Mackenzie High Yield Etf Market Value
| QHY Etf | CAD 84.39 0.36 0.43% |
| Symbol | Mackenzie |
Mackenzie High '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 Mackenzie High'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 Mackenzie High.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Mackenzie High on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Mackenzie High Yield or generate 0.0% return on investment in Mackenzie High over 720 days. Mackenzie High is related to or competes with Mackenzie Developed, Mackenzie Global, Mackenzie Aggregate, Mackenzie Core, and Mackenzie Emerging. Mackenzie US High Yield Bond Index ETF seeks to replicate, to the extent reasonably possible and before fees and expense... More
Mackenzie High 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 Mackenzie High'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 Mackenzie High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3791 | |||
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 2.79 | |||
| Value At Risk | (0.42) | |||
| Potential Upside | 0.5861 |
Mackenzie High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mackenzie High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mackenzie High's standard deviation. In reality, there are many statistical measures that can use Mackenzie High historical prices to predict the future Mackenzie High's volatility.| Risk Adjusted Performance | 0.0568 | |||
| Jensen Alpha | 0.0158 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.27) | |||
| Treynor Ratio | 0.3873 |
Mackenzie High Yield Backtested Returns
As of now, Mackenzie Etf is very steady. Mackenzie High Yield has Sharpe Ratio of 0.0953, which conveys that the entity had a 0.0953% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Mackenzie High, which you can use to evaluate the volatility of the etf. Please verify Mackenzie High's Mean Deviation of 0.2627, risk adjusted performance of 0.0568, and Downside Deviation of 0.3791 to check out if the risk estimate we provide is consistent with the expected return of 0.0371%. The etf secures a Beta (Market Risk) of 0.0609, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mackenzie High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mackenzie High is expected to be smaller as well.
Auto-correlation | 0.51 |
Modest predictability
Mackenzie High Yield has modest predictability. Overlapping area represents the amount of predictability between Mackenzie High time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Mackenzie High Yield price movement. The serial correlation of 0.51 indicates that about 51.0% of current Mackenzie High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 4.52 |
Mackenzie High Yield lagged returns against current returns
Autocorrelation, which is Mackenzie High 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 Mackenzie High's etf expected returns. We can calculate the autocorrelation of Mackenzie High returns to help us make a trade decision. For example, suppose you find that Mackenzie High 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 |
Mackenzie High 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 Mackenzie High etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mackenzie High etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mackenzie High etf over time.
Current vs Lagged Prices |
| Timeline |
Mackenzie High Lagged Returns
When evaluating Mackenzie High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mackenzie High etf have on its future price. Mackenzie High 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, Mackenzie High autocorrelation shows the relationship between Mackenzie High etf current value and its past values and can show if there is a momentum factor associated with investing in Mackenzie High Yield.
Regressed Prices |
| Timeline |
Pair Trading with Mackenzie High
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 Mackenzie High 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 Mackenzie High will appreciate offsetting losses from the drop in the long position's value.Moving together with Mackenzie Etf
| 0.79 | ZHY | BMO High Yield | PairCorr |
| 0.71 | XSI | iShares Short Term | PairCorr |
| 0.65 | PBD | Purpose Total Return | PairCorr |
The ability to find closely correlated positions to Mackenzie High could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mackenzie High 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 Mackenzie High - 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 Mackenzie High Yield to buy it.
The correlation of Mackenzie High 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 Mackenzie High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie High Yield 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 Mackenzie High 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 Mackenzie Etf
Mackenzie High financial ratios help investors to determine whether Mackenzie 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 Mackenzie with respect to the benefits of owning Mackenzie High security.