Picton Mahoney Fortified Etf Beta
| PFAA Etf | 11.87 0.01 0.08% |
Picton Mahoney Fortified fundamentals help investors to digest information that contributes to Picton Mahoney's financial success or failures. It also enables traders to predict the movement of Picton Etf. The fundamental analysis module provides a way to measure Picton Mahoney's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Picton Mahoney etf.
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Picton Mahoney Fortified ETF Beta Analysis
Picton Mahoney's 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.
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.
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In accordance with the recently published financial statements, Picton Mahoney Fortified has a Beta of 0.0. This indicator is about the same for the average (which is currently at 0.0) family and about the same as Alternative Multi - Strategy (which currently averages 0.0) category. This indicator is about the same for all Canada etfs average (which is currently at 0.0).
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About Picton Mahoney Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Picton Mahoney Fortified's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Picton Mahoney using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Picton Mahoney Fortified based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
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
Moving against Picton Etf
| 0.88 | NALT | NBI Liquid Alternatives | PairCorr |
| 0.85 | VRE | Vanguard FTSE Canadian | PairCorr |
| 0.82 | HQD | BetaPro NASDAQ 100 | PairCorr |
| 0.74 | HIU | BetaPro SP 500 | PairCorr |
| 0.73 | HXD | BetaPro SPTSX 60 | 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.