Hamilton Enhanced Canadian Etf Market Value
| HCAL Etf | CAD 25.41 0.06 0.24% |
| Symbol | Hamilton |
Hamilton Enhanced '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 Enhanced'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 Enhanced.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Hamilton Enhanced on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Hamilton Enhanced Canadian or generate 0.0% return on investment in Hamilton Enhanced over 540 days. Hamilton Enhanced is related to or competes with IShares Canadian, PHN Multi, Altagas Cum, EcoSynthetix, and European Residential. HAMILTON ENHANCED is traded on Toronto Stock Exchange in Canada. More
Hamilton Enhanced 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 Enhanced'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 Enhanced Canadian upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4715 | |||
| Information Ratio | 0.2368 | |||
| Maximum Drawdown | 3.16 | |||
| Value At Risk | (0.55) | |||
| Potential Upside | 1.29 |
Hamilton Enhanced Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hamilton Enhanced's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hamilton Enhanced's standard deviation. In reality, there are many statistical measures that can use Hamilton Enhanced historical prices to predict the future Hamilton Enhanced's volatility.| Risk Adjusted Performance | 0.3404 | |||
| Jensen Alpha | 0.227 | |||
| Total Risk Alpha | 0.1665 | |||
| Sortino Ratio | 0.298 | |||
| Treynor Ratio | 1.02 |
Hamilton Enhanced Backtested Returns
Hamilton Enhanced appears to be very steady, given 3 months investment horizon. Hamilton Enhanced holds Efficiency (Sharpe) Ratio of 0.39, which attests that the entity had a 0.39% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Hamilton Enhanced, which you can use to evaluate the volatility of the entity. Please utilize Hamilton Enhanced's Risk Adjusted Performance of 0.3404, market risk adjusted performance of 1.03, and Coefficient Of Variation of 223.19 to validate if our risk estimates are consistent with your expectations. The etf retains a Market Volatility (i.e., Beta) of 0.25, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hamilton Enhanced's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hamilton Enhanced is expected to be smaller as well.
Auto-correlation | 0.72 |
Good predictability
Hamilton Enhanced Canadian has good predictability. Overlapping area represents the amount of predictability between Hamilton Enhanced time series from 8th of June 2023 to 4th of March 2024 and 4th of March 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 Enhanced price movement. The serial correlation of 0.72 indicates that around 72.0% of current Hamilton Enhanced price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 3.27 |
Hamilton Enhanced lagged returns against current returns
Autocorrelation, which is Hamilton Enhanced 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 Enhanced's etf expected returns. We can calculate the autocorrelation of Hamilton Enhanced returns to help us make a trade decision. For example, suppose you find that Hamilton Enhanced 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 Enhanced 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 Enhanced etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hamilton Enhanced etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hamilton Enhanced etf over time.
Current vs Lagged Prices |
| Timeline |
Hamilton Enhanced Lagged Returns
When evaluating Hamilton Enhanced's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hamilton Enhanced etf have on its future price. Hamilton Enhanced 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 Enhanced autocorrelation shows the relationship between Hamilton Enhanced etf current value and its past values and can show if there is a momentum factor associated with investing in Hamilton Enhanced Canadian.
Regressed Prices |
| Timeline |
Pair Trading with Hamilton Enhanced
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 Enhanced 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 Enhanced will appreciate offsetting losses from the drop in the long position's value.Moving together with Hamilton Etf
| 0.92 | PFLS | Picton Mahoney Fortified | PairCorr |
| 0.78 | HAC | Global X Seasonal | PairCorr |
| 0.68 | ARB | Accelerate Arbitrage | PairCorr |
| 0.85 | PHE | Purpose Tactical Hedged | PairCorr |
Moving against Hamilton Etf
| 0.94 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.88 | HIU | BetaPro SP 500 | PairCorr |
| 0.86 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.32 | HUN | Global X Natural | PairCorr |
The ability to find closely correlated positions to Hamilton Enhanced 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 Enhanced 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 Enhanced - 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 Enhanced Canadian to buy it.
The correlation of Hamilton Enhanced 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 Enhanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Enhanced 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 Enhanced 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 Enhanced 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 Enhanced security.