Ci Midcap Dividend Etf Market Value
| UMI Etf | CAD 36.94 0.12 0.32% |
| Symbol | UMI |
CI MidCap '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 CI MidCap'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 CI MidCap.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in CI MidCap on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding CI MidCap Dividend or generate 0.0% return on investment in CI MidCap over 720 days. CI MidCap is related to or competes with IShares SPTSX, IShares MSCI, IShares Canadian, PHN Multi, Altagas Cum, and EcoSynthetix. The ETF seeks to track, to the extent possible, the price and yield performance of the WisdomTree U.S More
CI MidCap 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 CI MidCap'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 CI MidCap Dividend upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6226 | |||
| Information Ratio | 0.0419 | |||
| Maximum Drawdown | 5.2 | |||
| Value At Risk | (0.99) | |||
| Potential Upside | 1.35 |
CI MidCap Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CI MidCap's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CI MidCap's standard deviation. In reality, there are many statistical measures that can use CI MidCap historical prices to predict the future CI MidCap's volatility.| Risk Adjusted Performance | 0.1434 | |||
| Jensen Alpha | 0.1284 | |||
| Total Risk Alpha | 0.0205 | |||
| Sortino Ratio | 0.0587 | |||
| Treynor Ratio | 0.7458 |
CI MidCap Dividend Backtested Returns
As of now, UMI Etf is very steady. CI MidCap Dividend retains Efficiency (Sharpe Ratio) of 0.2, which signifies that the etf had a 0.2% return per unit of price deviation over the last 3 months. We have found twenty-seven technical indicators for CI MidCap, which you can use to evaluate the volatility of the entity. Please confirm CI MidCap's Coefficient Of Variation of 538.87, standard deviation of 0.8725, and Market Risk Adjusted Performance of 0.7558 to double-check if the risk estimate we provide is consistent with the expected return of 0.17%. The etf owns a Beta (Systematic Risk) of 0.2, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CI MidCap's returns are expected to increase less than the market. However, during the bear market, the loss of holding CI MidCap is expected to be smaller as well.
Auto-correlation | -0.17 |
Insignificant reverse predictability
CI MidCap Dividend has insignificant reverse predictability. Overlapping area represents the amount of predictability between CI MidCap time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th 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 CI MidCap Dividend price movement. The serial correlation of -0.17 indicates that over 17.0% of current CI MidCap price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.17 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 3.12 |
CI MidCap Dividend lagged returns against current returns
Autocorrelation, which is CI MidCap 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 CI MidCap's etf expected returns. We can calculate the autocorrelation of CI MidCap returns to help us make a trade decision. For example, suppose you find that CI MidCap 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 |
CI MidCap 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 CI MidCap etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CI MidCap etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CI MidCap etf over time.
Current vs Lagged Prices |
| Timeline |
CI MidCap Lagged Returns
When evaluating CI MidCap's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CI MidCap etf have on its future price. CI MidCap 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, CI MidCap autocorrelation shows the relationship between CI MidCap etf current value and its past values and can show if there is a momentum factor associated with investing in CI MidCap Dividend.
Regressed Prices |
| Timeline |
Pair Trading with CI MidCap
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 CI MidCap 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 CI MidCap will appreciate offsetting losses from the drop in the long position's value.Moving together with UMI Etf
| 0.93 | XSU | iShares Small Cap | PairCorr |
| 0.96 | XMC | iShares SP Mid | PairCorr |
| 0.96 | XMH | iShares SP Mid | PairCorr |
| 0.98 | MUMC | Manulife Multifactor Mid | PairCorr |
Moving against UMI Etf
| 0.92 | HIU | BetaPro SP 500 | PairCorr |
| 0.92 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.88 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.6 | HED | BetaPro SPTSX Capped | PairCorr |
The ability to find closely correlated positions to CI MidCap could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI MidCap 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 CI MidCap - 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 CI MidCap Dividend to buy it.
The correlation of CI MidCap 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 CI MidCap moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI MidCap Dividend 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 CI MidCap 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 UMI Etf
CI MidCap financial ratios help investors to determine whether UMI 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 UMI with respect to the benefits of owning CI MidCap security.