Bmo Discount Bond Etf Market Value
| ZDB Etf | CAD 15.40 0.07 0.46% |
| Symbol | BMO |
BMO Discount '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 BMO Discount'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 BMO Discount.
| 01/30/2025 |
| 03/01/2025 |
If you would invest 0.00 in BMO Discount on January 30, 2025 and sell it all today you would earn a total of 0.00 from holding BMO Discount Bond or generate 0.0% return on investment in BMO Discount over 30 days. BMO Discount is related to or competes with Vanguard Canadian, BMO Aggregate, BMO Short, CI 1, and BMO Ultra. BMO Discount Bond Index ETF seeks to replicate, to the extent possible, the performance of a discount bond index represe... More
BMO Discount 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 BMO Discount'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 BMO Discount Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3875 | |||
| Information Ratio | 0.1626 | |||
| Maximum Drawdown | 2.0 | |||
| Value At Risk | (0.65) | |||
| Potential Upside | 0.7266 |
BMO Discount Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Discount's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Discount's standard deviation. In reality, there are many statistical measures that can use BMO Discount historical prices to predict the future BMO Discount's volatility.| Risk Adjusted Performance | 0.0866 | |||
| Jensen Alpha | 0.0444 | |||
| Total Risk Alpha | 0.053 | |||
| Sortino Ratio | 0.1646 | |||
| Treynor Ratio | 0.2609 |
BMO Discount Bond Backtested Returns
As of now, BMO Etf is very steady. BMO Discount Bond secures Sharpe Ratio (or Efficiency) of 0.0672, which signifies that the etf had a 0.0672 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for BMO Discount Bond, which you can use to evaluate the volatility of the entity. Please confirm BMO Discount's risk adjusted performance of 0.0866, and Mean Deviation of 0.3053 to double-check if the risk estimate we provide is consistent with the expected return of 0.0254%. The etf shows a Beta (market volatility) of 0.16, which signifies not very significant fluctuations relative to the market. As returns on the market increase, BMO Discount's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO Discount is expected to be smaller as well.
Auto-correlation | -0.6 |
Good reverse predictability
BMO Discount Bond has good reverse predictability. Overlapping area represents the amount of predictability between BMO Discount time series from 30th of January 2025 to 14th of February 2025 and 14th of February 2025 to 1st of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of BMO Discount Bond price movement. The serial correlation of -0.6 indicates that roughly 60.0% of current BMO Discount price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.6 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
BMO Discount Bond lagged returns against current returns
Autocorrelation, which is BMO Discount 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 BMO Discount's etf expected returns. We can calculate the autocorrelation of BMO Discount returns to help us make a trade decision. For example, suppose you find that BMO Discount 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 |
BMO Discount 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 BMO Discount etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Discount etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Discount etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Discount Lagged Returns
When evaluating BMO Discount's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Discount etf have on its future price. BMO Discount 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, BMO Discount autocorrelation shows the relationship between BMO Discount etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Discount Bond.
Regressed Prices |
| Timeline |
Pair Trading with BMO Discount
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 BMO Discount 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 BMO Discount will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
| 0.99 | ZAG | BMO Aggregate Bond | PairCorr |
| 1.0 | XBB | iShares Canadian Universe | PairCorr |
| 0.98 | ZCPB | BMO Core Plus | PairCorr |
| 1.0 | XGB | iShares Canadian Gov | PairCorr |
The ability to find closely correlated positions to BMO Discount could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BMO Discount 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 BMO Discount - 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 BMO Discount Bond to buy it.
The correlation of BMO Discount 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 BMO Discount moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Discount Bond 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 BMO Discount 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 BMO Etf
BMO Discount financial ratios help investors to determine whether BMO 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 BMO with respect to the benefits of owning BMO Discount security.