Global Healthcare Income Fund Market Value
| HIG Fund | CAD 8.19 0.08 0.99% |
| Symbol | Global |
Global Healthcare '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 Global Healthcare'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 Global Healthcare.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Global Healthcare on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Global Healthcare Income or generate 0.0% return on investment in Global Healthcare over 90 days. Global Healthcare is related to or competes with Tech Leaders, BetaPro SPTSX, Brompton Global, Global X, and BetaPro Gold. The investment objectives of HIG are to provide holders of Units of HIG with stable monthly cash distributions the oppor... More
Global Healthcare 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 Global Healthcare'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 Global Healthcare Income upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 4.86 | |||
| Value At Risk | (1.92) | |||
| Potential Upside | 1.27 |
Global Healthcare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Global Healthcare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Global Healthcare's standard deviation. In reality, there are many statistical measures that can use Global Healthcare historical prices to predict the future Global Healthcare's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.36) |
Global Healthcare Income Backtested Returns
Global Healthcare Income holds Efficiency (Sharpe) Ratio of -0.14, which attests that the entity had a -0.14% return per unit of risk over the last 3 months. Global Healthcare Income exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Global Healthcare's Standard Deviation of 0.9329, risk adjusted performance of (0.07), and Market Risk Adjusted Performance of (0.35) to validate the risk estimate we provide. The fund retains a Market Volatility (i.e., Beta) of 0.25, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Global Healthcare's returns are expected to increase less than the market. However, during the bear market, the loss of holding Global Healthcare is expected to be smaller as well.
Auto-correlation | 0.65 |
Good predictability
Global Healthcare Income has good predictability. Overlapping area represents the amount of predictability between Global Healthcare time series from 28th of August 2024 to 12th of October 2024 and 12th of October 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 Global Healthcare Income price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Global Healthcare price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Global Healthcare Income lagged returns against current returns
Autocorrelation, which is Global Healthcare 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 Global Healthcare's fund expected returns. We can calculate the autocorrelation of Global Healthcare returns to help us make a trade decision. For example, suppose you find that Global Healthcare 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 |
Global Healthcare 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 Global Healthcare fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Global Healthcare fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Global Healthcare fund over time.
Current vs Lagged Prices |
| Timeline |
Global Healthcare Lagged Returns
When evaluating Global Healthcare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Global Healthcare fund have on its future price. Global Healthcare 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, Global Healthcare autocorrelation shows the relationship between Global Healthcare fund current value and its past values and can show if there is a momentum factor associated with investing in Global Healthcare Income.
Regressed Prices |
| Timeline |
Pair Trading with Global Healthcare
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 Global Healthcare 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 Global Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving against Global Fund
| 0.84 | 0P00012UCU | RBC Global Equity | PairCorr |
| 0.84 | 0P0000OXA6 | PHN Multi Style | PairCorr |
| 0.78 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.76 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.64 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
The ability to find closely correlated positions to Global Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global Healthcare 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 Global Healthcare - 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 Global Healthcare Income to buy it.
The correlation of Global Healthcare 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 Global Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global Healthcare Income 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 Global Healthcare 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 Global Fund
Global Healthcare financial ratios help investors to determine whether Global 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 Global with respect to the benefits of owning Global Healthcare security.
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