Questrade Russell Risk Analysis

Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD -- Canada ETF  

CAD 30.07  0.00  0.00%

We consider Questrade Russell unknown risk. Questrade Russell 1000 maintains Sharpe Ratio (i.e. Efficiency) of 0.3808 which implies Questrade Russell 1000 had 0.3808% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of a etf is to use all available market data together with company specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for Questrade Russell 1000 which you can use to evaluate future volatility of the etf. Please check Questrade Russell 1000 Coefficient Of Variation of 423.54 and Risk Adjusted Performance of 0.1162 to confirm if risk estimate we provide are consistent with the epected return of 0.1813%.
Investment Horizon     30 Days    Login   to change

Questrade Russell Market Sensitivity

As returns on market increase, returns on owning Questrade Russell are expected to decrease at a much smaller rate. During bear market, Questrade Russell is likely to outperform the market.
One Month Beta |Analyze Questrade Russell 1000 Demand Trend
Check current 30 days Questrade Russell correlation with market (DOW)
β = -0.5802
Questrade Russell Almost negative betaQuestrade Russell 1000 Beta Legend

Questrade Russell 1000 Technical Analysis

Transformation
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Projected Return Density Against Market

Assuming 30 trading days horizon, Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD has beta of -0.5802 . This implies as returns on benchmark increase, returns on holding Questrade Russell are expected to decrease at a much smaller rate. During bear market, however, Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD is likely to outperform the market. Moreover, Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD has an alpha of 0.327 implying that it can potentially generate 0.327% excess return over DOW after adjusting for the inherited market risk (beta).
 Predicted Return Density 
      Returns 
Assuming 30 trading days horizon, the coefficient of variation of Questrade Russell is 262.58. The daily returns are destributed with a variance of 0.23 and standard deviation of 0.48. The mean deviation of Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD is currently at 0.27. For similar time horizon, the selected benchmark (DOW) has volatility of 0.47
α
Alpha over DOW
=0.33
βBeta against DOW=0.58
σ
Overall volatility
=0.48
 IrInformation ratio =0.09

Actual Return Volatility

Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD assumes 0.4761% volatility of returns over the 30 days investment horizon. DOW inherits 0.4491% risk (volatility on return distribution) over the 30 days horizon.
 Performance (%) 
      Timeline 

Market Risk Breakdown

Questrade Russell Volatility Factors

30 Days Market Risk

Unknown risk

Chance of Distress in 24 months

Unknown Distress

30 Days Economic Sensitivity

Unaffected

Largest Trends

Questrade Russell Largest Period Trend

Investment Outlook

Questrade Russell Investment Opportunity
Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD has a volatility of 0.48 and is 1.07 times more volatile than DOW. 4% of all equities and portfolios are less risky than Questrade Russell. Compared to the overall equity markets, volatility of historical daily returns of Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD is lower than 4 (%) of all global equities and portfolios over the last 30 days. Use Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD to protect against small markets fluctuations. The etf experiences normal downward trend, but the immediate impact on correlations cannot be determined at the moment . Check odds of Questrade Russell to be traded at C$29.77 in 30 days. As returns on market increase, returns on owning Questrade Russell are expected to decrease at a much smaller rate. During bear market, Questrade Russell is likely to outperform the market.

Questrade Russell correlation with market

Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Questrade Russell 1000 Equal W and equity matching DJI index in the same portfolio.

Volatility Indicators

Questrade Russell Current Risk Indicators