Megashort Canadian Gold Etf Market Value
| CGMD Etf | 15.78 1.61 9.26% |
| Symbol | MegaShort |
MegaShort 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 MegaShort 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 MegaShort Canadian.
| 04/23/2025 |
| 07/22/2025 |
If you would invest 0.00 in MegaShort Canadian on April 23, 2025 and sell it all today you would earn a total of 0.00 from holding MegaShort Canadian Gold or generate 0.0% return on investment in MegaShort Canadian over 90 days.
MegaShort 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 MegaShort 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 MegaShort Canadian Gold upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 17.56 | |||
| Value At Risk | (9.26) | |||
| Potential Upside | 3.56 |
MegaShort Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MegaShort Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MegaShort Canadian's standard deviation. In reality, there are many statistical measures that can use MegaShort Canadian historical prices to predict the future MegaShort Canadian's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.67) | |||
| Total Risk Alpha | (1.27) | |||
| Treynor Ratio | 3.67 |
MegaShort Canadian Gold Backtested Returns
MegaShort Canadian Gold has Sharpe Ratio of -0.17, which conveys that the entity had a -0.17 % return per unit of risk over the last 3 months. MegaShort Canadian exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MegaShort Canadian's Mean Deviation of 2.13, standard deviation of 3.98, and Risk Adjusted Performance of (0.15) to check out the risk estimate we provide. The etf secures a Beta (Market Risk) of -0.19, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning MegaShort Canadian are expected to decrease at a much lower rate. During the bear market, MegaShort Canadian is likely to outperform the market.
Auto-correlation | 0.13 |
Insignificant predictability
MegaShort Canadian Gold has insignificant predictability. Overlapping area represents the amount of predictability between MegaShort Canadian time series from 23rd of April 2025 to 7th of June 2025 and 7th of June 2025 to 22nd of July 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 MegaShort Canadian Gold price movement. The serial correlation of 0.13 indicates that less than 13.0% of current MegaShort Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.13 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 0.33 |
MegaShort Canadian Gold lagged returns against current returns
Autocorrelation, which is MegaShort 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 MegaShort Canadian's etf expected returns. We can calculate the autocorrelation of MegaShort Canadian returns to help us make a trade decision. For example, suppose you find that MegaShort 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 |
MegaShort 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 MegaShort Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MegaShort Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MegaShort Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
MegaShort Canadian Lagged Returns
When evaluating MegaShort Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MegaShort Canadian etf have on its future price. MegaShort 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, MegaShort Canadian autocorrelation shows the relationship between MegaShort Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in MegaShort Canadian Gold.
Regressed Prices |
| Timeline |
Pair Trading with MegaShort 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 MegaShort 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 MegaShort Canadian will appreciate offsetting losses from the drop in the long position's value.Moving against MegaShort Etf
The ability to find closely correlated positions to MegaShort 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 MegaShort 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 MegaShort 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 MegaShort Canadian Gold to buy it.
The correlation of MegaShort 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 MegaShort Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MegaShort Canadian Gold 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 MegaShort 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.