Fidelity Canada Fund Market Value
| FTCNX Fund | USD 64.81 0.23 0.35% |
| Symbol | Fidelity |
Fidelity Canada '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 Fidelity Canada's mutual fund 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 Fidelity Canada.
| 03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in Fidelity Canada on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Canada Fund or generate 0.0% return on investment in Fidelity Canada over 30 days. Fidelity Canada is related to or competes with Fidelity Freedom, Fidelity Puritan, Fidelity Puritan, Fidelity Pennsylvania, Fidelity Freedom, Fidelity Freedom, and Fidelity Salem. The fund normally invests at least 80 percent of assets in securities of Canadian issuers and other investments that are... More
Fidelity Canada 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 Fidelity Canada's mutual fund 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 Fidelity Canada Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8733 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 3.84 | |||
| Value At Risk | (1.24) | |||
| Potential Upside | 1.25 |
Fidelity Canada Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Canada's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Canada's standard deviation. In reality, there are many statistical measures that can use Fidelity Canada historical prices to predict the future Fidelity Canada's volatility.| Risk Adjusted Performance | 0.031 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0241 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity Canada'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.
Fidelity Canada Backtested Returns
We consider Fidelity Canada very steady. Fidelity Canada secures Sharpe Ratio (or Efficiency) of 0.063, which denotes the fund had a 0.063% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Fidelity Canada Fund, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Canada's Downside Deviation of 0.8733, coefficient of variation of 2216.34, and Mean Deviation of 0.6362 to check if the risk estimate we provide is consistent with the expected return of 0.0527%. The fund shows a Beta (market volatility) of 1.16, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Fidelity Canada will likely underperform.
Auto-correlation | -0.35 |
Poor reverse predictability
Fidelity Canada Fund has poor reverse predictability. Overlapping area represents the amount of predictability between Fidelity Canada time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th 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 Fidelity Canada price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Fidelity Canada price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.78 |
Fidelity Canada lagged returns against current returns
Autocorrelation, which is Fidelity Canada mutual fund'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 Fidelity Canada's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Canada returns to help us make a trade decision. For example, suppose you find that Fidelity Canada has exhibited high autocorrelation historically, and you observe that the mutual fund 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 |
Fidelity Canada 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 Fidelity Canada mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Canada mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Canada mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Canada Lagged Returns
When evaluating Fidelity Canada's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Canada mutual fund have on its future price. Fidelity Canada 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, Fidelity Canada autocorrelation shows the relationship between Fidelity Canada mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Canada Fund.
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 Fidelity Canada 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, Fidelity Canada's short interest history, or implied volatility extrapolated from Fidelity Canada options trading.
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Fidelity Canada technical mutual fund 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, fund market cycles, or different charting patterns.