Brazil Small-Cap ETF EWZ

Brazil Small-Cap ETF closed down by -4.34% to 18.74 on 23 January 2021 and +-7.55% on a weekly basis. Brazil Small-Cap ETF momentum was last calculated at -50.0/100 indicating negative momentum. Brazil Small-Cap ETF trend is +25.0/100 indicating a positive trend. Brazil Small-Cap ETF momentum exhaustion is 0.55006 indicating Brazil Small-Cap ETF is oversold.Brazil Small-Cap ETF RSI is 50.9047 .

Brazil Small-Cap ETF EWZ Chart

Brazil Small-Cap ETF EWZ

Brazil Small-Cap ETF EWZ Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the Brazil Small-Cap ETF. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the Brazil Small-Cap ETF trading signals presented in the Brazil Small-Cap ETF statistics table.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Brazil Small-Cap ETF EWZ 18.74 -0.5 0.25 0.55006 50.9047 -4.34 -7.55 8.89 -0.23968

Brazil Small-Cap ETF closed at 18.74 on 23 January 2021. Brazil Small-Cap ETF trend was last calculated at +25.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Brazil Small-Cap ETF momentum was last calculated at -50.0/100 (range: -100 to +100) indicating negative momentum. Brazil Small-Cap ETF momentum exhaustion is 0.55006 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Brazil Small-Cap ETF is oversold and a possible reversal is imminent. Brazil Small-Cap ETF RSI was last calculated at 50.9047. Brazil Small-Cap ETF moving averages were last recorded as follows: 1-month moving average: 16.612 in a downtrend , 1-quarter moving average: 14.9423 in an uptrend and 1-year moving average: 14.2732 in a downtrend. Brazil Small-Cap ETF annual return was last recorded at None%, daily return was last recorded at -4.34%, and weekly return was last recorded at -7.55%. Brazil Small-Cap ETF histrorical 20-day volatility was last recorded at 23.4641%, Brazil Small-Cap ETF alpha None, Brazil Small-Cap ETF beta None and Brazil Small-Cap ETF maximum drawdown was recorded at None%. MacroVar models monitor Brazil Small-Cap ETF statistics based on historical data since 1970.

Brazil Small-Cap ETF EWZ News

Brazil Small-Cap ETF Factors

Brazil Small-Cap ETF

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
Brazil PMI vs ETF BR.FACT.ETFPMI 12.41 73.0563 -1.83871

Brazil Small-Cap ETF related Indicators

Brazil Small-Cap ETF

Security Type Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Bovespa Stock Index BOVESPA 125929 0.5 1 1.47509 69.8042 -1.93 -2.2 4.42 0.02722
Brazil PMI vs ETF ETF vs PMI Factor BR.FACT.ETFPMI 12.41

Brazil Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Bovespa BOVESPA 125929 0.5 1 1.47509 69.8042 -1.93 -2.2 4.42 0.02722
Brazil Small-Cap ETF EWZ 18.74 -0.5 0.25 0.55006 50.9047 -4.34 -7.55 8.89 -0.23968
Brazil Real US Dollar (BRL/USD) BRLUSD 5.19 -0.5 -0.25 -0.00298 47.6309 2.3 4.5 -2.89 0.2566
Brazil 10-Year Bond Yield BR.10Y 9.21 -1 -0.5 -0.41829 31.6399 -0.38 -1.23 1.6 0.02147
Brazil 5-Year Bond Yield BR.5Y 8.14 -1 -0.75 -1.04766 25.754 0.56 -1.93 2.97 -0.13698
Brazil 2-year bond yield BR.2Y 7.74 0 0.5 0.46665 50.1619 -2.89 -5.26 9.87 -0.17705
Brazil Yield Curve BR.YC 1.47 0 -0.75 -0.72686 37.1358 15.29 14.84 -27.94 0.58138
Brazil Credit Default Swaps CDS.Brazil 178 -1 -0.75 -0.93254 29.5577 2.3 9.88 -6.81 0.46808

