Bmo Canadian Dividend Etf Market Value
| ZDV Etf | CAD 19.91 0.07 0.35% |
| Symbol | BMO |
BMO Canadian '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 Canadian'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 Canadian.
| 05/01/2023 |
| 04/25/2024 |
If you would invest 0.00 in BMO Canadian on May 1, 2023 and sell it all today you would earn a total of 0.00 from holding BMO Canadian Dividend or generate 0.0% return on investment in BMO Canadian over 360 days. BMO Canadian is related to or competes with RBC Quant, RBC Quant, and RBC Canadian. BMO Canadian Dividend ETF seeks to provide exposure to the performance of a yield weighted portfolio of Canadian dividen... More
BMO Canadian 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 Canadian'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 Canadian Dividend upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6552 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 2.73 | |||
| Value At Risk | (0.83) | |||
| Potential Upside | 0.7553 |
BMO Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Canadian's standard deviation. In reality, there are many statistical measures that can use BMO Canadian historical prices to predict the future BMO Canadian's volatility.| Risk Adjusted Performance | 0.0617 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.0643 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of BMO Canadian's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
BMO Canadian Dividend Backtested Returns
We consider BMO Canadian very steady. BMO Canadian Dividend secures Sharpe Ratio (or Efficiency) of 0.074, which signifies that the etf had a 0.074% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for BMO Canadian Dividend, which you can use to evaluate the volatility of the entity. Please confirm BMO Canadian's mean deviation of 0.4201, and Risk Adjusted Performance of 0.0617 to double-check if the risk estimate we provide is consistent with the expected return of 0.0427%. The etf shows a Beta (market volatility) of 0.72, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, BMO Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO Canadian is expected to be smaller as well.
Auto-correlation | -0.64 |
Very good reverse predictability
BMO Canadian Dividend has very good reverse predictability. Overlapping area represents the amount of predictability between BMO Canadian time series from 1st of May 2023 to 28th of October 2023 and 28th of October 2023 to 25th of April 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 Canadian Dividend price movement. The serial correlation of -0.64 indicates that roughly 64.0% of current BMO Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.64 | |
| Spearman Rank Test | -0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 0.48 |
BMO Canadian Dividend lagged returns against current returns
Autocorrelation, which is BMO Canadian 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 Canadian's etf expected returns. We can calculate the autocorrelation of BMO Canadian returns to help us make a trade decision. For example, suppose you find that BMO Canadian 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 Canadian 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 Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Canadian Lagged Returns
When evaluating BMO Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Canadian etf have on its future price. BMO Canadian 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 Canadian autocorrelation shows the relationship between BMO Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Canadian Dividend.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards BMO Canadian in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, BMO Canadian's short interest history, or implied volatility extrapolated from BMO Canadian options trading.
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Check out BMO Canadian Correlation, BMO Canadian Volatility and BMO Canadian Alpha and Beta module to complement your research on BMO Canadian. You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
BMO Canadian 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.