Tortoise Energy Independence Fund Beta
| NDP Fund | USD 44.74 0.05 0.11% |
Tortoise Energy Independence fundamentals help investors to digest information that contributes to Tortoise Energy's financial success or failures. It also enables traders to predict the movement of Tortoise Fund. The fundamental analysis module provides a way to measure Tortoise Energy's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Tortoise Energy fund.
Tortoise |
Tortoise Energy Independence Fund Beta Analysis
Tortoise Energy's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Tortoise Energy Beta | 2.27 |
Most of Tortoise Energy's fundamental indicators, such as Beta, 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, Tortoise Energy Independence is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Tortoise Energy Independence has a Beta of 2.27. This is much higher than that of the Financial Services family and significantly higher than that of the Asset Management category. The beta for all United States funds is notably lower than that of the firm.
Tortoise Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Tortoise Energy's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the funds which would be a good addition to a portfolio. Peer analysis of Tortoise Energy could also be used in its relative valuation, which is a method of valuing Tortoise Energy by comparing valuation metrics of similar companies.Tortoise Energy is currently under evaluation in beta among similar funds.
As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Tortoise Energy will likely underperform.
Tortoise Fundamentals
| Shares Outstanding | 1.85 M | |||
| Shares Owned By Insiders | 0.32 % | |||
| Shares Owned By Institutions | 47.21 % | |||
| Number Of Shares Shorted | 24.13 K | |||
| Price To Earning | 2.04 X | |||
| Short Ratio | 1.17 X | |||
| Earnings Per Share | 17.20 X | |||
| Number Of Employees | 17 | |||
| Beta | 2.27 | |||
| Market Capitalization | 16.98 M | |||
| Annual Yield | 0.14 % | |||
| Year To Date Return | 31.97 % | |||
| One Year Return | 31.14 % | |||
| Three Year Return | 25.46 % | |||
| Five Year Return | 9.27 % | |||
| Last Dividend Paid | 2.24 |
About Tortoise Energy Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Tortoise Energy Independence's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Tortoise Energy using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Tortoise Energy Independence based on its fundamental data. In general, a quantitative approach, as applied to this fund, 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 Tortoise Energy
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 Tortoise Energy 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 Tortoise Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Tortoise Fund
Moving against Tortoise Fund
| 0.65 | VVR | Invesco Senior Income | PairCorr |
| 0.45 | FAX | Aberdeen Asia Pacific | PairCorr |
| 0.36 | DNP | Dnp Select Income | PairCorr |
The ability to find closely correlated positions to Tortoise Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tortoise Energy 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 Tortoise Energy - 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 Tortoise Energy Independence to buy it.
The correlation of Tortoise Energy 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 Tortoise Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tortoise Energy Inde 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 Tortoise Energy 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 Tortoise Fund
Tortoise Energy financial ratios help investors to determine whether Tortoise Fund 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 Tortoise with respect to the benefits of owning Tortoise Energy security.
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |