Nbi Canadian Dividend Etf Market Value
| NDIV Etf | CAD 34.55 0.05 0.14% |
| Symbol | NBI |
NBI Canadian '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 NBI Canadian'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 NBI Canadian.
| 12/22/2022 |
| 12/11/2024 |
If you would invest 0.00 in NBI Canadian on December 22, 2022 and sell it all today you would earn a total of 0.00 from holding NBI Canadian Dividend or generate 0.0% return on investment in NBI Canadian over 720 days. NBI Canadian is related to or competes with NBI High, NBI Unconstrained, NBI Global, NBI Active, NBI Sustainable, NBI Sustainable, and NBI Canadian. NBI CANADIAN is traded on Toronto Stock Exchange in Canada. More
NBI Canadian 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 NBI Canadian'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 NBI Canadian Dividend upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0501 | |||
| Maximum Drawdown | 2.48 | |||
| Potential Upside | 0.8772 |
NBI Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NBI Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NBI Canadian's standard deviation. In reality, there are many statistical measures that can use NBI Canadian historical prices to predict the future NBI Canadian's volatility.| Risk Adjusted Performance | 0.2552 | |||
| Total Risk Alpha | 0.0716 |
NBI Canadian Dividend Backtested Returns
As of now, NBI Etf is out of control. NBI Canadian Dividend has Sharpe Ratio of 0.37, which conveys that the etf had a 0.37% return per unit of volatility over the last 3 months. We have found seventeen technical indicators for NBI Canadian, which you can use to evaluate the volatility of the entity. Please verify NBI Canadian's Variance of 0.1565, mean deviation of 0.223, and Coefficient Of Variation of 274.19 to check out if the risk estimate we provide is consistent with the expected return of 0.15%. The entity secures a Beta (Market Risk) of 0.0, which conveys not very significant fluctuations relative to the market. the returns on MARKET and NBI Canadian are completely uncorrelated.
Auto-correlation | 0.69 |
Good predictability
NBI Canadian Dividend has good predictability. Overlapping area represents the amount of predictability between NBI Canadian time series from 22nd of December 2022 to 17th of December 2023 and 17th of December 2023 to 11th 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 NBI Canadian Dividend price movement. The serial correlation of 0.69 indicates that around 69.0% of current NBI Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 5.08 |
NBI Canadian Dividend lagged returns against current returns
Autocorrelation, which is NBI Canadian 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 NBI Canadian's etf expected returns. We can calculate the autocorrelation of NBI Canadian returns to help us make a trade decision. For example, suppose you find that NBI Canadian 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 |
NBI Canadian 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 NBI Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NBI Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NBI Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
NBI Canadian Lagged Returns
When evaluating NBI Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NBI Canadian etf have on its future price. NBI Canadian 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, NBI Canadian autocorrelation shows the relationship between NBI Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in NBI Canadian Dividend.
Regressed Prices |
| Timeline |
Pair Trading with NBI Canadian
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 NBI Canadian 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 NBI Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with NBI Etf
| 0.89 | ZWC | BMO Canadian High | PairCorr |
| 0.92 | XDV | iShares Canadian Select | PairCorr |
| 0.92 | PDC | Invesco Canadian Dividend | PairCorr |
| 0.9 | XEI | iShares SPTSX Composite | PairCorr |
| 0.91 | VDY | Vanguard FTSE Canadian | PairCorr |
The ability to find closely correlated positions to NBI Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NBI Canadian 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 NBI Canadian - 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 NBI Canadian Dividend to buy it.
The correlation of NBI Canadian 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 NBI Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NBI Canadian Dividend 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 NBI Canadian 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 NBI Etf
NBI Canadian financial ratios help investors to determine whether NBI 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 NBI with respect to the benefits of owning NBI Canadian security.