzie Core security.