Tortoise Energy Independence Fund Market Value
| NDP Fund | USD 44.15 0.59 1.32% |
| Symbol | Tortoise |
Tortoise Energy '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 Tortoise Energy'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 Tortoise Energy.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Tortoise Energy on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Tortoise Energy Independence or generate 0.0% return on investment in Tortoise Energy over 30 days. Tortoise Energy is related to or competes with Tortoise Mlp, Flow Capital, Invesco High, MFS Investment, Eaton Vance, Aberdeen Japan, and Aberdeen Global. Tortoise Energy Independence Fund, Inc. is a close ended equity mutual fund launched and managed by Tortoise Capital Adv... More
Tortoise Energy 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 Tortoise Energy'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 Tortoise Energy Independence upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.2 | |||
| Information Ratio | 0.0905 | |||
| Maximum Drawdown | 5.13 | |||
| Value At Risk | (1.81) | |||
| Potential Upside | 2.15 |
Tortoise Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tortoise Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tortoise Energy's standard deviation. In reality, there are many statistical measures that can use Tortoise Energy historical prices to predict the future Tortoise Energy's volatility.| Risk Adjusted Performance | 0.1533 | |||
| Jensen Alpha | 0.1529 | |||
| Total Risk Alpha | 0.0395 | |||
| Sortino Ratio | 0.092 | |||
| Treynor Ratio | 0.356 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Tortoise Energy's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Tortoise Energy Inde Backtested Returns
Tortoise Energy appears to be very steady, given 3 months investment horizon. Tortoise Energy Inde owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.22, which indicates the fund had a 0.22% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Tortoise Energy Independence, which you can use to evaluate the volatility of the fund. Please review Tortoise Energy's Semi Deviation of 0.9287, risk adjusted performance of 0.1533, and Coefficient Of Variation of 510.93 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 0.64, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tortoise Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tortoise Energy is expected to be smaller as well.
Auto-correlation | 0.95 |
Excellent predictability
Tortoise Energy Independence has excellent predictability. Overlapping area represents the amount of predictability between Tortoise Energy 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 Tortoise Energy Inde price movement. The serial correlation of 0.95 indicates that approximately 95.0% of current Tortoise Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.95 | |
| Spearman Rank Test | 0.9 | |
| Residual Average | 0.0 | |
| Price Variance | 1.0 |
Tortoise Energy Inde lagged returns against current returns
Autocorrelation, which is Tortoise Energy 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 Tortoise Energy's fund expected returns. We can calculate the autocorrelation of Tortoise Energy returns to help us make a trade decision. For example, suppose you find that Tortoise Energy 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 |
Tortoise Energy 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 Tortoise Energy fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tortoise Energy fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tortoise Energy fund over time.
Current vs Lagged Prices |
| Timeline |
Tortoise Energy Lagged Returns
When evaluating Tortoise Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tortoise Energy fund have on its future price. Tortoise Energy 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, Tortoise Energy autocorrelation shows the relationship between Tortoise Energy fund current value and its past values and can show if there is a momentum factor associated with investing in Tortoise Energy Independence.
Regressed Prices |
| Timeline |
Pair Trading with Tortoise Energy
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 Energy 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 Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Tortoise Fund
Moving against Tortoise Fund
| 0.64 | VVR | Invesco Senior Income | PairCorr |
| 0.51 | FAX | Aberdeen Asia Pacific | PairCorr |
| 0.41 | DNP | Dnp Select Income | PairCorr |
The ability to find closely correlated positions to Tortoise Energy 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 Energy 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 Energy - 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 Energy Independence to buy it.
The correlation of Tortoise Energy 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 Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tortoise Energy Inde 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 Energy 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 Tortoise Fund
Tortoise Energy financial ratios help investors to determine whether Tortoise 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 Tortoise with respect to the benefits of owning Tortoise Energy security.
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
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