Desjardins Melodia Balanced Fund Market Value
| 0P0000YSHA | CAD 14.33 0.08 0.56% |
| Symbol | Desjardins |
Desjardins Melodia '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 Desjardins Melodia'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 Desjardins Melodia.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Desjardins Melodia on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Desjardins Melodia Balanced or generate 0.0% return on investment in Desjardins Melodia over 720 days. Desjardins Melodia is related to or competes with RBC Select, TD Comfort, Mawer Balanced, and . Its objective is to provide long-term capital appreciation and, to a lesser extent, generate an income return More
Desjardins Melodia 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 Desjardins Melodia'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 Desjardins Melodia Balanced upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3362 | |||
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 1.72 | |||
| Value At Risk | (0.43) | |||
| Potential Upside | 0.5984 |
Desjardins Melodia Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Desjardins Melodia's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Desjardins Melodia's standard deviation. In reality, there are many statistical measures that can use Desjardins Melodia historical prices to predict the future Desjardins Melodia's volatility.| Risk Adjusted Performance | 0.1901 | |||
| Jensen Alpha | 0.0554 | |||
| Total Risk Alpha | 0.0252 | |||
| Sortino Ratio | (0.12) | |||
| Treynor Ratio | 0.3543 |
Desjardins Melodia Backtested Returns
At this stage we consider Desjardins Fund to be very steady. Desjardins Melodia secures Sharpe Ratio (or Efficiency) of 0.26, which denotes the fund had a 0.26% return per unit of risk over the last 3 months. We have found twenty-six technical indicators for Desjardins Melodia Balanced, which you can use to evaluate the volatility of the entity. Please confirm Desjardins Melodia's Coefficient Of Variation of 380.59, mean deviation of 0.2851, and Standard Deviation of 0.3676 to check if the risk estimate we provide is consistent with the expected return of 0.0966%. The fund shows a Beta (market volatility) of 0.24, which means not very significant fluctuations relative to the market. As returns on the market increase, Desjardins Melodia's returns are expected to increase less than the market. However, during the bear market, the loss of holding Desjardins Melodia is expected to be smaller as well.
Auto-correlation | 0.11 |
Insignificant predictability
Desjardins Melodia Balanced has insignificant predictability. Overlapping area represents the amount of predictability between Desjardins Melodia time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd of December 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 Desjardins Melodia price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Desjardins Melodia price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 0.27 |
Desjardins Melodia lagged returns against current returns
Autocorrelation, which is Desjardins Melodia 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 Desjardins Melodia's fund expected returns. We can calculate the autocorrelation of Desjardins Melodia returns to help us make a trade decision. For example, suppose you find that Desjardins Melodia 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 |
Desjardins Melodia 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 Desjardins Melodia fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Desjardins Melodia fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Desjardins Melodia fund over time.
Current vs Lagged Prices |
| Timeline |
Desjardins Melodia Lagged Returns
When evaluating Desjardins Melodia's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Desjardins Melodia fund have on its future price. Desjardins Melodia 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, Desjardins Melodia autocorrelation shows the relationship between Desjardins Melodia fund current value and its past values and can show if there is a momentum factor associated with investing in Desjardins Melodia Balanced.
Regressed Prices |
| Timeline |
Pair Trading with Desjardins Melodia
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 Desjardins Melodia 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 Desjardins Melodia will appreciate offsetting losses from the drop in the long position's value.Moving together with Desjardins Fund
| 0.69 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.67 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
| 0.65 | 0P0000714D | Mawer Balanced | PairCorr |
| 0.69 | 0P00007069 | RBC Portefeuille | PairCorr |
The ability to find closely correlated positions to Desjardins Melodia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Desjardins Melodia 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 Desjardins Melodia - 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 Desjardins Melodia Balanced to buy it.
The correlation of Desjardins Melodia 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 Desjardins Melodia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desjardins Melodia 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 Desjardins Melodia 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 Desjardins Fund
Desjardins Melodia financial ratios help investors to determine whether Desjardins 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 Desjardins with respect to the benefits of owning Desjardins Melodia security.
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