Ishares Global Healthcare Etf Market Value
| XHC Etf | CAD 71.17 0.29 0.41% |
| Symbol | IShares |
IShares Global '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 IShares Global'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 IShares Global.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in IShares Global on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding iShares Global Healthcare or generate 0.0% return on investment in IShares Global over 30 days. IShares Global is related to or competes with BMO Equal, BMO SPTSX, and BMO Equal. The investment seeks to replicate, net of expenses, the performance of the SP Global 1200 Health Care Sector Canadian Do... More
IShares Global 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 IShares Global'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 iShares Global Healthcare upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.40) | |||
| Maximum Drawdown | 2.89 | |||
| Value At Risk | (1.17) | |||
| Potential Upside | 0.7321 |
IShares Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares Global's standard deviation. In reality, there are many statistical measures that can use IShares Global historical prices to predict the future IShares Global's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | (0.49) |
iShares Global Healthcare Backtested Returns
iShares Global Healthcare holds Efficiency (Sharpe) Ratio of -0.21, which attests that the entity had a -0.21% return per unit of risk over the last 3 months. iShares Global Healthcare exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out IShares Global's Risk Adjusted Performance of (0.15), market risk adjusted performance of (0.48), and Standard Deviation of 0.609 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.26, which attests to not very significant fluctuations relative to the market. As returns on the market increase, IShares Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding IShares Global is expected to be smaller as well.
Auto-correlation | 0.76 |
Good predictability
iShares Global Healthcare has good predictability. Overlapping area represents the amount of predictability between IShares Global 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 iShares Global Healthcare price movement. The serial correlation of 0.76 indicates that around 76.0% of current IShares Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 1.27 |
iShares Global Healthcare lagged returns against current returns
Autocorrelation, which is IShares Global 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 IShares Global's etf expected returns. We can calculate the autocorrelation of IShares Global returns to help us make a trade decision. For example, suppose you find that IShares Global 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 |
IShares Global 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 IShares Global etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares Global etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares Global etf over time.
Current vs Lagged Prices |
| Timeline |
IShares Global Lagged Returns
When evaluating IShares Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares Global etf have on its future price. IShares Global 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, IShares Global autocorrelation shows the relationship between IShares Global etf current value and its past values and can show if there is a momentum factor associated with investing in iShares Global Healthcare.
Regressed Prices |
| Timeline |
Pair Trading with IShares Global
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 IShares Global 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 IShares Global will appreciate offsetting losses from the drop in the long position's value.Moving together with IShares Etf
Moving against IShares Etf
| 0.88 | XIT | iShares SPTSX Capped | PairCorr |
| 0.86 | TEC | TD Global Technology | PairCorr |
| 0.86 | XIU | iShares SPTSX 60 | PairCorr |
| 0.85 | XIC | iShares Core SPTSX | PairCorr |
| 0.85 | ZCN | BMO SPTSX Capped | PairCorr |
The ability to find closely correlated positions to IShares Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Global 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 IShares Global - 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 iShares Global Healthcare to buy it.
The correlation of IShares Global 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 IShares Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Global Healthcare 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 IShares Global 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.Check out IShares Global Correlation, IShares Global Volatility and IShares Global Alpha and Beta module to complement your research on IShares Global. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
IShares Global technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.