Purpose Canadian Financial Statements From 2010 to 2024
| BNC Etf | CAD 29.52 0.06 0.20% |
Check Purpose Canadian financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Purpose Canadian's main balance sheet or income statement drivers, such as , as well as many indicators such as . Purpose financial statements analysis is a perfect complement when working with Purpose Canadian Valuation or Volatility modules.
Purpose |
Purpose Canadian Financial ETF Price To Book Analysis
Purpose Canadian's Price to Book (P/B) ratio is used to relate a company book value to its current market price. A high P/B ratio indicates that investors expect executives to generate more returns on their investments from a given set of assets. Book value is the accounting value of assets minus liabilities.
Current Purpose Canadian Price To Book | 53.75 X |
Most of Purpose Canadian's fundamental indicators, such as Price To Book, 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, Purpose Canadian Financial is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Price to Book ratio is mostly used in financial services industries where assets and liabilities are typically represented by dollars. Although low Price to Book ratio generally implies that the firm is undervalued, it is often a good indicator that the company may be in financial or managerial distress and should be investigated more carefully.
| Competition |
Based on the latest financial disclosure, Purpose Canadian Financial has a Price To Book of 53 times. This is much higher than that of the Purpose Investments Inc. family and significantly higher than that of the Financial Services Equity category. The price to book for all Canada etfs is notably lower than that of the firm.
Purpose Canadian Fin Fundamental Drivers Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Purpose Canadian's current stock value. Our valuation model uses many indicators to compare Purpose Canadian value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Purpose Canadian competition to find correlations between indicators driving Purpose Canadian's intrinsic value. More Info.Purpose Canadian Financial is the top ETF in price to book as compared to similar ETFs. It also is the top ETF in price to sales as compared to similar ETFs fabricating about 3.69 of Price To Sales per Price To Book. Comparative valuation analysis is a catch-all model that can be used if you cannot value Purpose Canadian by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Purpose Canadian's Etf. Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued.About Purpose Canadian Financial Statements
Purpose Canadian investors utilize fundamental indicators, such as revenue or net income, to predict how Purpose Etf might perform in the future. Analyzing these trends over time helps investors make informed market timing decisions. For further insights, please visit our fundamental analysis page.
The fund seeks to provide shareholders with long-term capital appreciation through investment in a portfolio of Canadian Banks and Canadian Insurance Companies and monthly distributions PURPOSE CDN is traded on Toronto Stock Exchange in Canada.
Pair Trading with Purpose 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 Purpose 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 Purpose Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Purpose Etf
| 0.97 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.99 | XFN | iShares SPTSX Capped | PairCorr |
| 0.86 | ZBK | BMO Equal Weight | PairCorr |
| 0.96 | HCA | Hamilton Canadian Bank | PairCorr |
| 0.85 | ZUB | BMO Equal Weight | PairCorr |
The ability to find closely correlated positions to Purpose 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 Purpose 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 Purpose 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 Purpose Canadian Financial to buy it.
The correlation of Purpose 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 Purpose Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Canadian Fin 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 Purpose 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 Purpose Etf
Purpose Canadian financial ratios help investors to determine whether Purpose 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 Purpose with respect to the benefits of owning Purpose Canadian security.