Purpose High Interest Etf Market Value
| PSA Etf | CAD 50.07 0.01 0.02% |
| Symbol | Purpose |
Purpose High '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 High'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 High.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Purpose High on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Purpose High Interest or generate 0.0% return on investment in Purpose High over 30 days. Purpose High is related to or competes with CI High, GLOBAL X, and IShares Premium. The fund seeks to maximize monthly income for unitholders while preserving capital and liquidity by investing in high in... More
Purpose High 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 High'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 High Interest upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2325 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 6.73 | |||
| Value At Risk | (0.02) | |||
| Potential Upside | 0.04 |
Purpose High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purpose High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purpose High's standard deviation. In reality, there are many statistical measures that can use Purpose High historical prices to predict the future Purpose High's volatility.| Risk Adjusted Performance | 0.089 | |||
| Jensen Alpha | 0.0746 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.12) | |||
| Treynor Ratio | 0.8258 |
Purpose High Interest Backtested Returns
Purpose High Interest maintains Sharpe Ratio (i.e., Efficiency) of -0.0179, which implies the entity had a -0.0179% return per unit of risk over the last 3 months. Purpose High Interest exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Purpose High's Standard Deviation of 0.7924, risk adjusted performance of 0.089, and Downside Deviation of 0.2325 to confirm the risk estimate we provide. The etf holds a Beta of 0.1, which implies not very significant fluctuations relative to the market. As returns on the market increase, Purpose High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Purpose High is expected to be smaller as well.
Auto-correlation | 0.93 |
Excellent predictability
Purpose High Interest has excellent predictability. Overlapping area represents the amount of predictability between Purpose High time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 Purpose High Interest price movement. The serial correlation of 0.93 indicates that approximately 93.0% of current Purpose High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.93 | |
| Spearman Rank Test | 0.98 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Purpose High Interest lagged returns against current returns
Autocorrelation, which is Purpose High 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 High's etf expected returns. We can calculate the autocorrelation of Purpose High returns to help us make a trade decision. For example, suppose you find that Purpose High 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 High 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 High etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purpose High etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purpose High etf over time.
Current vs Lagged Prices |
| Timeline |
Purpose High Lagged Returns
When evaluating Purpose High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purpose High etf have on its future price. Purpose High 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 High autocorrelation shows the relationship between Purpose High etf current value and its past values and can show if there is a momentum factor associated with investing in Purpose High Interest.
Regressed Prices |
| Timeline |
Pair Trading with Purpose High
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 High 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 High will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Purpose High 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 High 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 High - 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 High Interest to buy it.
The correlation of Purpose High 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 High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose High Interest 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 High 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 High 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 High security.