Td Dividend Growth Fund Market Value
| 0P00016N6E | CAD 19.16 0.05 0.26% |
| Symbol | 0P00016N6E |
TD Dividend '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 TD Dividend'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 TD Dividend.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in TD Dividend on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding TD Dividend Growth or generate 0.0% return on investment in TD Dividend over 30 days. TD Dividend is related to or competes with IShares Canadian, PHN Multi, Altagas Cum, EcoSynthetix, and European Residential. The fundamental investment objective is to provide a high level of after-tax income and steady growth by investing prima... More
TD Dividend 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 TD Dividend'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 TD Dividend Growth upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4382 | |||
| Information Ratio | 0.0423 | |||
| Maximum Drawdown | 2.62 | |||
| Value At Risk | (0.59) | |||
| Potential Upside | 1.11 |
TD Dividend Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TD Dividend's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TD Dividend's standard deviation. In reality, there are many statistical measures that can use TD Dividend historical prices to predict the future TD Dividend's volatility.| Risk Adjusted Performance | 0.214 | |||
| Jensen Alpha | 0.113 | |||
| Total Risk Alpha | 0.0586 | |||
| Sortino Ratio | 0.0522 | |||
| Treynor Ratio | 0.5658 |
TD Dividend Growth Backtested Returns
At this point, TD Dividend is very steady. TD Dividend Growth retains Efficiency (Sharpe Ratio) of 0.29, which indicates the fund had a 0.29% return per unit of price deviation over the last 3 months. We have found twenty-six technical indicators for TD Dividend, which you can use to evaluate the volatility of the fund. Please validate TD Dividend's Mean Deviation of 0.4317, risk adjusted performance of 0.214, and Coefficient Of Variation of 351.42 to confirm if the risk estimate we provide is consistent with the expected return of 0.16%. The entity owns a Beta (Systematic Risk) of 0.25, which indicates not very significant fluctuations relative to the market. As returns on the market increase, TD Dividend's returns are expected to increase less than the market. However, during the bear market, the loss of holding TD Dividend is expected to be smaller as well.
Auto-correlation | 0.69 |
Good predictability
TD Dividend Growth has good predictability. Overlapping area represents the amount of predictability between TD Dividend time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 TD Dividend Growth price movement. The serial correlation of 0.69 indicates that around 69.0% of current TD Dividend price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
TD Dividend Growth lagged returns against current returns
Autocorrelation, which is TD Dividend 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 TD Dividend's fund expected returns. We can calculate the autocorrelation of TD Dividend returns to help us make a trade decision. For example, suppose you find that TD Dividend 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 |
TD Dividend 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 TD Dividend fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TD Dividend fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TD Dividend fund over time.
Current vs Lagged Prices |
| Timeline |
TD Dividend Lagged Returns
When evaluating TD Dividend's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TD Dividend fund have on its future price. TD Dividend 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, TD Dividend autocorrelation shows the relationship between TD Dividend fund current value and its past values and can show if there is a momentum factor associated with investing in TD Dividend Growth.
Regressed Prices |
| Timeline |
Pair Trading with TD Dividend
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 TD Dividend 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 TD Dividend will appreciate offsetting losses from the drop in the long position's value.Moving together with 0P00016N6E Fund
| 0.91 | 0P000070HA | CI Global Alpha | PairCorr |
| 0.86 | 0P00007138 | RBC sciences biologiques | PairCorr |
| 0.95 | 0P00012UCU | RBC Global Equity | PairCorr |
| 0.91 | 0P0000706A | RBC Select Balanced | PairCorr |
The ability to find closely correlated positions to TD Dividend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TD Dividend 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 TD Dividend - 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 TD Dividend Growth to buy it.
The correlation of TD Dividend 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 TD Dividend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Dividend Growth 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 TD Dividend 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 0P00016N6E Fund
TD Dividend financial ratios help investors to determine whether 0P00016N6E 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 0P00016N6E with respect to the benefits of owning TD Dividend security.
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