Td Canadian Long Etf Market Value
| TCLB Etf | CAD 123.00 1.80 1.49% |
| Symbol | TCLB |
TD 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 TD 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 TD Canadian.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in TD Canadian on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding TD Canadian Long or generate 0.0% return on investment in TD Canadian over 180 days. TD Canadian is related to or competes with NBI High, NBI Unconstrained, Mackenzie Developed, BMO Short, BMO Canadian, and Guardian Directed. TD Canadian Long Term Federal Bond ETF seeks to earn a high rate of interest income by investing primarily in, or gainin... More
TD 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 TD 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 TD Canadian Long upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.696 | |||
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 2.6 | |||
| Value At Risk | (1.07) | |||
| Potential Upside | 1.08 |
TD Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TD Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TD Canadian's standard deviation. In reality, there are many statistical measures that can use TD Canadian historical prices to predict the future TD Canadian's volatility.| Risk Adjusted Performance | 0.0162 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | (0.18) | |||
| Treynor Ratio | 0.0436 |
TD Canadian Long Backtested Returns
As of now, TCLB Etf is very steady. TD Canadian Long retains Efficiency (Sharpe Ratio) of 0.0286, which indicates the etf had a 0.0286% return per unit of price deviation over the last 3 months. We have found thirty technical indicators for TD Canadian, which you can use to evaluate the volatility of the etf. Please validate TD Canadian's Downside Deviation of 0.696, risk adjusted performance of 0.0162, and Mean Deviation of 0.5252 to confirm if the risk estimate we provide is consistent with the expected return of 0.019%. The entity owns a Beta (Systematic Risk) of 0.12, which indicates not very significant fluctuations relative to the market. As returns on the market increase, TD Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding TD Canadian is expected to be smaller as well.
Auto-correlation | -0.29 |
Weak reverse predictability
TD Canadian Long has weak reverse predictability. Overlapping area represents the amount of predictability between TD Canadian time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 TD Canadian Long price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current TD Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 3.99 |
TD Canadian Long lagged returns against current returns
Autocorrelation, which is TD 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 TD Canadian's etf expected returns. We can calculate the autocorrelation of TD Canadian returns to help us make a trade decision. For example, suppose you find that TD 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 |
TD 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 TD Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TD Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TD Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
TD Canadian Lagged Returns
When evaluating TD Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TD Canadian etf have on its future price. TD 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, TD Canadian autocorrelation shows the relationship between TD Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in TD Canadian Long.
Regressed Prices |
| Timeline |
Pair Trading with TD 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 TD 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 TD Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with TCLB Etf
Moving against TCLB Etf
| 0.64 | XFR | iShares Floating Rate | PairCorr |
| 0.63 | XIC | iShares Core SPTSX | PairCorr |
| 0.63 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.63 | VFV | Vanguard SP 500 | PairCorr |
| 0.62 | ZSP | BMO SP 500 | PairCorr |
The ability to find closely correlated positions to TD 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 TD 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 TD 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 TD Canadian Long to buy it.
The correlation of TD 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 TD Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Canadian Long 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 TD 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 TCLB Etf
TD Canadian financial ratios help investors to determine whether TCLB 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 TCLB with respect to the benefits of owning TD Canadian security.