Picton Mahoney Fortified Etf Market Value
| PFLS Etf | CAD 18.88 0.05 0.27% |
| Symbol | Picton |
Picton Mahoney '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 Picton Mahoney'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 Picton Mahoney.
| 12/23/2022 |
| 12/12/2024 |
If you would invest 0.00 in Picton Mahoney on December 23, 2022 and sell it all today you would earn a total of 0.00 from holding Picton Mahoney Fortified or generate 0.0% return on investment in Picton Mahoney over 720 days. Picton Mahoney is related to or competes with Picton Mahoney, and NBI Liquid. PICTON MAHONEY is traded on Toronto Stock Exchange in Canada. More
Picton Mahoney 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 Picton Mahoney'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 Picton Mahoney Fortified upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7616 | |||
| Information Ratio | 0.0025 | |||
| Maximum Drawdown | 4.22 | |||
| Value At Risk | (1.09) | |||
| Potential Upside | 1.21 |
Picton Mahoney Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Picton Mahoney's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Picton Mahoney's standard deviation. In reality, there are many statistical measures that can use Picton Mahoney historical prices to predict the future Picton Mahoney's volatility.| Risk Adjusted Performance | 0.1285 | |||
| Jensen Alpha | 0.1093 | |||
| Total Risk Alpha | 0.004 | |||
| Sortino Ratio | 0.0023 | |||
| Treynor Ratio | 1.93 |
Picton Mahoney Fortified Backtested Returns
As of now, Picton Etf is very steady. Picton Mahoney Fortified maintains Sharpe Ratio (i.e., Efficiency) of 0.16, which implies the entity had a 0.16% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Picton Mahoney Fortified, which you can use to evaluate the volatility of the etf. Please check Picton Mahoney's Risk Adjusted Performance of 0.1285, coefficient of variation of 561.13, and Semi Deviation of 0.4693 to confirm if the risk estimate we provide is consistent with the expected return of 0.11%. The etf holds a Beta of 0.0602, which implies not very significant fluctuations relative to the market. As returns on the market increase, Picton Mahoney's returns are expected to increase less than the market. However, during the bear market, the loss of holding Picton Mahoney is expected to be smaller as well.
Auto-correlation | 0.66 |
Good predictability
Picton Mahoney Fortified has good predictability. Overlapping area represents the amount of predictability between Picton Mahoney time series from 23rd of December 2022 to 18th of December 2023 and 18th of December 2023 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 Picton Mahoney Fortified price movement. The serial correlation of 0.66 indicates that around 66.0% of current Picton Mahoney price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 0.85 |
Picton Mahoney Fortified lagged returns against current returns
Autocorrelation, which is Picton Mahoney 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 Picton Mahoney's etf expected returns. We can calculate the autocorrelation of Picton Mahoney returns to help us make a trade decision. For example, suppose you find that Picton Mahoney 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 |
Picton Mahoney 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 Picton Mahoney etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Picton Mahoney etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Picton Mahoney etf over time.
Current vs Lagged Prices |
| Timeline |
Picton Mahoney Lagged Returns
When evaluating Picton Mahoney's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Picton Mahoney etf have on its future price. Picton Mahoney 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, Picton Mahoney autocorrelation shows the relationship between Picton Mahoney etf current value and its past values and can show if there is a momentum factor associated with investing in Picton Mahoney Fortified.
Regressed Prices |
| Timeline |
Pair Trading with Picton Mahoney
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 Picton Mahoney 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 Picton Mahoney will appreciate offsetting losses from the drop in the long position's value.Moving together with Picton Etf
| 0.94 | HCAL | Hamilton Enhanced | PairCorr |
| 0.88 | HAC | Global X Seasonal | PairCorr |
| 0.64 | ARB | Accelerate Arbitrage | PairCorr |
| 0.89 | PHE | Purpose Tactical Hedged | PairCorr |
Moving against Picton Etf
| 0.96 | HXD | BetaPro SPTSX 60 | PairCorr |
| 0.92 | HIU | BetaPro SP 500 | PairCorr |
| 0.9 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.7 | HED | BetaPro SPTSX Capped | PairCorr |
The ability to find closely correlated positions to Picton Mahoney could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Picton Mahoney 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 Picton Mahoney - 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 Picton Mahoney Fortified to buy it.
The correlation of Picton Mahoney 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 Picton Mahoney moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Picton Mahoney Fortified 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 Picton Mahoney 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 Picton Etf
Picton Mahoney financial ratios help investors to determine whether Picton 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 Picton with respect to the benefits of owning Picton Mahoney security.