Td Select Short Etf Market Value
| TCSB Etf | CAD 14.80 0.02 0.14% |
| Symbol | TCSB |
TD Select '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 TD Select'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 TD Select.
| 01/31/2025 |
| 03/02/2025 |
If you would invest 0.00 in TD Select on January 31, 2025 and sell it all today you would earn a total of 0.00 from holding TD Select Short or generate 0.0% return on investment in TD Select over 30 days. TD Select is related to or competes with IShares Canadian, IShares Core, BMO Short, Vanguard Canadian, BMO Ultra, IShares 1, and Invesco 1. TD Select Short Term Corporate Bond Ladder ETF seeks to earn a high rate of interest while preserving capital through ex... More
TD Select 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 TD Select'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 TD Select Short upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1622 | |||
| Information Ratio | 0.2825 | |||
| Maximum Drawdown | 0.7535 | |||
| Value At Risk | (0.27) | |||
| Potential Upside | 0.2747 |
TD Select Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TD Select's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TD Select's standard deviation. In reality, there are many statistical measures that can use TD Select historical prices to predict the future TD Select's volatility.| Risk Adjusted Performance | 0.1122 | |||
| Jensen Alpha | 0.0235 | |||
| Total Risk Alpha | 0.0272 | |||
| Sortino Ratio | 0.2785 | |||
| Treynor Ratio | 0.3889 |
TD Select Short Backtested Returns
As of now, TCSB Etf is very steady. TD Select Short retains Efficiency (Sharpe Ratio) of 0.15, which indicates the etf had a 0.15 % return per unit of price deviation over the last 3 months. We have found twenty-nine technical indicators for TD Select, which you can use to evaluate the volatility of the etf. Please validate TD Select's Risk Adjusted Performance of 0.1122, mean deviation of 0.1259, and Coefficient Of Variation of 496.8 to confirm if the risk estimate we provide is consistent with the expected return of 0.0232%. The entity owns a Beta (Systematic Risk) of 0.0571, which indicates not very significant fluctuations relative to the market. As returns on the market increase, TD Select's returns are expected to increase less than the market. However, during the bear market, the loss of holding TD Select is expected to be smaller as well.
Auto-correlation | -0.39 |
Poor reverse predictability
TD Select Short has poor reverse predictability. Overlapping area represents the amount of predictability between TD Select time series from 31st of January 2025 to 15th of February 2025 and 15th of February 2025 to 2nd of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of TD Select Short price movement. The serial correlation of -0.39 indicates that just about 39.0% of current TD Select price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
TD Select Short lagged returns against current returns
Autocorrelation, which is TD Select 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 TD Select's etf expected returns. We can calculate the autocorrelation of TD Select returns to help us make a trade decision. For example, suppose you find that TD Select 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 |
TD Select 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 TD Select etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TD Select etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TD Select etf over time.
Current vs Lagged Prices |
| Timeline |
TD Select Lagged Returns
When evaluating TD Select's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TD Select etf have on its future price. TD Select 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, TD Select autocorrelation shows the relationship between TD Select etf current value and its past values and can show if there is a momentum factor associated with investing in TD Select Short.
Regressed Prices |
| Timeline |
Pair Trading with TD Select
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 TD Select 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 TD Select will appreciate offsetting losses from the drop in the long position's value.Moving together with TCSB Etf
| 0.99 | XSB | iShares Canadian Short | PairCorr |
| 0.99 | XSH | iShares Core Canadian | PairCorr |
| 0.99 | ZCS | BMO Short Corporate | PairCorr |
| 0.99 | VSB | Vanguard Canadian Short | PairCorr |
| 0.88 | ZST | BMO Ultra Short | PairCorr |
Moving against TCSB Etf
The ability to find closely correlated positions to TD Select could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TD Select 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 TD Select - 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 TD Select Short to buy it.
The correlation of TD Select 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 TD Select moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Select Short 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 TD Select 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 TCSB Etf
TD Select financial ratios help investors to determine whether TCSB 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 TCSB with respect to the benefits of owning TD Select security.