Phn Canadian Equity Fund Market Value
| 0P0000N468 | CAD 22.76 0.05 0.22% |
| Symbol | PHN |
PHN Canadian '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 PHN Canadian'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 PHN Canadian.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in PHN Canadian on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding PHN Canadian Equity or generate 0.0% return on investment in PHN Canadian over 720 days. PHN Canadian is related to or competes with BMO Concentrated, CI Global, CI Global, and Mawer Global. The fundamental investment objective of the Fund is to provide long-term capital growth More
PHN Canadian 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 PHN Canadian'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 PHN Canadian Equity upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4681 | |||
| Information Ratio | 0.0119 | |||
| Maximum Drawdown | 2.47 | |||
| Value At Risk | (0.63) | |||
| Potential Upside | 1.01 |
PHN Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PHN Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PHN Canadian's standard deviation. In reality, there are many statistical measures that can use PHN Canadian historical prices to predict the future PHN Canadian's volatility.| Risk Adjusted Performance | 0.2112 | |||
| Jensen Alpha | 0.1114 | |||
| Total Risk Alpha | 0.0489 | |||
| Sortino Ratio | 0.0129 | |||
| Treynor Ratio | 0.7668 |
PHN Canadian Equity Backtested Returns
As of now, PHN Fund is very steady. PHN Canadian Equity maintains Sharpe Ratio (i.e., Efficiency) of 0.33, which implies the entity had a 0.33% return per unit of volatility over the last 3 months. We have found twenty-seven technical indicators for PHN Canadian Equity, which you can use to evaluate the volatility of the fund. Please check PHN Canadian's semi deviation of 0.1765, and Risk Adjusted Performance of 0.2112 to confirm if the risk estimate we provide is consistent with the expected return of 0.16%. The fund holds a Beta of 0.17, which implies not very significant fluctuations relative to the market. As returns on the market increase, PHN Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding PHN Canadian is expected to be smaller as well.
Auto-correlation | -0.08 |
Very weak reverse predictability
PHN Canadian Equity has very weak reverse predictability. Overlapping area represents the amount of predictability between PHN Canadian time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 to 1st 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 PHN Canadian Equity price movement. The serial correlation of -0.08 indicates that barely 8.0% of current PHN Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.08 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 1.42 |
PHN Canadian Equity lagged returns against current returns
Autocorrelation, which is PHN Canadian 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 PHN Canadian's fund expected returns. We can calculate the autocorrelation of PHN Canadian returns to help us make a trade decision. For example, suppose you find that PHN Canadian 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 |
PHN Canadian 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 PHN Canadian fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PHN Canadian fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PHN Canadian fund over time.
Current vs Lagged Prices |
| Timeline |
PHN Canadian Lagged Returns
When evaluating PHN Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PHN Canadian fund have on its future price. PHN Canadian 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, PHN Canadian autocorrelation shows the relationship between PHN Canadian fund current value and its past values and can show if there is a momentum factor associated with investing in PHN Canadian Equity.
Regressed Prices |
| Timeline |
Pair Trading with PHN Canadian
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 PHN Canadian 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 PHN Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with PHN Fund
| 0.96 | 0P00007173 | Mawer Canadien actions | PairCorr |
| 1.0 | 0P00007061 | RBC Canadian Equity | PairCorr |
| 0.96 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.97 | 0P00007069 | RBC Portefeuille | PairCorr |
The ability to find closely correlated positions to PHN Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PHN Canadian 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 PHN Canadian - 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 PHN Canadian Equity to buy it.
The correlation of PHN Canadian 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 PHN Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PHN Canadian Equity 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 PHN Canadian 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 PHN Fund
PHN Canadian financial ratios help investors to determine whether PHN 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 PHN with respect to the benefits of owning PHN Canadian security.
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