Wealthsimple North America Etf Market Value
| WSRI Etf | CAD 44.83 0.36 0.81% |
| Symbol | Wealthsimple |
Wealthsimple North '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 Wealthsimple North'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 Wealthsimple North.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Wealthsimple North on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Wealthsimple North America or generate 0.0% return on investment in Wealthsimple North over 270 days. Wealthsimple North is related to or competes with BMO Mid, BMO High, IShares Core, and BMO Short. WEALTHSIMPLE is traded on Toronto Stock Exchange in Canada. More
Wealthsimple North 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 Wealthsimple North'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 Wealthsimple North America upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4847 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 2.3 | |||
| Value At Risk | (0.78) | |||
| Potential Upside | 1.02 |
Wealthsimple North Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wealthsimple North's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wealthsimple North's standard deviation. In reality, there are many statistical measures that can use Wealthsimple North historical prices to predict the future Wealthsimple North's volatility.| Risk Adjusted Performance | 0.1382 | |||
| Jensen Alpha | 0.0506 | |||
| Total Risk Alpha | 0.0054 | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.2669 |
Wealthsimple North Backtested Returns
As of now, Wealthsimple Etf is very steady. Wealthsimple North shows Sharpe Ratio of 0.17, which attests that the etf had a 0.17% return per unit of risk over the last 3 months. We have found thirty technical indicators for Wealthsimple North, which you can use to evaluate the volatility of the etf. Please check out Wealthsimple North's Mean Deviation of 0.4522, downside deviation of 0.4847, and Market Risk Adjusted Performance of 0.2769 to validate if the risk estimate we provide is consistent with the expected return of 0.096%. The entity maintains a market beta of 0.35, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Wealthsimple North's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wealthsimple North is expected to be smaller as well.
Auto-correlation | 0.25 |
Poor predictability
Wealthsimple North America has poor predictability. Overlapping area represents the amount of predictability between Wealthsimple North time series from 27th of February 2024 to 11th of July 2024 and 11th of July 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 Wealthsimple North price movement. The serial correlation of 0.25 indicates that over 25.0% of current Wealthsimple North price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.25 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 1.59 |
Wealthsimple North lagged returns against current returns
Autocorrelation, which is Wealthsimple North 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 Wealthsimple North's etf expected returns. We can calculate the autocorrelation of Wealthsimple North returns to help us make a trade decision. For example, suppose you find that Wealthsimple North 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 |
Wealthsimple North 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 Wealthsimple North etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wealthsimple North etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wealthsimple North etf over time.
Current vs Lagged Prices |
| Timeline |
Wealthsimple North Lagged Returns
When evaluating Wealthsimple North's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wealthsimple North etf have on its future price. Wealthsimple North 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, Wealthsimple North autocorrelation shows the relationship between Wealthsimple North etf current value and its past values and can show if there is a momentum factor associated with investing in Wealthsimple North America.
Regressed Prices |
| Timeline |
Pair Trading with Wealthsimple North
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 Wealthsimple North 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 Wealthsimple North will appreciate offsetting losses from the drop in the long position's value.Moving together with Wealthsimple Etf
| 0.94 | Purpose Core Dividend | PairCorr | |
| 0.9 | ZFN | BMO SIA Focused | PairCorr |
| 0.84 | PBI | Purpose Best Ideas | PairCorr |
| 0.93 | PDIV | Purpose Enhanced Dividend | PairCorr |
The ability to find closely correlated positions to Wealthsimple North could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wealthsimple North 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 Wealthsimple North - 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 Wealthsimple North America to buy it.
The correlation of Wealthsimple North 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 Wealthsimple North moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wealthsimple North 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 Wealthsimple North 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 Wealthsimple Etf
Wealthsimple North financial ratios help investors to determine whether Wealthsimple 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 Wealthsimple with respect to the benefits of owning Wealthsimple North security.