Harvest Healthcare Leaders Etf Current Valuation
| HHLE Etf | 9.98 0.09 0.89% |
Valuation analysis of Harvest Healthcare helps investors to measure Harvest Healthcare's intrinsic value by examining its available valuation indicators, including the cash flow records, the balance sheet account changes and income statement patterns.
Fairly Valued
Today
Please note that Harvest Healthcare's price fluctuation is very steady at this time. Calculation of the real value of Harvest Healthcare is based on 3 months time horizon. Increasing Harvest Healthcare's time horizon generally increases the accuracy of value calculation and significantly improves the predictive power of the methodology used.
Since Harvest Healthcare is currently traded on the exchange, buyers and sellers on that exchange determine the market value of Harvest Etf. However, Harvest Healthcare's intrinsic value may or may not be the same as its current market price, in which case there is an opportunity to profit from the mispricing, assuming the market price will eventually merge with its intrinsic value. | Historical | Market 9.98 | Real 10.09 | Hype 9.98 | Naive 9.9 |
The intrinsic value of Harvest Healthcare's stock can be calculated using various methods such as discounted cash flow analysis, price-to-earnings ratio, or price-to-book ratio. That value may differ from its current market price, which is determined by supply and demand factors such as investor sentiment, market trends, news, and other external factors that may influence Harvest Healthcare's stock price. It is important to note that the real value of any stock may change over time based on changes in the company's performance.
Estimating the potential upside or downside of Harvest Healthcare Leaders helps investors to forecast how Harvest etf's addition to their portfolios will impact the overall performance. We also use other valuation drivers to help us estimate the true value of Harvest Healthcare more accurately as focusing exclusively on Harvest Healthcare's fundamentals will not take into account other important factors: Harvest Healthcare Leaders ETF Current Valuation Analysis
Harvest Healthcare's Enterprise Value is a firm valuation proxy that approximates the current market value of a company. It is typically used to determine the takeover or merger price of a firm. Unlike Market Cap, this measure takes into account the entire liquid asset, outstanding debt, and exotic equity instruments that the company has on its balance sheet. When a takeover occurs, the parent company will have to assume the target company's liabilities but will take possession of all cash and cash equivalents.
Enterprise Value can be a useful tool to compare companies with different capital structures. Long term liability and current cash or cash equivalents can have a huge impact on market valuation of a given company.
| Competition |
In accordance with the recently published financial statements, Harvest Healthcare Leaders has a Current Valuation of 0.0. This indicator is about the same for the average (which is currently at 0.0) family and about the same as Alternative Equity Focused (which currently averages 0.0) category. This indicator is about the same for all Canada etfs average (which is currently at 0.0).
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About Harvest Healthcare Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Harvest Healthcare Leaders's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Harvest Healthcare using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Harvest Healthcare Leaders 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 Harvest Healthcare
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 Harvest Healthcare 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 Harvest Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving against Harvest Etf
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| 0.87 | PHE | Purpose Tactical Hedged | PairCorr |
| 0.84 | PFLS | Picton Mahoney Fortified | PairCorr |
The ability to find closely correlated positions to Harvest Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harvest Healthcare 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 Harvest Healthcare - 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 Harvest Healthcare Leaders to buy it.
The correlation of Harvest Healthcare 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 Harvest Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Healthcare 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 Harvest Healthcare 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 Harvest Etf
Harvest Healthcare financial ratios help investors to determine whether Harvest 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 Harvest with respect to the benefits of owning Harvest Healthcare security.