Td Canadian Bank Etf Fundamentals
| TBNK Etf | 41.80 0.20 0.48% |
By evaluating key metrics such as revenue growth, profitability, cash flow trends, and balance sheet strength, investors can better assess TD Canadian's long-term financial health and intrinsic value.
TBNK |
TD Canadian Bank ETF One Year Return Analysis
TD Canadian's One Year Return is the annualized return generated from holding a security for exactly 12 months. The measure is considered to be good short-term measures of fund performance. In other words, it represents the capital appreciation of fund investments over the last year. However when the market is volatile such as in recent years, One Year Return measure can be misleading.
More About One Year Return | All Equity Analysis
One Year Return | = | (Mean of Monthly Returns - 1) | X | 100% |
Current TD Canadian One Year Return | 45.60 % |
Most of TD Canadian's fundamental indicators, such as One Year Return, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, TD Canadian Bank is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Although One Year Fund Return indicator can give a sense of overall fund short-term potential, it is recommended to look at mid and long term return measure before selecting a particular fund or ETF. The great way to validate fund short-term performance is to compare it with other similar funds or ETFs for the same 12 months interval.
| Competition |
Based on the recorded statements, TD Canadian Bank has an One Year Return of 45.6%. This is much higher than that of the family and significantly higher than that of the Financial Services Equity category. The one year return for all Canada etfs is notably lower than that of the firm.
TBNK One Year Return Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses TD Canadian's direct or indirect competition against its One Year Return to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of TD Canadian could also be used in its relative valuation, which is a method of valuing TD Canadian by comparing valuation metrics of similar companies.TD Canadian is currently under evaluation in one year return as compared to similar ETFs.
About TD Canadian Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze TD Canadian Bank's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of TD Canadian using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of TD Canadian Bank based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with TD 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 TD 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 TD Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with TBNK Etf
| 1.0 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.77 | XFN | iShares SPTSX Capped | PairCorr |
| 0.96 | ZBK | BMO Equal Weight | PairCorr |
| 0.77 | HCA | Hamilton Canadian Bank | PairCorr |
| 0.97 | ZUB | BMO Equal Weight | PairCorr |
The ability to find closely correlated positions to TD 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 TD 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 TD 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 TD Canadian Bank to buy it.
The correlation of TD 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 TD Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Canadian Bank 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 TD 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.Other Information on Investing in TBNK Etf
TD Canadian financial ratios help investors to determine whether TBNK 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 TBNK with respect to the benefits of owning TD Canadian security.