Sustainable Innovation Health Fund Market Value
| SIH-UN Fund | CAD 13.50 0.13 0.97% |
| Symbol | Sustainable |
Please note, there is a significant difference between Sustainable Innovation's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sustainable Innovation is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sustainable Innovation'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.
Sustainable Innovation '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 Sustainable Innovation'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 Sustainable Innovation.
| 08/19/2023 |
| 12/11/2024 |
If you would invest 0.00 in Sustainable Innovation on August 19, 2023 and sell it all today you would earn a total of 0.00 from holding Sustainable Innovation Health or generate 0.0% return on investment in Sustainable Innovation over 480 days. Sustainable Innovation is related to or competes with Global Healthcare, CI Global, and RBC Canadian. More
Sustainable Innovation 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 Sustainable Innovation'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 Sustainable Innovation Health upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9733 | |||
| Information Ratio | 0.0065 | |||
| Maximum Drawdown | 5.04 | |||
| Value At Risk | (1.01) | |||
| Potential Upside | 1.77 |
Sustainable Innovation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sustainable Innovation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sustainable Innovation's standard deviation. In reality, there are many statistical measures that can use Sustainable Innovation historical prices to predict the future Sustainable Innovation's volatility.| Risk Adjusted Performance | 0.1134 | |||
| Jensen Alpha | 0.127 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.0056 | |||
| Treynor Ratio | (1.92) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Sustainable Innovation'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.
Sustainable Innovation Backtested Returns
At this point, Sustainable Innovation is very steady. Sustainable Innovation owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.16, which indicates the fund had a 0.16% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Sustainable Innovation Health, which you can use to evaluate the volatility of the fund. Please validate Sustainable Innovation's Coefficient Of Variation of 644.58, semi deviation of 0.4125, and Risk Adjusted Performance of 0.1134 to confirm if the risk estimate we provide is consistent with the expected return of 0.14%. The entity has a beta of -0.0623, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Sustainable Innovation are expected to decrease at a much lower rate. During the bear market, Sustainable Innovation is likely to outperform the market.
Auto-correlation | 0.73 |
Good predictability
Sustainable Innovation Health has good predictability. Overlapping area represents the amount of predictability between Sustainable Innovation time series from 19th of August 2023 to 15th of April 2024 and 15th of April 2024 to 11th 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 Sustainable Innovation price movement. The serial correlation of 0.73 indicates that around 73.0% of current Sustainable Innovation price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.73 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 0.26 |
Sustainable Innovation lagged returns against current returns
Autocorrelation, which is Sustainable Innovation 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 Sustainable Innovation's fund expected returns. We can calculate the autocorrelation of Sustainable Innovation returns to help us make a trade decision. For example, suppose you find that Sustainable Innovation 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 |
Sustainable Innovation 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 Sustainable Innovation fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sustainable Innovation fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sustainable Innovation fund over time.
Current vs Lagged Prices |
| Timeline |
Sustainable Innovation Lagged Returns
When evaluating Sustainable Innovation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sustainable Innovation fund have on its future price. Sustainable Innovation 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, Sustainable Innovation autocorrelation shows the relationship between Sustainable Innovation fund current value and its past values and can show if there is a momentum factor associated with investing in Sustainable Innovation Health.
Regressed Prices |
| Timeline |
Pair Trading with Sustainable Innovation
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 Sustainable Innovation 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 Sustainable Innovation will appreciate offsetting losses from the drop in the long position's value.Moving together with Sustainable Fund
| 0.81 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.83 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.78 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
| 0.64 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
| 0.79 | 0P00012UCU | RBC Global Equity | PairCorr |
The ability to find closely correlated positions to Sustainable Innovation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sustainable Innovation 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 Sustainable Innovation - 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 Sustainable Innovation Health to buy it.
The correlation of Sustainable Innovation 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 Sustainable Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sustainable Innovation 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 Sustainable Innovation 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 Sustainable Fund
Sustainable Innovation financial ratios help investors to determine whether Sustainable 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 Sustainable with respect to the benefits of owning Sustainable Innovation security.
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