Healthcare Special Opportunities Fund Market Value
| MDS-UN Fund | CAD 13.01 0.01 0.08% |
| Symbol | Healthcare |
Please note, there is a significant difference between Healthcare Special's value and its price as these two are different measures arrived at by different means. Investors typically determine if Healthcare Special is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Healthcare Special's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Healthcare Special '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 Healthcare Special'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 Healthcare Special.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Healthcare Special on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Healthcare Special Opportunities or generate 0.0% return on investment in Healthcare Special over 720 days. Healthcare Special is related to or competes with Australian REIT, Canadian High, MINT Income, Blue Ribbon, and Energy Income. More
Healthcare Special 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 Healthcare Special'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 Healthcare Special Opportunities upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.52) | |||
| Maximum Drawdown | 2.88 | |||
| Value At Risk | (0.23) | |||
| Potential Upside | 0.1522 |
Healthcare Special Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Healthcare Special's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Healthcare Special's standard deviation. In reality, there are many statistical measures that can use Healthcare Special historical prices to predict the future Healthcare Special's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.07) | |||
| Treynor Ratio | 4.25 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Healthcare Special's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Healthcare Special Backtested Returns
Healthcare Special holds Efficiency (Sharpe) Ratio of -0.051, which attests that the entity had a -0.051% return per unit of standard deviation over the last 3 months. Healthcare Special exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Healthcare Special's market risk adjusted performance of 4.26, and Risk Adjusted Performance of (0.05) to validate the risk estimate we provide. The fund retains a Market Volatility (i.e., Beta) of -0.0058, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Healthcare Special are expected to decrease at a much lower rate. During the bear market, Healthcare Special is likely to outperform the market.
Auto-correlation | 0.03 |
Virtually no predictability
Healthcare Special Opportunities has virtually no predictability. Overlapping area represents the amount of predictability between Healthcare Special time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Healthcare Special price movement. The serial correlation of 0.03 indicates that only 3.0% of current Healthcare Special price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.03 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.53 |
Healthcare Special lagged returns against current returns
Autocorrelation, which is Healthcare Special 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 Healthcare Special's fund expected returns. We can calculate the autocorrelation of Healthcare Special returns to help us make a trade decision. For example, suppose you find that Healthcare Special 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 |
Healthcare Special 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 Healthcare Special fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Healthcare Special fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Healthcare Special fund over time.
Current vs Lagged Prices |
| Timeline |
Healthcare Special Lagged Returns
When evaluating Healthcare Special's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Healthcare Special fund have on its future price. Healthcare Special 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, Healthcare Special autocorrelation shows the relationship between Healthcare Special fund current value and its past values and can show if there is a momentum factor associated with investing in Healthcare Special Opportunities.
Regressed Prices |
| Timeline |
Pair Trading with Healthcare Special
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 Healthcare Special 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 Healthcare Special will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Healthcare Special could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Healthcare Special 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 Healthcare Special - 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 Healthcare Special Opportunities to buy it.
The correlation of Healthcare Special 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 Healthcare Special moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Healthcare Special 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 Healthcare Special 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 Healthcare Fund
Healthcare Special financial ratios help investors to determine whether Healthcare 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 Healthcare with respect to the benefits of owning Healthcare Special security.
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