Fidelity Canada Fund Market Value
| FTCNX Fund | USD 66.34 0.16 0.24% |
| 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.
| 04/01/2024 |
| 05/01/2024 |
If you would invest 0.00 in Fidelity Canada on April 1, 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 Latin, Fidelity Emerging, Fidelity Emerging, Fidelity China, and Fidelity Leveraged. 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 | 0.8965 | |||
| Information Ratio | 0.0032 | |||
| Maximum Drawdown | 3.8 | |||
| 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 | 0.0505 | |||
| Jensen Alpha | 0.0486 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.0029 | |||
| Treynor Ratio | 0.7553 |
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 0.0633, which denotes the fund had a 0.0633% 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 Mean Deviation of 0.6073, downside deviation of 0.8965, and Coefficient Of Variation of 1326.85 to check if the risk estimate we provide is consistent with the expected return of 0.052%. The fund shows a Beta (market volatility) of 0.0689, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity Canada's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Canada is expected to be smaller as well.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Fidelity Canada Fund has insignificant reverse predictability. Overlapping area represents the amount of predictability between Fidelity Canada time series from 1st of April 2024 to 16th of April 2024 and 16th of April 2024 to 1st of May 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 -0.19 indicates that over 19.0% of current Fidelity Canada price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.27 |
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 |
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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.