Mackenzie International Equity Etf Market Value
| QDX Etf | CAD 118.29 0.68 0.58% |
| Symbol | Mackenzie |
Mackenzie International '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 International'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 International.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Mackenzie International on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Mackenzie International Equity or generate 0.0% return on investment in Mackenzie International over 30 days. Mackenzie International is related to or competes with Vanguard FTSE, IShares MSCI, BMO MSCI, and BMO Low. Mackenzie International Equity Index ETF seeks to replicate, to the extent reasonably possible and before fees and expen... More
Mackenzie International 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 International'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 International Equity upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 3.3 | |||
| Value At Risk | (1.09) | |||
| Potential Upside | 1.21 |
Mackenzie International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mackenzie International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mackenzie International's standard deviation. In reality, there are many statistical measures that can use Mackenzie International historical prices to predict the future Mackenzie International's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | 2.15 |
Mackenzie International Backtested Returns
Mackenzie International has Sharpe Ratio of -0.0325, which conveys that the entity had a -0.0325% return per unit of risk over the last 3 months. Mackenzie International exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Mackenzie International's Standard Deviation of 0.7239, mean deviation of 0.5719, and Risk Adjusted Performance of (0.03) to check out the risk estimate we provide. The etf secures a Beta (Market Risk) of -0.0163, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Mackenzie International are expected to decrease at a much lower rate. During the bear market, Mackenzie International is likely to outperform the market.
Auto-correlation | 0.61 |
Good predictability
Mackenzie International Equity has good predictability. Overlapping area represents the amount of predictability between Mackenzie International time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Mackenzie International price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current Mackenzie International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.61 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.58 |
Mackenzie International lagged returns against current returns
Autocorrelation, which is Mackenzie International 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 International's etf expected returns. We can calculate the autocorrelation of Mackenzie International returns to help us make a trade decision. For example, suppose you find that Mackenzie International 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 International 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 International etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mackenzie International etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mackenzie International etf over time.
Current vs Lagged Prices |
| Timeline |
Mackenzie International Lagged Returns
When evaluating Mackenzie International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mackenzie International etf have on its future price. Mackenzie International 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 International autocorrelation shows the relationship between Mackenzie International etf current value and its past values and can show if there is a momentum factor associated with investing in Mackenzie International Equity.
Regressed Prices |
| Timeline |
Pair Trading with Mackenzie International
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 International 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 International will appreciate offsetting losses from the drop in the long position's value.Moving together with Mackenzie Etf
| 0.97 | XEF | iShares Core MSCI | PairCorr |
| 0.97 | ZEA | BMO MSCI EAFE | PairCorr |
| 0.96 | VIU | Vanguard FTSE Developed | PairCorr |
| 0.77 | XIN | iShares MSCI EAFE | PairCorr |
| 0.74 | XFH | iShares Core MSCI | PairCorr |
The ability to find closely correlated positions to Mackenzie International 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 International 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 International - 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 International Equity to buy it.
The correlation of Mackenzie International 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 International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie International 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 International 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 International 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 International security.