Purpose Fund Corp Etf Market Value
| PYF-B Etf | CAD 21.15 0.12 0.57% |
| Symbol | Purpose |
Please note, there is a significant difference between Purpose Fund's value and its price as these two are different measures arrived at by different means. Investors typically determine if Purpose Fund is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Purpose Fund's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Purpose Fund '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 Fund'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 Fund.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Purpose Fund on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Purpose Fund Corp or generate 0.0% return on investment in Purpose Fund over 30 days. Purpose Fund is related to or competes with IShares SPTSX, IShares Core, IShares Core, BMO Aggregate, IShares Canadian, BMO SPTSX, and BMO SP. PURPOSE PREMIUM is traded on Toronto Stock Exchange in Canada. More
Purpose Fund 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 Fund'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 Fund Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.35) | |||
| Maximum Drawdown | 1.29 | |||
| Potential Upside | 0.5831 |
Purpose Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purpose Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purpose Fund's standard deviation. In reality, there are many statistical measures that can use Purpose Fund historical prices to predict the future Purpose Fund's volatility.| Risk Adjusted Performance | 0.1055 | |||
| Jensen Alpha | 0.0288 | |||
| Total Risk Alpha | (0.01) | |||
| Treynor Ratio | 1.31 |
Purpose Fund Corp Backtested Returns
Currently, Purpose Fund Corp is very steady. Purpose Fund Corp maintains Sharpe Ratio (i.e., Efficiency) of 0.13, which implies the entity had a 0.13% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Purpose Fund Corp, which you can use to evaluate the volatility of the etf. Please check Purpose Fund's Variance of 0.0644, risk adjusted performance of 0.1055, and Coefficient Of Variation of 608.34 to confirm if the risk estimate we provide is consistent with the expected return of 0.0351%. The etf holds a Beta of 0.0242, which implies not very significant fluctuations relative to the market. As returns on the market increase, Purpose Fund's returns are expected to increase less than the market. However, during the bear market, the loss of holding Purpose Fund is expected to be smaller as well.
Auto-correlation | -0.43 |
Modest reverse predictability
Purpose Fund Corp has modest reverse predictability. Overlapping area represents the amount of predictability between Purpose Fund time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Fund Corp price movement. The serial correlation of -0.43 indicates that just about 43.0% of current Purpose Fund price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.43 | |
| Spearman Rank Test | -0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Purpose Fund Corp lagged returns against current returns
Autocorrelation, which is Purpose Fund 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 Fund's etf expected returns. We can calculate the autocorrelation of Purpose Fund returns to help us make a trade decision. For example, suppose you find that Purpose Fund 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 Fund 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 Fund etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purpose Fund etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purpose Fund etf over time.
Current vs Lagged Prices |
| Timeline |
Purpose Fund Lagged Returns
When evaluating Purpose Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purpose Fund etf have on its future price. Purpose Fund 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 Fund autocorrelation shows the relationship between Purpose Fund etf current value and its past values and can show if there is a momentum factor associated with investing in Purpose Fund Corp.
Regressed Prices |
| Timeline |
Pair Trading with Purpose Fund
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 Fund 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 Fund will appreciate offsetting losses from the drop in the long position's value.Moving together with Purpose Etf
Moving against Purpose Etf
| 0.62 | TCLB | TD Canadian Long | PairCorr |
| 0.41 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.39 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to Purpose Fund 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 Fund 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 Fund - 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 Fund Corp to buy it.
The correlation of Purpose Fund 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 Fund moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Fund Corp 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 Fund 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 Fund 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 Fund security.