Hamilton Australian Bank Etf Market Value
| HBA Etf | CAD 29.60 0.11 0.37% |
| Symbol | Hamilton |
Hamilton Australian '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 Hamilton Australian'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 Hamilton Australian.
| 09/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Hamilton Australian on September 30, 2024 and sell it all today you would earn a total of 0.00 from holding Hamilton Australian Bank or generate 0.0% return on investment in Hamilton Australian over 60 days. Hamilton Australian is related to or competes with Hamilton Canadian, Hamilton Global, Hamilton Enhanced, and Hamilton Enhanced. HAMILTON AUSTRALIAN is traded on Toronto Stock Exchange in Canada. More
Hamilton Australian 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 Hamilton Australian'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 Hamilton Australian Bank upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.13 | |||
| Information Ratio | 0.0266 | |||
| Maximum Drawdown | 5.83 | |||
| Value At Risk | (1.38) | |||
| Potential Upside | 1.57 |
Hamilton Australian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hamilton Australian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hamilton Australian's standard deviation. In reality, there are many statistical measures that can use Hamilton Australian historical prices to predict the future Hamilton Australian's volatility.| Risk Adjusted Performance | 0.1203 | |||
| Jensen Alpha | 0.1187 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.0231 | |||
| Treynor Ratio | 0.7165 |
Hamilton Australian Bank Backtested Returns
As of now, Hamilton Etf is very steady. Hamilton Australian Bank holds Efficiency (Sharpe) Ratio of 0.11, which attests that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hamilton Australian Bank, which you can use to evaluate the volatility of the entity. Please check out Hamilton Australian's Market Risk Adjusted Performance of 0.7265, risk adjusted performance of 0.1203, and Downside Deviation of 1.13 to validate if the risk estimate we provide is consistent with the expected return of 0.11%. The etf retains a Market Volatility (i.e., Beta) of 0.2, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hamilton Australian's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hamilton Australian is expected to be smaller as well.
Auto-correlation | 0.91 |
Excellent predictability
Hamilton Australian Bank has excellent predictability. Overlapping area represents the amount of predictability between Hamilton Australian time series from 30th of September 2024 to 30th of October 2024 and 30th of October 2024 to 29th of November 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 Hamilton Australian Bank price movement. The serial correlation of 0.91 indicates that approximately 91.0% of current Hamilton Australian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.91 | |
| Spearman Rank Test | 0.83 | |
| Residual Average | 0.0 | |
| Price Variance | 0.44 |
Hamilton Australian Bank lagged returns against current returns
Autocorrelation, which is Hamilton Australian 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 Hamilton Australian's etf expected returns. We can calculate the autocorrelation of Hamilton Australian returns to help us make a trade decision. For example, suppose you find that Hamilton Australian 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 |
Hamilton Australian 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 Hamilton Australian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hamilton Australian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hamilton Australian etf over time.
Current vs Lagged Prices |
| Timeline |
Hamilton Australian Lagged Returns
When evaluating Hamilton Australian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hamilton Australian etf have on its future price. Hamilton Australian 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, Hamilton Australian autocorrelation shows the relationship between Hamilton Australian etf current value and its past values and can show if there is a momentum factor associated with investing in Hamilton Australian Bank.
Regressed Prices |
| Timeline |
Pair Trading with Hamilton Australian
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 Hamilton Australian 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 Hamilton Australian will appreciate offsetting losses from the drop in the long position's value.Moving together with Hamilton Etf
| 0.75 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.73 | XFN | iShares SPTSX Capped | PairCorr |
| 0.77 | ZBK | BMO Equal Weight | PairCorr |
| 0.69 | HCA | Hamilton Canadian Bank | PairCorr |
| 0.76 | ZUB | BMO Equal Weight | PairCorr |
Moving against Hamilton Etf
The ability to find closely correlated positions to Hamilton Australian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hamilton Australian 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 Hamilton Australian - 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 Hamilton Australian Bank to buy it.
The correlation of Hamilton Australian 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 Hamilton Australian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Australian Bank 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 Hamilton Australian 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.Other Information on Investing in Hamilton Etf
Hamilton Australian financial ratios help investors to determine whether Hamilton Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Hamilton with respect to the benefits of owning Hamilton Australian security.