Tangerine Equity Growth Fund Market Value
| 0P0001KUBJ | 14.73 0.09 0.61% |
| Symbol | Tangerine |
Tangerine Equity '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 Tangerine Equity'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 Tangerine Equity.
| 01/09/2023 |
| 12/29/2024 |
If you would invest 0.00 in Tangerine Equity on January 9, 2023 and sell it all today you would earn a total of 0.00 from holding Tangerine Equity Growth or generate 0.0% return on investment in Tangerine Equity over 720 days.
Tangerine Equity 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 Tangerine Equity'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 Tangerine Equity Growth upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6686 | |||
| Information Ratio | 0.1481 | |||
| Maximum Drawdown | 4.06 | |||
| Value At Risk | (0.64) | |||
| Potential Upside | 0.8734 |
Tangerine Equity Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tangerine Equity's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tangerine Equity's standard deviation. In reality, there are many statistical measures that can use Tangerine Equity historical prices to predict the future Tangerine Equity's volatility.| Risk Adjusted Performance | 0.1593 | |||
| Jensen Alpha | 0.1048 | |||
| Total Risk Alpha | 0.0902 | |||
| Sortino Ratio | 0.1252 | |||
| Treynor Ratio | 2.22 |
Tangerine Equity Growth Backtested Returns
As of now, Tangerine Fund is very steady. Tangerine Equity Growth owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.18, which indicates the fund had a 0.18% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Tangerine Equity Growth, which you can use to evaluate the volatility of the fund. Please validate Tangerine Equity's Coefficient Of Variation of 487.8, risk adjusted performance of 0.1593, and Semi Deviation of 0.39 to confirm if the risk estimate we provide is consistent with the expected return of 0.0998%. The entity has a beta of 0.0478, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Tangerine Equity's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tangerine Equity is expected to be smaller as well.
Auto-correlation | 0.86 |
Very good predictability
Tangerine Equity Growth has very good predictability. Overlapping area represents the amount of predictability between Tangerine Equity time series from 9th of January 2023 to 4th of January 2024 and 4th of January 2024 to 29th 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 Tangerine Equity Growth price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current Tangerine Equity price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 0.77 |
Tangerine Equity Growth lagged returns against current returns
Autocorrelation, which is Tangerine Equity 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 Tangerine Equity's fund expected returns. We can calculate the autocorrelation of Tangerine Equity returns to help us make a trade decision. For example, suppose you find that Tangerine Equity 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 |
Tangerine Equity 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 Tangerine Equity fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tangerine Equity fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tangerine Equity fund over time.
Current vs Lagged Prices |
| Timeline |
Tangerine Equity Lagged Returns
When evaluating Tangerine Equity's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tangerine Equity fund have on its future price. Tangerine Equity 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, Tangerine Equity autocorrelation shows the relationship between Tangerine Equity fund current value and its past values and can show if there is a momentum factor associated with investing in Tangerine Equity Growth.
Regressed Prices |
| Timeline |
Pair Trading with Tangerine Equity
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 Tangerine Equity 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 Tangerine Equity will appreciate offsetting losses from the drop in the long position's value.Moving together with Tangerine Fund
| 0.79 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.82 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.87 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
Moving against Tangerine Fund
| 0.49 | 0P0000S9O7 | PIMCO Monthly Income | PairCorr |
The ability to find closely correlated positions to Tangerine Equity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tangerine Equity 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 Tangerine Equity - 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 Tangerine Equity Growth to buy it.
The correlation of Tangerine Equity 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 Tangerine Equity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tangerine Equity Growth 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 Tangerine Equity 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.| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
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