Symphony Floating Rate Fund Market Value
| SSF-UN Fund | CAD 7.04 0.01 0.14% |
| Symbol | Symphony |
Please note, there is a significant difference between Symphony Floating's value and its price as these two are different measures arrived at by different means. Investors typically determine if Symphony Floating is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Symphony Floating'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.
Symphony Floating '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 Symphony Floating'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 Symphony Floating.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in Symphony Floating on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding Symphony Floating Rate or generate 0.0% return on investment in Symphony Floating over 720 days. Symphony Floating is related to or competes with Blue Ribbon, Canadian High, MINT Income, and Brompton Lifeco. Symphony Floating Rate Senior Loan Fund is a closed-ended fixed income mutual fund launched and managed by Brompton Fund... More
Symphony Floating 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 Symphony Floating'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 Symphony Floating Rate upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5068 | |||
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 1.87 | |||
| Value At Risk | (0.71) | |||
| Potential Upside | 0.8621 |
Symphony Floating Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Symphony Floating's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Symphony Floating's standard deviation. In reality, there are many statistical measures that can use Symphony Floating historical prices to predict the future Symphony Floating's volatility.| Risk Adjusted Performance | 0.0927 | |||
| Jensen Alpha | 0.0462 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | 1.38 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Symphony Floating'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.
Symphony Floating Rate Backtested Returns
At this point, Symphony Floating is very steady. Symphony Floating Rate owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.09, which indicates the fund had a 0.09% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Symphony Floating Rate, which you can use to evaluate the volatility of the fund. Please validate Symphony Floating's Coefficient Of Variation of 770.68, risk adjusted performance of 0.0927, and Semi Deviation of 0.2765 to confirm if the risk estimate we provide is consistent with the expected return of 0.0415%. The entity has a beta of 0.0365, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Symphony Floating's returns are expected to increase less than the market. However, during the bear market, the loss of holding Symphony Floating is expected to be smaller as well.
Auto-correlation | 0.72 |
Good predictability
Symphony Floating Rate has good predictability. Overlapping area represents the amount of predictability between Symphony Floating time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 to 3rd 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 Symphony Floating Rate price movement. The serial correlation of 0.72 indicates that around 72.0% of current Symphony Floating price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Symphony Floating Rate lagged returns against current returns
Autocorrelation, which is Symphony Floating 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 Symphony Floating's fund expected returns. We can calculate the autocorrelation of Symphony Floating returns to help us make a trade decision. For example, suppose you find that Symphony Floating 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 |
Symphony Floating 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 Symphony Floating fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Symphony Floating fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Symphony Floating fund over time.
Current vs Lagged Prices |
| Timeline |
Symphony Floating Lagged Returns
When evaluating Symphony Floating's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Symphony Floating fund have on its future price. Symphony Floating 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, Symphony Floating autocorrelation shows the relationship between Symphony Floating fund current value and its past values and can show if there is a momentum factor associated with investing in Symphony Floating Rate.
Regressed Prices |
| Timeline |
Pair Trading with Symphony Floating
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 Symphony Floating 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 Symphony Floating will appreciate offsetting losses from the drop in the long position's value.Moving together with Symphony Fund
| 0.84 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.84 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.79 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
| 0.77 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
| 0.89 | 0P00012UCU | RBC Global Equity | PairCorr |
The ability to find closely correlated positions to Symphony Floating could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Symphony Floating 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 Symphony Floating - 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 Symphony Floating Rate to buy it.
The correlation of Symphony Floating 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 Symphony Floating moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Symphony Floating Rate 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 Symphony Floating 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 Symphony Fund
Symphony Floating financial ratios help investors to determine whether Symphony 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 Symphony with respect to the benefits of owning Symphony Floating security.
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