Bmo Long Federal Etf Market Value
| ZFL Etf | CAD 12.83 0.10 0.79% |
| Symbol | BMO |
BMO Long '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 BMO Long'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 BMO Long.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in BMO Long on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding BMO Long Federal or generate 0.0% return on investment in BMO Long over 720 days. BMO Long is related to or competes with IShares MSCI, IShares MSCI, IShares Core, Vanguard Total, and IShares Core. BMO Long Federal Bond Index ETF seeks to replicate, to the extent possible, the performance of a long term federal bond ... More
BMO Long 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 BMO Long'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 BMO Long Federal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.28) | |||
| Maximum Drawdown | 3.27 | |||
| Value At Risk | (1.06) | |||
| Potential Upside | 1.28 |
BMO Long Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Long's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Long's standard deviation. In reality, there are many statistical measures that can use BMO Long historical prices to predict the future BMO Long's volatility.| Risk Adjusted Performance | (0.1) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.20) | |||
| Treynor Ratio | 0.5763 |
BMO Long Federal Backtested Returns
BMO Long Federal secures Sharpe Ratio (or Efficiency) of -0.11, which signifies that the etf had a -0.11% return per unit of risk over the last 3 months. BMO Long Federal exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BMO Long's mean deviation of 0.5643, and Risk Adjusted Performance of (0.1) to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.18, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning BMO Long are expected to decrease at a much lower rate. During the bear market, BMO Long is likely to outperform the market.
Auto-correlation | -0.6 |
Good reverse predictability
BMO Long Federal has good reverse predictability. Overlapping area represents the amount of predictability between BMO Long time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 to 22nd 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 BMO Long Federal price movement. The serial correlation of -0.6 indicates that roughly 60.0% of current BMO Long price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.6 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
BMO Long Federal lagged returns against current returns
Autocorrelation, which is BMO Long 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 BMO Long's etf expected returns. We can calculate the autocorrelation of BMO Long returns to help us make a trade decision. For example, suppose you find that BMO Long 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 |
BMO Long 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 BMO Long etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Long etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Long etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Long Lagged Returns
When evaluating BMO Long's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Long etf have on its future price. BMO Long 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, BMO Long autocorrelation shows the relationship between BMO Long etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Long Federal.
Regressed Prices |
| Timeline |
Pair Trading with BMO Long
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 BMO Long 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 BMO Long will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
| 0.96 | XLB | iShares Core Canadian | PairCorr |
| 0.95 | ZPL | BMO Long Provincial | PairCorr |
| 0.96 | VLB | Vanguard Canadian Long | PairCorr |
Moving against BMO Etf
| 0.85 | ENCC | Global X Canadian | PairCorr |
| 0.85 | ZEO | BMO Equal Weight | PairCorr |
| 0.73 | JAPN | CI WisdomTree Japan | PairCorr |
| 0.68 | CYBR-B | Evolve Cyber Security | PairCorr |
| 0.66 | HXE | Global X SPTSX | PairCorr |
The ability to find closely correlated positions to BMO Long could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BMO Long 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 BMO Long - 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 BMO Long Federal to buy it.
The correlation of BMO Long 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 BMO Long moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Long Federal 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 BMO Long 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 BMO Etf
BMO Long financial ratios help investors to determine whether BMO 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 BMO with respect to the benefits of owning BMO Long security.