Forstrong Global Income Etf Market Value
| FINC Etf | 21.62 0.09 0.41% |
| Symbol | Forstrong |
Forstrong Global '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 Forstrong Global'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 Forstrong Global.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Forstrong Global on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Forstrong Global Income or generate 0.0% return on investment in Forstrong Global over 180 days.
Forstrong Global 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 Forstrong Global'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 Forstrong Global Income upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.43) | |||
| Maximum Drawdown | 2.23 | |||
| Potential Upside | 0.3705 |
Forstrong Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Forstrong Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Forstrong Global's standard deviation. In reality, there are many statistical measures that can use Forstrong Global historical prices to predict the future Forstrong Global's volatility.| Risk Adjusted Performance | 0.0567 | |||
| Jensen Alpha | 0.0124 | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | 0.6043 |
Forstrong Global Income Backtested Returns
As of now, Forstrong Etf is very steady. Forstrong Global Income secures Sharpe Ratio (or Efficiency) of 0.1, which denotes the etf had a 0.1% return per unit of risk over the last 3 months. We have found twenty technical indicators for Forstrong Global Income, which you can use to evaluate the volatility of the entity. Please confirm Forstrong Global's Variance of 0.0667, standard deviation of 0.2582, and Mean Deviation of 0.108 to check if the risk estimate we provide is consistent with the expected return of 0.027%. The etf shows a Beta (market volatility) of 0.0261, which means not very significant fluctuations relative to the market. As returns on the market increase, Forstrong Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding Forstrong Global is expected to be smaller as well.
Auto-correlation | 0.26 |
Poor predictability
Forstrong Global Income has poor predictability. Overlapping area represents the amount of predictability between Forstrong Global time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 2024 to 1st of December 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 Forstrong Global Income price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Forstrong Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Forstrong Global Income lagged returns against current returns
Autocorrelation, which is Forstrong Global 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 Forstrong Global's etf expected returns. We can calculate the autocorrelation of Forstrong Global returns to help us make a trade decision. For example, suppose you find that Forstrong Global 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 |
Forstrong Global 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 Forstrong Global etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Forstrong Global etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Forstrong Global etf over time.
Current vs Lagged Prices |
| Timeline |
Forstrong Global Lagged Returns
When evaluating Forstrong Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Forstrong Global etf have on its future price. Forstrong Global 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, Forstrong Global autocorrelation shows the relationship between Forstrong Global etf current value and its past values and can show if there is a momentum factor associated with investing in Forstrong Global Income.
Regressed Prices |
| Timeline |
Pair Trading with Forstrong Global
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Forstrong Global position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Forstrong Global will appreciate offsetting losses from the drop in the long position's value.Moving together with Forstrong Etf
Moving against Forstrong Etf
The ability to find closely correlated positions to Forstrong Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Forstrong Global when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Forstrong Global - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Forstrong Global Income to buy it.
The correlation of Forstrong Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Forstrong Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Forstrong Global Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Forstrong Global can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.