Sustainable Innovation Health Fund Z Score
| SIH-UN Fund | CAD 13.42 0.08 0.59% |
Sustainable |
Sustainable Innovation Health Fund Z Score Analysis
Sustainable Innovation's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
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To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
Based on the company's disclosures, Sustainable Innovation Health has a Z Score of 0.0. This indicator is about the same for the average (which is currently at 0.0) family and about the same as Z Score (which currently averages 0.0) category. This indicator is about the same for all Canada funds average (which is currently at 0.0).
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About Sustainable Innovation Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Sustainable Innovation Health's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Sustainable Innovation using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Sustainable Innovation Health 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 Sustainable Innovation
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 Sustainable Innovation 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 Sustainable Innovation will appreciate offsetting losses from the drop in the long position's value.Moving together with Sustainable Fund
| 0.8 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.82 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.75 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
| 0.62 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
| 0.78 | 0P00012UCU | RBC Global Equity | PairCorr |
The ability to find closely correlated positions to Sustainable Innovation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sustainable Innovation 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 Sustainable Innovation - 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 Sustainable Innovation Health to buy it.
The correlation of Sustainable Innovation 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 Sustainable Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sustainable Innovation 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 Sustainable Innovation 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 Sustainable Fund
Sustainable Innovation financial ratios help investors to determine whether Sustainable 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 Sustainable with respect to the benefits of owning Sustainable Innovation security.
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