Harvest Tech Achievers Etf Market Value
| HTAE Etf | 17.67 0.29 1.61% |
| Symbol | Harvest |
Harvest Tech '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 Harvest Tech'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 Harvest Tech.
| 11/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Harvest Tech on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding Harvest Tech Achievers or generate 0.0% return on investment in Harvest Tech over 390 days. Harvest Tech is related to or competes with Brompton Enhanced, Harvest Healthcare, Hamilton Canadian, and Harvest Diversified. Harvest Tech is entity of Canada. It is traded as Etf on TO exchange. More
Harvest Tech 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 Harvest Tech'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 Harvest Tech Achievers upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.42 | |||
| Information Ratio | 0.0417 | |||
| Maximum Drawdown | 6.89 | |||
| Value At Risk | (1.66) | |||
| Potential Upside | 2.28 |
Harvest Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harvest Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harvest Tech's standard deviation. In reality, there are many statistical measures that can use Harvest Tech historical prices to predict the future Harvest Tech's volatility.| Risk Adjusted Performance | 0.0966 | |||
| Jensen Alpha | 0.0744 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | 0.0387 | |||
| Treynor Ratio | 0.1939 |
Harvest Tech Achievers Backtested Returns
As of now, Harvest Etf is very steady. Harvest Tech Achievers 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 Harvest Tech Achievers, which you can use to evaluate the volatility of the entity. Please check out Harvest Tech's Downside Deviation of 1.42, risk adjusted performance of 0.0966, and Market Risk Adjusted Performance of 0.2039 to validate if the risk estimate we provide is consistent with the expected return of 0.15%. The etf retains a Market Volatility (i.e., Beta) of 0.81, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Harvest Tech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Harvest Tech is expected to be smaller as well.
Auto-correlation | 0.31 |
Below average predictability
Harvest Tech Achievers has below average predictability. Overlapping area represents the amount of predictability between Harvest Tech time series from 19th of November 2023 to 1st of June 2024 and 1st of June 2024 to 13th 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 Harvest Tech Achievers price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Harvest Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.67 |
Harvest Tech Achievers lagged returns against current returns
Autocorrelation, which is Harvest Tech 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 Harvest Tech's etf expected returns. We can calculate the autocorrelation of Harvest Tech returns to help us make a trade decision. For example, suppose you find that Harvest Tech 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 |
Harvest Tech 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 Harvest Tech etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harvest Tech etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harvest Tech etf over time.
Current vs Lagged Prices |
| Timeline |
Harvest Tech Lagged Returns
When evaluating Harvest Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harvest Tech etf have on its future price. Harvest Tech 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, Harvest Tech autocorrelation shows the relationship between Harvest Tech etf current value and its past values and can show if there is a momentum factor associated with investing in Harvest Tech Achievers.
Regressed Prices |
| Timeline |
Pair Trading with Harvest Tech
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 Harvest Tech 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 Harvest Tech will appreciate offsetting losses from the drop in the long position's value.Moving together with Harvest Etf
| 0.84 | HCAL | Hamilton Enhanced | PairCorr |
| 0.87 | PFLS | Picton Mahoney Fortified | PairCorr |
| 0.76 | HAC | Global X Seasonal | PairCorr |
| 0.68 | ARB | Accelerate Arbitrage | PairCorr |
| 0.84 | PHE | Purpose Tactical Hedged | PairCorr |
Moving against Harvest Etf
| 0.96 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.95 | HIU | BetaPro SP 500 | PairCorr |
| 0.88 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.63 | HED | BetaPro SPTSX Capped | PairCorr |
The ability to find closely correlated positions to Harvest Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harvest Tech 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 Harvest Tech - 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 Harvest Tech Achievers to buy it.
The correlation of Harvest Tech 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 Harvest Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Tech Achievers 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 Harvest Tech 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 Harvest Etf
Harvest Tech financial ratios help investors to determine whether Harvest 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 Harvest with respect to the benefits of owning Harvest Tech security.