Phn Multi Style All Cap Fund Market Value
| 0P0000OXA6 | CAD 24.62 0.24 0.98% |
| Symbol | PHN |
PHN Multi '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 Multi'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 Multi.
| 12/20/2024 |
| 03/20/2025 |
If you would invest 0.00 in PHN Multi on December 20, 2024 and sell it all today you would earn a total of 0.00 from holding PHN Multi Style All Cap or generate 0.0% return on investment in PHN Multi over 90 days. PHN Multi is related to or competes with PHN Canadian, Global Healthcare. The fundamental investment objective of the Fund is to provide long-term capital growth primarily through exposure to a ... More
PHN Multi 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 Multi'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 Multi Style All Cap upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 10.94 | |||
| Value At Risk | (2.15) | |||
| Potential Upside | 1.59 |
PHN Multi Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PHN Multi's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PHN Multi's standard deviation. In reality, there are many statistical measures that can use PHN Multi historical prices to predict the future PHN Multi's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.11) | |||
| Treynor Ratio | (31.96) |
PHN Multi Style Backtested Returns
PHN Multi Style maintains Sharpe Ratio (i.e., Efficiency) of -0.0933, which implies the entity had a -0.0933 % return per unit of volatility over the last 3 months. PHN Multi Style exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PHN Multi's risk adjusted performance of (0.13), and Coefficient Of Variation of (665.43) to confirm the risk estimate we provide. The fund holds a Beta of 0.0077, which implies not very significant fluctuations relative to the market. As returns on the market increase, PHN Multi's returns are expected to increase less than the market. However, during the bear market, the loss of holding PHN Multi is expected to be smaller as well.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
PHN Multi Style All Cap has almost perfect reverse predictability. Overlapping area represents the amount of predictability between PHN Multi time series from 20th of December 2024 to 3rd of February 2025 and 3rd of February 2025 to 20th of March 2025. 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 Multi Style price movement. The serial correlation of -0.78 indicates that around 78.0% of current PHN Multi price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 0.64 |
PHN Multi Style lagged returns against current returns
Autocorrelation, which is PHN Multi 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 Multi's fund expected returns. We can calculate the autocorrelation of PHN Multi returns to help us make a trade decision. For example, suppose you find that PHN Multi 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 Multi 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 Multi fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PHN Multi fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PHN Multi fund over time.
Current vs Lagged Prices |
| Timeline |
PHN Multi Lagged Returns
When evaluating PHN Multi's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PHN Multi fund have on its future price. PHN Multi 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 Multi autocorrelation shows the relationship between PHN Multi fund current value and its past values and can show if there is a momentum factor associated with investing in PHN Multi Style All Cap.
Regressed Prices |
| Timeline |
Pair Trading with PHN Multi
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 Multi 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 Multi will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to PHN Multi 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 Multi 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 Multi - 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 Multi Style All Cap to buy it.
The correlation of PHN Multi 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 Multi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PHN Multi Style 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 Multi 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 Multi 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 Multi security.
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| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |