Nbi High Yield Etf Market Value
| NHYB Etf | CAD 21.91 0.06 0.27% |
| Symbol | NBI |
NBI High '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 NBI High'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 NBI High.
| 01/31/2024 |
| 11/26/2024 |
If you would invest 0.00 in NBI High on January 31, 2024 and sell it all today you would earn a total of 0.00 from holding NBI High Yield or generate 0.0% return on investment in NBI High over 300 days. NBI High is related to or competes with NBI Unconstrained, NBI Sustainable, and Mackenzie Floating. NBI HIGH is traded on Toronto Stock Exchange in Canada. More
NBI High 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 NBI High'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 NBI High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4447 | |||
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 1.75 | |||
| Value At Risk | (0.73) | |||
| Potential Upside | 0.6554 |
NBI High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NBI High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NBI High's standard deviation. In reality, there are many statistical measures that can use NBI High historical prices to predict the future NBI High's volatility.| Risk Adjusted Performance | 0.0706 | |||
| Jensen Alpha | 0.028 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.20) | |||
| Treynor Ratio | 2.95 |
NBI High Yield Backtested Returns
As of now, NBI Etf is very steady. NBI High Yield has Sharpe Ratio of 0.1, which conveys that the etf had a 0.1% return per unit of volatility over the last 3 months. We have found twenty-seven technical indicators for NBI High, which you can use to evaluate the volatility of the entity. Please verify NBI High's Mean Deviation of 0.2675, market risk adjusted performance of 2.96, and Downside Deviation of 0.4447 to check out if the risk estimate we provide is consistent with the expected return of 0.0373%. The entity secures a Beta (Market Risk) of 0.0099, which conveys not very significant fluctuations relative to the market. As returns on the market increase, NBI High's returns are expected to increase less than the market. However, during the bear market, the loss of holding NBI High is expected to be smaller as well.
Auto-correlation | 0.41 |
Average predictability
NBI High Yield has average predictability. Overlapping area represents the amount of predictability between NBI High time series from 31st of January 2024 to 29th of June 2024 and 29th of June 2024 to 26th 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 NBI High Yield price movement. The serial correlation of 0.41 indicates that just about 41.0% of current NBI High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.41 | |
| Spearman Rank Test | 0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 0.13 |
NBI High Yield lagged returns against current returns
Autocorrelation, which is NBI High 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 NBI High's etf expected returns. We can calculate the autocorrelation of NBI High returns to help us make a trade decision. For example, suppose you find that NBI High 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 |
NBI High 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 NBI High etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NBI High etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NBI High etf over time.
Current vs Lagged Prices |
| Timeline |
NBI High Lagged Returns
When evaluating NBI High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NBI High etf have on its future price. NBI High 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, NBI High autocorrelation shows the relationship between NBI High etf current value and its past values and can show if there is a momentum factor associated with investing in NBI High Yield.
Regressed Prices |
| Timeline |
Pair Trading with NBI High
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 NBI High 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 NBI High will appreciate offsetting losses from the drop in the long position's value.Moving together with NBI Etf
The ability to find closely correlated positions to NBI High could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NBI High 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 NBI High - 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 NBI High Yield to buy it.
The correlation of NBI High 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 NBI High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NBI High Yield 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 NBI High 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 NBI Etf
NBI High financial ratios help investors to determine whether NBI 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 NBI with respect to the benefits of owning NBI High security.