Bmo Covered Call Etf Market Value
| ZWK Etf | CAD 20.95 0.19 0.92% |
| Symbol | BMO |
BMO Covered '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 Covered'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 Covered.
| 04/07/2024 |
| 05/07/2024 |
If you would invest 0.00 in BMO Covered on April 7, 2024 and sell it all today you would earn a total of 0.00 from holding BMO Covered Call or generate 0.0% return on investment in BMO Covered over 30 days. BMO Covered is related to or competes with BMO Global, BMO Covered, BMO Europe, BMO Canadian, and First Asset. BMO COVERED is traded on Toronto Stock Exchange in Canada. More
BMO Covered 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 Covered'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 Covered Call upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8733 | |||
| Information Ratio | 0.1411 | |||
| Maximum Drawdown | 4.27 | |||
| Value At Risk | (1.31) | |||
| Potential Upside | 1.8 |
BMO Covered Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Covered's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Covered's standard deviation. In reality, there are many statistical measures that can use BMO Covered historical prices to predict the future BMO Covered's volatility.| Risk Adjusted Performance | 0.1406 | |||
| Jensen Alpha | 0.1493 | |||
| Total Risk Alpha | 0.1004 | |||
| Sortino Ratio | 0.155 | |||
| Treynor Ratio | 0.2552 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of BMO Covered'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.
BMO Covered Call Backtested Returns
BMO Covered appears to be very steady, given 3 months investment horizon. BMO Covered Call 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 Covered Call, which you can use to evaluate the volatility of the entity. Please makes use of BMO Covered's risk adjusted performance of 0.1406, and Mean Deviation of 0.7501 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.79, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, BMO Covered's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO Covered is expected to be smaller as well.
Auto-correlation | 0.23 |
Weak predictability
BMO Covered Call has weak predictability. Overlapping area represents the amount of predictability between BMO Covered time series from 7th of April 2024 to 22nd of April 2024 and 22nd of April 2024 to 7th 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 BMO Covered Call price movement. The serial correlation of 0.23 indicates that over 23.0% of current BMO Covered price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
BMO Covered Call lagged returns against current returns
Autocorrelation, which is BMO Covered 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 Covered's etf expected returns. We can calculate the autocorrelation of BMO Covered returns to help us make a trade decision. For example, suppose you find that BMO Covered 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 Covered 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 Covered etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Covered etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Covered etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Covered Lagged Returns
When evaluating BMO Covered's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Covered etf have on its future price. BMO Covered 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 Covered autocorrelation shows the relationship between BMO Covered etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Covered Call.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Check out BMO Covered Correlation, BMO Covered Volatility and BMO Covered Alpha and Beta module to complement your research on BMO Covered. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
BMO Covered 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.