Megalong Canadian Banks Etf Market Value
| BNKU Etf | 38.23 0.84 2.15% |
| Symbol | MegaLong |
MegaLong 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 MegaLong 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 MegaLong Canadian.
| 09/03/2025 |
| 12/02/2025 |
If you would invest 0.00 in MegaLong Canadian on September 3, 2025 and sell it all today you would earn a total of 0.00 from holding MegaLong Canadian Banks or generate 0.0% return on investment in MegaLong Canadian over 90 days.
MegaLong 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 MegaLong 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 MegaLong Canadian Banks upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.98 | |||
| Information Ratio | 0.2406 | |||
| Maximum Drawdown | 10.48 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 3.78 |
MegaLong Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MegaLong Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MegaLong Canadian's standard deviation. In reality, there are many statistical measures that can use MegaLong Canadian historical prices to predict the future MegaLong Canadian's volatility.| Risk Adjusted Performance | 0.193 | |||
| Jensen Alpha | 0.4641 | |||
| Total Risk Alpha | 0.3815 | |||
| Sortino Ratio | 0.2341 | |||
| Treynor Ratio | 0.5073 |
MegaLong Canadian Banks Backtested Returns
MegaLong Canadian appears to be very steady, given 3 months investment horizon. MegaLong Canadian Banks has Sharpe Ratio of 0.27, which conveys that the entity had a 0.27 % return per unit of risk over the last 3 months. By analyzing MegaLong Canadian's technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please exercise MegaLong Canadian's Downside Deviation of 1.98, risk adjusted performance of 0.193, and Mean Deviation of 1.34 to check out if our risk estimates are consistent with your expectations. The etf secures a Beta (Market Risk) of 1.01, which conveys a somewhat significant risk relative to the market. MegaLong Canadian returns are very sensitive to returns on the market. As the market goes up or down, MegaLong Canadian is expected to follow.
Auto-correlation | 0.85 |
Very good predictability
MegaLong Canadian Banks has very good predictability. Overlapping area represents the amount of predictability between MegaLong Canadian time series from 3rd of September 2025 to 18th of October 2025 and 18th of October 2025 to 2nd of December 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 MegaLong Canadian Banks price movement. The serial correlation of 0.85 indicates that around 85.0% of current MegaLong Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.85 | |
| Spearman Rank Test | 0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 2.64 |
MegaLong Canadian Banks lagged returns against current returns
Autocorrelation, which is MegaLong 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 MegaLong Canadian's etf expected returns. We can calculate the autocorrelation of MegaLong Canadian returns to help us make a trade decision. For example, suppose you find that MegaLong 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 |
MegaLong 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 MegaLong Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MegaLong Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MegaLong Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
MegaLong Canadian Lagged Returns
When evaluating MegaLong Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MegaLong Canadian etf have on its future price. MegaLong 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, MegaLong Canadian autocorrelation shows the relationship between MegaLong Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in MegaLong Canadian Banks.
Regressed Prices |
| Timeline |
Pair Trading with MegaLong 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 MegaLong 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 MegaLong Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with MegaLong Etf
| 0.88 | XIU | iShares SPTSX 60 | PairCorr |
| 0.71 | XSP | iShares Core SP | PairCorr |
| 0.87 | XIC | iShares Core SPTSX | PairCorr |
| 0.8 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.78 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to MegaLong 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 MegaLong 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 MegaLong 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 MegaLong Canadian Banks to buy it.
The correlation of MegaLong 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 MegaLong Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MegaLong Canadian Banks 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 MegaLong 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.