Ci Wisdomtree Quality Etf Market Value
| DGR-B Etf | CAD 47.59 0.27 0.57% |
| Symbol | DGR-B |
CI WisdomTree '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 CI WisdomTree'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 CI WisdomTree.
| 04/03/2024 |
| 05/03/2024 |
If you would invest 0.00 in CI WisdomTree on April 3, 2024 and sell it all today you would earn a total of 0.00 from holding CI WisdomTree Quality or generate 0.0% return on investment in CI WisdomTree over 30 days. CI WisdomTree is related to or competes with IShares SPTSX, IShares Core, IShares Core, BMO Aggregate, IShares Canadian, BMO SPTSX, and BMO SP. The ETF seeks to track, to the extent possible, the price and yield performance of the WisdomTree U.S More
CI WisdomTree 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 CI WisdomTree'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 CI WisdomTree Quality upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5116 | |||
| Information Ratio | 0.014 | |||
| Maximum Drawdown | 2.84 | |||
| Value At Risk | (0.80) | |||
| Potential Upside | 1.16 |
CI WisdomTree Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CI WisdomTree's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CI WisdomTree's standard deviation. In reality, there are many statistical measures that can use CI WisdomTree historical prices to predict the future CI WisdomTree's volatility.| Risk Adjusted Performance | 0.0714 | |||
| Jensen Alpha | 0.0572 | |||
| Total Risk Alpha | 0.014 | |||
| Sortino Ratio | 0.0152 | |||
| Treynor Ratio | (0.55) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CI WisdomTree's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
CI WisdomTree Quality Backtested Returns
We consider CI WisdomTree out of control. CI WisdomTree Quality retains Efficiency (Sharpe Ratio) of 0.1, which signifies that the etf had a 0.1% return per unit of price deviation over the last 3 months. We have found thirty technical indicators for CI WisdomTree, which you can use to evaluate the volatility of the entity. Please confirm CI WisdomTree's Coefficient Of Variation of 880.99, standard deviation of 0.5544, and Market Risk Adjusted Performance of (0.54) to double-check if the risk estimate we provide is consistent with the expected return of 0.0541%. The etf owns a Beta (Systematic Risk) of -0.0956, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning CI WisdomTree are expected to decrease at a much lower rate. During the bear market, CI WisdomTree is likely to outperform the market.
Auto-correlation | 0.08 |
Virtually no predictability
CI WisdomTree Quality has virtually no predictability. Overlapping area represents the amount of predictability between CI WisdomTree time series from 3rd of April 2024 to 18th of April 2024 and 18th of April 2024 to 3rd of May 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 CI WisdomTree Quality price movement. The serial correlation of 0.08 indicates that barely 8.0% of current CI WisdomTree price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | -0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
CI WisdomTree Quality lagged returns against current returns
Autocorrelation, which is CI WisdomTree 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 CI WisdomTree's etf expected returns. We can calculate the autocorrelation of CI WisdomTree returns to help us make a trade decision. For example, suppose you find that CI WisdomTree 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 |
CI WisdomTree 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 CI WisdomTree etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CI WisdomTree etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CI WisdomTree etf over time.
Current vs Lagged Prices |
| Timeline |
CI WisdomTree Lagged Returns
When evaluating CI WisdomTree's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CI WisdomTree etf have on its future price. CI WisdomTree 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, CI WisdomTree autocorrelation shows the relationship between CI WisdomTree etf current value and its past values and can show if there is a momentum factor associated with investing in CI WisdomTree Quality.
Regressed Prices |
| Timeline |
Pair Trading with CI WisdomTree
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 CI WisdomTree 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 CI WisdomTree will appreciate offsetting losses from the drop in the long position's value.Moving together with DGR-B Etf
| 0.86 | XIU | iShares SPTSX 60 | PairCorr |
| 0.88 | XSP | iShares Core SP | PairCorr |
| 0.84 | XIC | iShares Core SPTSX | PairCorr |
The ability to find closely correlated positions to CI WisdomTree could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI WisdomTree 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 CI WisdomTree - 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 CI WisdomTree Quality to buy it.
The correlation of CI WisdomTree 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 CI WisdomTree moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI WisdomTree Quality 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 CI WisdomTree 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.Check out CI WisdomTree Correlation, CI WisdomTree Volatility and CI WisdomTree Alpha and Beta module to complement your research on CI WisdomTree. Note that the CI WisdomTree Quality information on this page should be used as a complementary analysis to other CI WisdomTree's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
CI WisdomTree technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.