Bmo Mid Federal Etf Market Value
| ZFM Etf | CAD 14.61 0.05 0.34% |
| Symbol | BMO |
BMO Mid '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 Mid'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 Mid.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in BMO Mid on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding BMO Mid Federal or generate 0.0% return on investment in BMO Mid over 30 days. BMO Mid is related to or competes with Mackenzie Core, Mackenzie Unconstrained, Mackenzie Floating, and Mackenzie Canadian. BMO Mid Federal Bond Index ETF seeks to replicate, to the extent possible, the performance of a midterm federal bond ind... More
BMO Mid 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 Mid'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 Mid Federal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.43) | |||
| Maximum Drawdown | 1.36 | |||
| Value At Risk | (0.54) | |||
| Potential Upside | 0.6073 |
BMO Mid Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Mid's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Mid's standard deviation. In reality, there are many statistical measures that can use BMO Mid historical prices to predict the future BMO Mid's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | 0.8709 |
BMO Mid Federal Backtested Returns
BMO Mid Federal secures Sharpe Ratio (or Efficiency) of -0.0113, which signifies that the etf had a -0.0113% return per unit of risk over the last 3 months. BMO Mid Federal exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BMO Mid's mean deviation of 0.2665, and Risk Adjusted Performance of (0.04) to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.0275, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning BMO Mid are expected to decrease at a much lower rate. During the bear market, BMO Mid is likely to outperform the market.
Auto-correlation | 0.49 |
Average predictability
BMO Mid Federal has average predictability. Overlapping area represents the amount of predictability between BMO Mid time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Mid Federal price movement. The serial correlation of 0.49 indicates that about 49.0% of current BMO Mid price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.49 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
BMO Mid Federal lagged returns against current returns
Autocorrelation, which is BMO Mid 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 Mid's etf expected returns. We can calculate the autocorrelation of BMO Mid returns to help us make a trade decision. For example, suppose you find that BMO Mid 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 Mid 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 Mid etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Mid etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Mid etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Mid Lagged Returns
When evaluating BMO Mid's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Mid etf have on its future price. BMO Mid 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 Mid autocorrelation shows the relationship between BMO Mid etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Mid Federal.
Regressed Prices |
| Timeline |
Pair Trading with BMO Mid
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 Mid 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 Mid will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
| 0.89 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.88 | XBB | iShares Canadian Universe | PairCorr |
| 0.8 | ZCPB | BMO Core Plus | PairCorr |
| 0.91 | ZDB | BMO Discount Bond | PairCorr |
| 0.95 | XGB | iShares Canadian Gov | PairCorr |
Moving against BMO Etf
| 0.72 | ZSP | BMO SP 500 | PairCorr |
| 0.72 | VFV | Vanguard SP 500 | PairCorr |
| 0.67 | XIC | iShares Core SPTSX | PairCorr |
| 0.67 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.66 | XIU | iShares SPTSX 60 | PairCorr |
The ability to find closely correlated positions to BMO Mid 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 Mid 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 Mid - 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 Mid Federal to buy it.
The correlation of BMO Mid 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 Mid moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Mid 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 Mid 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 Mid 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 Mid security.