Phn Multi Style All Cap Fund Market Value

0P0000OXA6  CAD 28.03  0.00  0.00%   
PHN Multi's market value is the price at which a share of PHN Multi trades on a public exchange. It measures the collective expectations of PHN Multi Style All Cap investors about its performance. PHN Multi is selling at 28.03 as of the 22nd of November 2024; that is No Change since the beginning of the trading day. The fund's open price was 28.03.
With this module, you can estimate the performance of a buy and hold strategy of PHN Multi Style All Cap and determine expected loss or profit from investing in PHN Multi over a given investment horizon. Check out PHN Multi Correlation, PHN Multi Volatility and PHN Multi Alpha and Beta module to complement your research on PHN Multi.
Symbol

Please note, there is a significant difference between PHN Multi's value and its price as these two are different measures arrived at by different means. Investors typically determine if PHN Multi is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, PHN Multi'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.

PHN Multi 'What if' Analysis

In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to PHN Multi's fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of PHN Multi.
0.00
10/23/2024
No Change 0.00  0.0 
In 31 days
11/22/2024
0.00
If you would invest  0.00  in PHN Multi on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding PHN Multi Style All Cap or generate 0.0% return on investment in PHN Multi over 30 days. PHN Multi is related to or competes with PHN Canadian, Global Healthcare, and CI Global. The fundamental investment objective of the Fund is to provide long-term capital growth primarily through exposure to a ... More

PHN Multi Upside/Downside Indicators

Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure PHN Multi's fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess PHN Multi Style All Cap upside and downside potential and time the market with a certain degree of confidence.

PHN Multi Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for PHN Multi's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PHN Multi's standard deviation. In reality, there are many statistical measures that can use PHN Multi historical prices to predict the future PHN Multi's volatility.
Hype
Prediction
LowEstimatedHigh
27.2928.0328.77
Details
Intrinsic
Valuation
LowRealHigh
26.9927.7328.47
Details
Naive
Forecast
LowNextHigh
27.3828.1128.85
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
26.9727.8228.67
Details

PHN Multi Style Backtested Returns

As of now, PHN Fund is very steady. PHN Multi Style maintains Sharpe Ratio (i.e., Efficiency) of 0.17, which implies the entity had a 0.17% return per unit of volatility over the last 3 months. We have found twenty-four technical indicators for PHN Multi Style, which you can use to evaluate the volatility of the fund. Please check PHN Multi's semi deviation of 0.5231, and Risk Adjusted Performance of 0.1165 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. The fund holds a Beta of 0.0792, which implies not very significant fluctuations relative to the market. As returns on the market increase, PHN Multi's returns are expected to increase less than the market. However, during the bear market, the loss of holding PHN Multi is expected to be smaller as well.

Auto-correlation

    
  0.88  

Very good predictability

PHN Multi Style All Cap has very good predictability. Overlapping area represents the amount of predictability between PHN Multi time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of PHN Multi Style price movement. The serial correlation of 0.88 indicates that approximately 88.0% of current PHN Multi price fluctuation can be explain by its past prices.
Correlation Coefficient0.88
Spearman Rank Test0.81
Residual Average0.0
Price Variance0.03

PHN Multi Style lagged returns against current returns

Autocorrelation, which is PHN Multi fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting PHN Multi's fund expected returns. We can calculate the autocorrelation of PHN Multi returns to help us make a trade decision. For example, suppose you find that PHN Multi has exhibited high autocorrelation historically, and you observe that the fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
   Current and Lagged Values   
       Timeline  

PHN Multi regressed lagged prices vs. current prices

Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If PHN Multi fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PHN Multi fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PHN Multi fund over time.
   Current vs Lagged Prices   
       Timeline  

PHN Multi Lagged Returns

When evaluating PHN Multi's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PHN Multi fund have on its future price. PHN Multi autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, PHN Multi autocorrelation shows the relationship between PHN Multi fund current value and its past values and can show if there is a momentum factor associated with investing in PHN Multi Style All Cap.
   Regressed Prices   
       Timeline  

Pair Trading with PHN Multi

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 PHN Multi 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 PHN Multi will appreciate offsetting losses from the drop in the long position's value.

Moving together with PHN Fund

  0.980P000077P2 RBC DividendPairCorr
  0.940P0000716B Mawer Equity APairCorr
  0.950P000071W8 TD Index FundPairCorr
  0.940P0000706A RBC Select BalancedPairCorr
The ability to find closely correlated positions to PHN Multi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PHN Multi 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 PHN Multi - 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 PHN Multi Style All Cap to buy it.
The correlation of PHN Multi 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 PHN Multi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PHN Multi Style 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 PHN Multi 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in PHN Fund

PHN Multi financial ratios help investors to determine whether PHN 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 PHN with respect to the benefits of owning PHN Multi security.
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