Purpose Global Bond Etf Market Value
| IGB Etf | CAD 18.48 0.01 0.05% |
| Symbol | Purpose |
Purpose Global '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 Purpose Global's etf 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 Purpose Global.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Purpose Global on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Purpose Global Bond or generate 0.0% return on investment in Purpose Global over 30 days. Purpose Global is related to or competes with Purpose Total, Purpose Global, Purpose Multi, Purpose International, and Purpose Strategic. Purpose Global is entity of Canada. It is traded as Etf on TO exchange. More
Purpose Global 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 Purpose Global's etf 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 Purpose Global Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1937 | |||
| Information Ratio | (0.56) | |||
| Maximum Drawdown | 0.8784 | |||
| Value At Risk | (0.27) | |||
| Potential Upside | 0.3286 |
Purpose Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purpose Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purpose Global's standard deviation. In reality, there are many statistical measures that can use Purpose Global historical prices to predict the future Purpose Global's volatility.| Risk Adjusted Performance | 0.1065 | |||
| Jensen Alpha | 0.0241 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.54) | |||
| Treynor Ratio | (3.76) |
Purpose Global Bond Backtested Returns
As of now, Purpose Etf is very steady. Purpose Global Bond maintains Sharpe Ratio (i.e., Efficiency) of 0.18, which implies the entity had a 0.18% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Purpose Global Bond, which you can use to evaluate the volatility of the etf. Please check Purpose Global's Standard Deviation of 0.1847, downside deviation of 0.1937, and Risk Adjusted Performance of 0.1065 to confirm if the risk estimate we provide is consistent with the expected return of 0.0335%. The etf holds a Beta of -0.0062, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Purpose Global are expected to decrease at a much lower rate. During the bear market, Purpose Global is likely to outperform the market.
Auto-correlation | 0.55 |
Modest predictability
Purpose Global Bond has modest predictability. Overlapping area represents the amount of predictability between Purpose Global time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 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 Purpose Global Bond price movement. The serial correlation of 0.55 indicates that about 55.0% of current Purpose Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Purpose Global Bond lagged returns against current returns
Autocorrelation, which is Purpose Global etf'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 Purpose Global's etf expected returns. We can calculate the autocorrelation of Purpose Global returns to help us make a trade decision. For example, suppose you find that Purpose Global has exhibited high autocorrelation historically, and you observe that the etf 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 |
Purpose Global 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 Purpose Global etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purpose Global etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purpose Global etf over time.
Current vs Lagged Prices |
| Timeline |
Purpose Global Lagged Returns
When evaluating Purpose Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purpose Global etf have on its future price. Purpose Global 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, Purpose Global autocorrelation shows the relationship between Purpose Global etf current value and its past values and can show if there is a momentum factor associated with investing in Purpose Global Bond.
Regressed Prices |
| Timeline |
Pair Trading with Purpose Global
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 Global 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 Global will appreciate offsetting losses from the drop in the long position's value.Moving together with Purpose Etf
Moving against Purpose Etf
The ability to find closely correlated positions to Purpose Global 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 Global 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 Global - 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 Global Bond to buy it.
The correlation of Purpose Global 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 Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Global Bond 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 Global 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 Purpose Etf
Purpose Global financial ratios help investors to determine whether Purpose 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 Purpose with respect to the benefits of owning Purpose Global security.