Brazil Economic Indicators

Indicator Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade 10372 9290.87 0.116365 0.595236 1.0 1.0 0.833333 2021-06-30
bank lending rate 39.93 41.02 -0.0265724 -0.0657464 1.0 -1.0 0.65 2021-05-31
banks balance sheet 8438640 8356790 0.00979443 0.226942 1.0 1.0 0.5 2021-02-28
business confidence 62 61.7 0.00486224 0.302521 1.0 1.0 0.8 2021-07-31
capacity utilization 81.6 82.3 -0.00850547 0.157447 1.0 1.0 0.983333 2021-05-31
capital flows 4130 5639.1 -0.267614 5.52243 1.0 1.0 1 2021-05-31
car registrations 182 189 -0.037037 0.368421 -1.0 1.0 0.95 2021-06-30
cash reserve ratio 21 21 0 0 -1.0 -1.0 0.633333 2020-01-31
central bank balance sheet 4052470000 4153300000 -0.0242771 0.0240751 -1.0 1.0 0.0833333 2021-04-30
composite pmi 54.6 49.2 0.109756 0.348148 1.0 1.0 0.966667 2021-06-30
consumer confidence 43.8 42.8 0.0233645 0.0428571 -1.0 1.0 0.75 2020-08-31
consumer price index cpi 5769.98 5739.56 0.00530006 0.0834707 1.0 1.0 0.95 2021-06-30
core inflation rate 4.69 4.16 0.127404 1.43636 1.0 1.0 1 2021-06-30
current account 3840.4 5663 -0.321844 21.9141 1.0 1.0 1 2021-05-31
current account to gdp -0.72 -2.7 -0.733333 -0.6 1.0 1.0 0 2020-01-31
deposit interest rate 2.3 1.91 0.204188 0.133005 1.0 1.0 1 2021-05-31
exports 28104.3 26948.3 0.042897 0.607889 1.0 1.0 1 2021-06-30
external debt 636720 627565 0.0145881 -0.0189154 -1.0 -1.0 0.283333 2021-04-01
foreign direct investment 1228.66 3540 -0.652921 -0.601118 -1.0 -1.0 0.25 2021-05-31
foreign exchange reserves 352486 353448 -0.00272176 0.0106227 -1.0 1.0 0.533333 2021-06-30
gdp 1444.73 1839.76 -0.214718 -0.148064 -1.0 -1.0 0 2020-01-31
Real GDP 297300 300265 -0.00987461 0.0219304 1.0 1.0 0.316667 2021-03-01
gdp growth 1.2 3.2 -0.625 2 1.0 1.0 0.9 2021-01-01
gdp growth annual 1 -1.1 -1.90909 -0.444444 1.0 -1.0 0.683333 2021-03-31
gold reserves 67.36 67.36 0 0.00104027 1.0 1.0 0.533333 2020-08-01
government budget -13.4 -5.9 1.27119 5.7 -1.0 -1.0 0 2020-01-31
Government budget -37400 30000 -2.24667 -0.73362 1.0 1.0 0.1 2021-05-31
government debt 6696350 6665280 0.00466147 0.129406 1.0 1.0 0 2021-05-31
government debt to gdp 75.79 76.53 -0.00966941 0.336213 1.0 1.0 0 2019-01-31
government revenues 142100 156822 -0.0938771 0.835552 1.0 1.0 1 2021-05-31
housing index 135.4 135 0.00296296 0.0415385 1.0 1.0 1 2021-04-30
imports 17732.3 17657.4 0.00424185 0.61539 1.0 1.0 0.983333 2021-06-30
industrial production 24 34.7 -0.308357 -2.09589 1.0 1.0 0.25 2021-05-31
industrial production mom 1.4 -1.5 -1.93333 -0.82716 -1.0 -1.0 0.6 2021-05-31
inflation cpi 8.35 8.06 0.0359802 2.92019 1.0 1.0 0.983333 2021-06-30
interest rate 2 2 0 -0.666667 -1.0 -1.0 0.0333333 2021-01-02
loan growth 1.2 0.5 1.4 3 -1.0 1.0 0.95 2021-05-31
loans to private sector 675760 679108 -0.00493 0.195748 1.0 1.0 0.916667 2021-05-31
manufacturing pmi 56.4 53.7 0.0502793 0.0930233 -1.0 1.0 0.666667 2021-06-30
money supply m0 422212 403528 0.0463016 0.106194 1.0 1.0 0.7 2021-06-30
money supply m1 615234 580690 0.0594878 0.186336 1.0 1.0 0.783333 2021-06-30
money supply m2 3939570 3922520 0.0043467 0.118716 1.0 1.0 0.583333 2021-05-31
money supply m3 8227660 8113100 0.0141204 0.143323 1.0 1.0 0.816667 2021-05-31
Producer Price Index 147.65 145.77 0.012897 0.358613 1.0 1.0 1 2021-05-31
PPI Index 35.7 33.5 0.0656716 3.63636 1.0 1.0 0.95 2021-04-30
retail sales MoM 1.8 -1.1 -2.63636 -1.75 1.0 1.0 0.283333 2021-04-30
retail sales 16 23.7 -0.324895 -3.16216 1.0 1.0 0.1 2021-05-31
services pmi 53.9 48.3 0.115942 0.501393 1.0 1.0 0.966667 2021-06-30
total vehicle sales 133318 142673 -0.0655695 0.301934 -1.0 1.0 0.95 2021-06-30
unemployment rate 14.7 14.4 0.0208333 0.204918 1.0 1.0 0.666667 2021-03-31

