Purpose Enhanced Beta vs. One Year Return
| PAYF Etf | CAD 19.07 0.08 0.42% |
For Purpose Enhanced profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Purpose Enhanced to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well Purpose Enhanced Premium utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between Purpose Enhanced's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of Purpose Enhanced Premium over time as well as its relative position and ranking within its peers.
Purpose |
Purpose Enhanced Premium One Year Return vs. Beta Fundamental Analysis
Comparative valuation techniques use various fundamental indicators to help in determining Purpose Enhanced's current stock value. Our valuation model uses many indicators to compare Purpose Enhanced value to that of its competitors to determine the firm's financial worth. Purpose Enhanced Premium is rated number one ETF in beta as compared to similar ETFs. It also is rated number one ETF in one year return as compared to similar ETFs reporting about 36.75 of One Year Return per Beta. Comparative valuation analysis is a catch-all model that can be used if you cannot value Purpose Enhanced by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Purpose Enhanced's Etf. Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued.Purpose One Year Return vs. Beta
Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Purpose Enhanced |
| = | 0.4 |
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
One Year Return is the annualized return generated from holding a security for exactly 12 months. The measure is considered to be good short-term measures of fund performance. In other words, it represents the capital appreciation of fund investments over the last year. However when the market is volatile such as in recent years, One Year Return measure can be misleading.
Purpose Enhanced |
| = | 14.70 % |
Although One Year Fund Return indicator can give a sense of overall fund short-term potential, it is recommended to look at mid and long term return measure before selecting a particular fund or ETF. The great way to validate fund short-term performance is to compare it with other similar funds or ETFs for the same 12 months interval.
Purpose One Year Return Comparison
Purpose Enhanced is currently under evaluation in one year return as compared to similar ETFs.
Beta Analysis
As returns on the market increase, Purpose Enhanced's returns are expected to increase less than the market. However, during the bear market, the loss of holding Purpose Enhanced is expected to be smaller as well.
Purpose Enhanced Profitability Projections
The most important aspect of a successful company is its ability to generate a profit. For investors in Purpose Enhanced, profitability is also one of the essential criteria for including it into their portfolios because, without profit, Purpose Enhanced will eventually generate negative long term returns. The profitability progress is the general direction of Purpose Enhanced's change in net profit over the period of time. It can combine multiple indicators of Purpose Enhanced, where stable trends show no significant progress. An accelerating trend is seen as positive, while a decreasing one is unfavorable. A rising trend means that profits are rising, and operational efficiency may be rising as well. A decreasing trend is a sign of poor performance and may indicate upcoming losses.
PURPOSE ENHANCED is traded on Toronto Stock Exchange in Canada.
Purpose Profitability Driver Comparison
Profitability drivers are factors that can directly affect your investment outlook on Purpose Enhanced. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of Purpose Enhanced position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the Purpose Enhanced's important profitability drivers and their relationship over time.
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| Beta vs Equity Positions Weight |
Use Purpose Enhanced in pair-trading
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 Enhanced 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 Enhanced will appreciate offsetting losses from the drop in the long position's value.Purpose Enhanced Pair Trading
Purpose Enhanced Premium Pair Trading Analysis
The ability to find closely correlated positions to Purpose Enhanced 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 Enhanced 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 Enhanced - 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 Enhanced Premium to buy it.
The correlation of Purpose Enhanced 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 Enhanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Enhanced Premium 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 Enhanced 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.Use Investing Themes to Complement your Purpose Enhanced position
In addition to having Purpose Enhanced in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Basic Utilities Thematic Idea Now
Basic Utilities
Companies involved in production and distribution of electric, gas, water, and other energy utilities. The Basic Utilities theme has 46 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Basic Utilities Theme or any other thematic opportunities.
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Other Information on Investing in Purpose Etf
To fully project Purpose Enhanced's future profitability, investors should examine all historical financial statements. These statements provide investors with a comprehensive snapshot of the financial position of Purpose Enhanced Premium at a specified time, usually calculated after every quarter, six months, or one year. Three primary documents fall into the category of financial statements. These documents include Purpose Enhanced's income statement, its balance sheet, and the statement of cash flows.