Betapro Crude Oil Etf Market Value
| HOD Etf | CAD 7.02 0.04 0.57% |
| Symbol | BetaPro |
BetaPro Crude '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 BetaPro Crude'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 BetaPro Crude.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in BetaPro Crude on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding BetaPro Crude Oil or generate 0.0% return on investment in BetaPro Crude over 720 days. BetaPro Crude is related to or competes with BetaPro Crude, BetaPro Natural, BetaPro Natural, BetaPro Canadian, and BetaPro Canadian. The investment seeks to replicate two times the inverse of the daily performance, net of expenses, of the NYMEX light sw... More
BetaPro Crude 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 BetaPro Crude'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 BetaPro Crude Oil upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.0 | |||
| Information Ratio | 0.012 | |||
| Maximum Drawdown | 18.82 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 8.21 |
BetaPro Crude Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BetaPro Crude's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BetaPro Crude's standard deviation. In reality, there are many statistical measures that can use BetaPro Crude historical prices to predict the future BetaPro Crude's volatility.| Risk Adjusted Performance | 0.0393 | |||
| Jensen Alpha | 0.1754 | |||
| Total Risk Alpha | (0.48) | |||
| Sortino Ratio | 0.013 | |||
| Treynor Ratio | (2.08) |
BetaPro Crude Oil Backtested Returns
BetaPro Crude Oil secures Sharpe Ratio (or Efficiency) of -0.024, which signifies that the etf had a -0.024% return per unit of risk over the last 3 months. BetaPro Crude Oil exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BetaPro Crude's Downside Deviation of 4.0, risk adjusted performance of 0.0393, and Mean Deviation of 3.34 to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.0798, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning BetaPro Crude are expected to decrease at a much lower rate. During the bear market, BetaPro Crude is likely to outperform the market.
Auto-correlation | 0.16 |
Very weak predictability
BetaPro Crude Oil has very weak predictability. Overlapping area represents the amount of predictability between BetaPro Crude time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 to 3rd 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 BetaPro Crude Oil price movement. The serial correlation of 0.16 indicates that over 16.0% of current BetaPro Crude price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.16 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 0.76 |
BetaPro Crude Oil lagged returns against current returns
Autocorrelation, which is BetaPro Crude 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 BetaPro Crude's etf expected returns. We can calculate the autocorrelation of BetaPro Crude returns to help us make a trade decision. For example, suppose you find that BetaPro Crude 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 |
BetaPro Crude 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 BetaPro Crude etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BetaPro Crude etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BetaPro Crude etf over time.
Current vs Lagged Prices |
| Timeline |
BetaPro Crude Lagged Returns
When evaluating BetaPro Crude's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BetaPro Crude etf have on its future price. BetaPro Crude 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, BetaPro Crude autocorrelation shows the relationship between BetaPro Crude etf current value and its past values and can show if there is a momentum factor associated with investing in BetaPro Crude Oil.
Regressed Prices |
| Timeline |
Pair Trading with BetaPro Crude
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 BetaPro Crude 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 BetaPro Crude will appreciate offsetting losses from the drop in the long position's value.Moving against BetaPro Etf
| 0.85 | HXE | Global X SPTSX | PairCorr |
| 0.77 | HOU | BetaPro Crude Oil | PairCorr |
| 0.57 | HQU | BetaPro NASDAQ 100 | PairCorr |
| 0.54 | HSU | BetaPro SP 500 | PairCorr |
| 0.53 | HXU | BetaPro SP TSX | PairCorr |
The ability to find closely correlated positions to BetaPro Crude could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BetaPro Crude 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 BetaPro Crude - 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 BetaPro Crude Oil to buy it.
The correlation of BetaPro Crude 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 BetaPro Crude moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro Crude Oil 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 BetaPro Crude 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 BetaPro Etf
BetaPro Crude financial ratios help investors to determine whether BetaPro 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 BetaPro with respect to the benefits of owning BetaPro Crude security.