Brazil Small-Cap ETF Trading Signals


MacroVar estimates the following signals: Brazil Small-Cap ETF momentum, Brazil Small-Cap ETF trend, Brazil Small-Cap ETF oscillator, Brazil Small-Cap ETF RSI and Brazil Small-Cap ETF returns.

Brazil Small-Cap ETF Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarBrazil Small-Cap ETF momentum signal ranges from -100 to +100. The Brazil Small-Cap ETF momentum signal is derived as the mean value from 4 calculations for the Brazil Small-Cap ETF. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Brazil Small-Cap ETF return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Brazil Small-Cap ETF EWZ momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Brazil Small-Cap ETF momentum signal moves from positive to negative value or vice-versa.

Brazil Small-Cap ETF trend

Brazil Small-Cap ETF trend signal ranges from -100 to +100. Brazil Small-Cap ETF trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Brazil Small-Cap ETF Closing price vs Brazil Small-Cap ETF moving average (MA) calculation: If Brazil Small-Cap ETF is greater than Brazil Small-Cap ETF MA value is +1, else -1, 2. Brazil Small-Cap ETF Moving average slope calculation: if current Brazil Small-Cap ETF moving average is higher than the previous MA, Brazil Small-Cap ETF upward slope +1, else -1
Brazil Small-Cap ETF trend model can be used as a trend strength indicator. Brazil Small-Cap ETF trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Brazil Small-Cap ETF trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Brazil Small-Cap ETF 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Brazil Small-Cap ETF is in an uptrend when Brazil Small-Cap ETF price is higher than the 52-week moving average and the Brazil Small-Cap ETF 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Brazil Small-Cap ETF oscillator and Brazil Small-Cap ETF RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Brazil Small-Cap ETF oscillator

The Brazil Small-Cap ETF oscillator estimated by MacroVar is the z-score of the current Brazil Small-Cap ETF price versus Brazil Small-Cap ETF 1-year simple moving average price. The formula for the Brazil Small-Cap ETF oscillator is:
Brazil Small-Cap ETF oscillator = (Current Price – 250 trading days Brazil Small-Cap ETF simple moving average price) / (250 days Brazil Small-Cap ETF price standard deviation)

Brazil Small-Cap ETF oversold conditions
Brazil Small-Cap ETF is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Brazil Small-Cap ETF is oversold it is often due for a rebound. Values of the Brazil Small-Cap ETF oscillator lower than -2.5 signify oversold conditions. It must be noted that the Brazil Small-Cap ETF oscillator must be analyzed ibn conjunction with the rest of Brazil Small-Cap ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Brazil Small-Cap ETF RSI.
Brazil Small-Cap ETF overbought conditions
Brazil Small-Cap ETF is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Brazil Small-Cap ETF is overbought it is often due for a correction. Values of the Brazil Small-Cap ETF oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Brazil Small-Cap ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Brazil Small-Cap ETF RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Brazil Small-Cap ETF is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Brazil Small-Cap ETF uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Brazil Small-Cap ETF returns

MacroVar calculates Brazil Small-Cap ETF returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Brazil Small-Cap ETF returns = (Brazil Small-Cap ETF Closing Price – Brazil Small-Cap ETF Previous Price)/(Brazil Small-Cap ETF Previous Price)
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