Purpose Total Return Etf Market Value
| PBD Etf | CAD 16.64 0.02 0.12% |
| Symbol | Purpose |
Purpose Total '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 Purpose Total's etf 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 Purpose Total.
| 11/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Purpose Total on November 29, 2023 and sell it all today you would earn a total of 0.00 from holding Purpose Total Return or generate 0.0% return on investment in Purpose Total over 360 days. Purpose Total is related to or competes with Purpose Monthly, Purpose Core, Purpose Tactical, Purpose Best, and Purpose Diversified. The Purpose Total Return Bond Fund seeks to achieve a positive total return in diverse market environments over time by ... More
Purpose Total 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 Purpose Total's etf 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 Purpose Total Return upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2448 | |||
| Information Ratio | (0.47) | |||
| Maximum Drawdown | 1.21 | |||
| Value At Risk | (0.36) | |||
| Potential Upside | 0.3623 |
Purpose Total Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purpose Total's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purpose Total's standard deviation. In reality, there are many statistical measures that can use Purpose Total historical prices to predict the future Purpose Total's volatility.| Risk Adjusted Performance | 0.0084 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.50) | |||
| Treynor Ratio | (0.01) |
Purpose Total Return Backtested Returns
As of now, Purpose Etf is very steady. Purpose Total Return maintains Sharpe Ratio (i.e., Efficiency) of 0.0086, which implies the entity had a 0.0086% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Purpose Total Return, which you can use to evaluate the volatility of the etf. Please check Purpose Total's Risk Adjusted Performance of 0.0084, coefficient of variation of 2730.57, and Semi Deviation of 0.1971 to confirm if the risk estimate we provide is consistent with the expected return of 0.0022%. The etf holds a Beta of 0.062, which implies not very significant fluctuations relative to the market. As returns on the market increase, Purpose Total's returns are expected to increase less than the market. However, during the bear market, the loss of holding Purpose Total is expected to be smaller as well.
Auto-correlation | 0.62 |
Good predictability
Purpose Total Return has good predictability. Overlapping area represents the amount of predictability between Purpose Total time series from 29th of November 2023 to 27th of May 2024 and 27th of May 2024 to 23rd 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 Purpose Total Return price movement. The serial correlation of 0.62 indicates that roughly 62.0% of current Purpose Total price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.62 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Purpose Total Return lagged returns against current returns
Autocorrelation, which is Purpose Total etf'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 Purpose Total's etf expected returns. We can calculate the autocorrelation of Purpose Total returns to help us make a trade decision. For example, suppose you find that Purpose Total has exhibited high autocorrelation historically, and you observe that the etf 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 |
Purpose Total 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 Purpose Total etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purpose Total etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purpose Total etf over time.
Current vs Lagged Prices |
| Timeline |
Purpose Total Lagged Returns
When evaluating Purpose Total's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purpose Total etf have on its future price. Purpose Total 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, Purpose Total autocorrelation shows the relationship between Purpose Total etf current value and its past values and can show if there is a momentum factor associated with investing in Purpose Total Return.
Regressed Prices |
| Timeline |
Pair Trading with Purpose Total
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 Purpose Total 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 Purpose Total will appreciate offsetting losses from the drop in the long position's value.Moving together with Purpose Etf
The ability to find closely correlated positions to Purpose Total could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Purpose Total 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 Purpose Total - 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 Purpose Total Return to buy it.
The correlation of Purpose Total 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 Purpose Total moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Total Return 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 Purpose Total 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 Purpose Etf
Purpose Total financial ratios help investors to determine whether Purpose Etf 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 Purpose with respect to the benefits of owning Purpose Total security.