Bmo Nasdaq 100 Etf Market Value
| ZNQ Etf | CAD 94.94 0.25 0.26% |
| Symbol | BMO |
BMO NASDAQ '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 NASDAQ'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 NASDAQ.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in BMO NASDAQ on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding BMO NASDAQ 100 or generate 0.0% return on investment in BMO NASDAQ over 30 days. BMO NASDAQ is related to or competes with Global X, BMO NASDAQ, BMO SP, BMO MSCI, and TD Global. BMO Nasdaq 100 Equity Index ETF seeks to replicate, to the extent possible, the performance of a NASDAQ listed companies... More
BMO NASDAQ 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 NASDAQ'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 NASDAQ 100 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.18 | |||
| Information Ratio | 0.0437 | |||
| Maximum Drawdown | 5.56 | |||
| Value At Risk | (2.06) | |||
| Potential Upside | 1.54 |
BMO NASDAQ Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO NASDAQ's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO NASDAQ's standard deviation. In reality, there are many statistical measures that can use BMO NASDAQ historical prices to predict the future BMO NASDAQ's volatility.| Risk Adjusted Performance | 0.138 | |||
| Jensen Alpha | 0.0989 | |||
| Total Risk Alpha | 5.0E-4 | |||
| Sortino Ratio | 0.038 | |||
| Treynor Ratio | 0.2989 |
BMO NASDAQ 100 Backtested Returns
BMO NASDAQ appears to be very steady, given 3 months investment horizon. BMO NASDAQ 100 secures Sharpe Ratio (or Efficiency) of 0.22, which signifies that the etf had a 0.22% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for BMO NASDAQ 100, which you can use to evaluate the volatility of the entity. Please makes use of BMO NASDAQ's mean deviation of 0.7154, and Risk Adjusted Performance of 0.138 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.58, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, BMO NASDAQ's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO NASDAQ is expected to be smaller as well.
Auto-correlation | 0.54 |
Modest predictability
BMO NASDAQ 100 has modest predictability. Overlapping area represents the amount of predictability between BMO NASDAQ time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 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 BMO NASDAQ 100 price movement. The serial correlation of 0.54 indicates that about 54.0% of current BMO NASDAQ price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.41 |
BMO NASDAQ 100 lagged returns against current returns
Autocorrelation, which is BMO NASDAQ 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 NASDAQ's etf expected returns. We can calculate the autocorrelation of BMO NASDAQ returns to help us make a trade decision. For example, suppose you find that BMO NASDAQ 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 NASDAQ 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 NASDAQ etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO NASDAQ etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO NASDAQ etf over time.
Current vs Lagged Prices |
| Timeline |
BMO NASDAQ Lagged Returns
When evaluating BMO NASDAQ's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO NASDAQ etf have on its future price. BMO NASDAQ 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 NASDAQ autocorrelation shows the relationship between BMO NASDAQ etf current value and its past values and can show if there is a momentum factor associated with investing in BMO NASDAQ 100.
Regressed Prices |
| Timeline |
Pair Trading with BMO NASDAQ
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 NASDAQ 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 NASDAQ will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
| 0.97 | XSP | iShares Core SP | PairCorr |
| 0.99 | ZSP | BMO SP 500 | PairCorr |
| 0.99 | VFV | Vanguard SP 500 | PairCorr |
| 0.99 | HXS | Global X SP | PairCorr |
| 0.99 | XUS | iShares Core SP | PairCorr |
The ability to find closely correlated positions to BMO NASDAQ 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 NASDAQ 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 NASDAQ - 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 NASDAQ 100 to buy it.
The correlation of BMO NASDAQ 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 NASDAQ moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO NASDAQ 100 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 NASDAQ 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 NASDAQ 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 NASDAQ security.