First Asset Morningstar Etf Market Value
| ZXM Etf | CAD 42.42 0.24 0.57% |
| Symbol | First |
First Asset '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 First Asset'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 First Asset.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in First Asset on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding First Asset Morningstar or generate 0.0% return on investment in First Asset over 30 days. First Asset is related to or competes with First Asset, First Asset, and First Asset. The ETF has been designed to replicate, to the extent possible, the performance of the Morningstar Developed Markets ex-... More
First Asset 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 First Asset'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 First Asset Morningstar upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8166 | |||
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 3.93 | |||
| Value At Risk | (1.28) | |||
| Potential Upside | 1.44 |
First Asset Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for First Asset's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as First Asset's standard deviation. In reality, there are many statistical measures that can use First Asset historical prices to predict the future First Asset's volatility.| Risk Adjusted Performance | 0.0473 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.11) | |||
| Treynor Ratio | 0.0975 |
First Asset Morningstar Backtested Returns
As of now, First Etf is very steady. First Asset Morningstar secures Sharpe Ratio (or Efficiency) of 0.0518, which denotes the etf had a 0.0518% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for First Asset Morningstar, which you can use to evaluate the volatility of the entity. Please confirm First Asset's Coefficient Of Variation of 1625.89, downside deviation of 0.8166, and Mean Deviation of 0.5731 to check if the risk estimate we provide is consistent with the expected return of 0.0411%. The etf shows a Beta (market volatility) of 0.39, which means possible diversification benefits within a given portfolio. As returns on the market increase, First Asset's returns are expected to increase less than the market. However, during the bear market, the loss of holding First Asset is expected to be smaller as well.
Auto-correlation | 0.62 |
Good predictability
First Asset Morningstar has good predictability. Overlapping area represents the amount of predictability between First Asset time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 First Asset Morningstar price movement. The serial correlation of 0.62 indicates that roughly 62.0% of current First Asset price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.62 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
First Asset Morningstar lagged returns against current returns
Autocorrelation, which is First Asset 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 First Asset's etf expected returns. We can calculate the autocorrelation of First Asset returns to help us make a trade decision. For example, suppose you find that First Asset 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 |
First Asset 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 First Asset etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if First Asset etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in First Asset etf over time.
Current vs Lagged Prices |
| Timeline |
First Asset Lagged Returns
When evaluating First Asset's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of First Asset etf have on its future price. First Asset 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, First Asset autocorrelation shows the relationship between First Asset etf current value and its past values and can show if there is a momentum factor associated with investing in First Asset Morningstar.
Regressed Prices |
| Timeline |
Other Information on Investing in First Etf
First Asset financial ratios help investors to determine whether First 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 First with respect to the benefits of owning First Asset security.