Tortoise North American Etf Current Ratio
| TPYP Etf | USD 36.30 0.12 0.33% |
Tortoise North American fundamentals help investors to digest information that contributes to Tortoise North's financial success or failures. It also enables traders to predict the movement of Tortoise Etf. The fundamental analysis module provides a way to measure Tortoise North'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 North etf.
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Tortoise North American ETF Current Ratio Analysis
Tortoise North's Current Ratio is calculated by dividing the Current Assets of a company by its Current Liabilities. It measures whether or not a company has enough cash or liquid assets to pay its current liability over the next fiscal year. The ratio is regarded as a test of liquidity for a company.
Typically, short-term creditors will prefer a high current ratio because it reduces their overall risk. However, investors may prefer a lower current ratio since they are more concerned about growing the business using assets of the company. Acceptable current ratios may vary from one sector to another, but the generally accepted benchmark is to have current assets at least as twice as current liabilities (i.e., Current Ration of 2 to 1).
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In accordance with the recently published financial statements, Tortoise North American has a Current Ratio of 0.0 times. This indicator is about the same for the Tortoise Capital Advisors, LLC average (which is currently at 0.0) family and about the same as Energy Limited Partnership (which currently averages 0.0) category. This indicator is about the same for all United States etfs average (which is currently at 0.0).
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Fund Asset Allocation for Tortoise North
The fund invests 99.79% of asset under management in tradable equity instruments, with the rest of investments concentrated in various types of exotic instruments.Asset allocation divides Tortoise North's investment portfolio among different asset categories to balance risk and reward by investing in a diversified mix of instruments that align with the investor's goals, risk tolerance, and time horizon. Mutual funds, which pool money from multiple investors to buy a diversified portfolio of securities, use asset allocation strategies to manage the risk and return of their portfolios.
Mutual funds allocate their assets by investing in a diversified portfolio of securities, such as stocks, bonds, cryptocurrencies and cash. The specific mix of these securities is determined by the fund's investment objective and strategy. For example, a stock mutual fund may invest primarily in equities, while a bond mutual fund may invest mainly in fixed-income securities. The fund's manager, responsible for making investment decisions, will buy and sell securities in the fund's portfolio as market conditions and the fund's objectives change.
Tortoise Fundamentals
| Price To Earning | 27.73 X | |||
| Price To Book | 1.86 X | |||
| Price To Sales | 1.49 X | |||
| Number Of Employees | 379 | |||
| Beta | 0.77 | |||
| Total Asset | 508.44 M | |||
| One Year Return | 47.10 % | |||
| Three Year Return | 25.00 % | |||
| Five Year Return | 16.50 % | |||
| Net Asset | 508.44 M | |||
| Last Dividend Paid | 0.24 | |||
| Equity Positions Weight | 99.79 % |
About Tortoise North Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Tortoise North American's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Tortoise North using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Tortoise North American 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 Tortoise North
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 North 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 North will appreciate offsetting losses from the drop in the long position's value.Moving together with Tortoise Etf
| 0.99 | EMLP | First Trust North | PairCorr |
| 0.9 | AMJ | JPMorgan | PairCorr |
| 0.86 | MLPA | Global X MLP | PairCorr |
| 1.0 | MLPX | Global X MLP | PairCorr |
Moving against Tortoise Etf
| 0.78 | TLT | iShares 20 Year Aggressive Push | PairCorr |
The ability to find closely correlated positions to Tortoise North 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 North 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 North - 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 North American to buy it.
The correlation of Tortoise North 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 North moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tortoise North American 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 North 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.Check out Tortoise North Piotroski F Score and Tortoise North Altman Z Score analysis. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
The market value of Tortoise North American is measured differently than its book value, which is the value of Tortoise that is recorded on the company's balance sheet. Investors also form their own opinion of Tortoise North's value that differs from its market value or its book value, called intrinsic value, which is Tortoise North's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Tortoise North's market value can be influenced by many factors that don't directly affect Tortoise North's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Tortoise North's value and its price as these two are different measures arrived at by different means. Investors typically determine if Tortoise North is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tortoise North's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.