Purpose Multi Strategy Market Etf Market Value
| PMM Etf | CAD 23.94 0.18 0.76% |
| Symbol | Purpose |
Purpose 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 Purpose Multi'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 Multi.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Purpose Multi on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Purpose Multi Strategy Market or generate 0.0% return on investment in Purpose Multi over 90 days. Purpose Multi is related to or competes with Purpose Tactical, Purpose Diversified, Purpose Best, Purpose Total, and Purpose Monthly. The Purpose Multi-Strategy Market Neutral Fund seeks to provide unitholders with positive absolute returns that are not ... More
Purpose 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 Purpose Multi'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 Multi Strategy Market upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0724 | |||
| Maximum Drawdown | 2.64 | |||
| Value At Risk | (1.26) | |||
| Potential Upside | 1.02 |
Purpose Multi Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purpose Multi's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purpose Multi's standard deviation. In reality, there are many statistical measures that can use Purpose Multi historical prices to predict the future Purpose Multi's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | 0.0212 | |||
| Treynor Ratio | (0.54) |
Purpose Multi Strategy Backtested Returns
Purpose Multi Strategy maintains Sharpe Ratio (i.e., Efficiency) of -0.1, which implies the entity had a -0.1 % return per unit of risk over the last 3 months. Purpose Multi Strategy exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Purpose Multi's Variance of 0.4343, risk adjusted performance of (0.07), and Coefficient Of Variation of (1,284) to confirm the risk estimate we provide. The etf holds a Beta of 0.11, which implies not very significant fluctuations relative to the market. As returns on the market increase, Purpose Multi's returns are expected to increase less than the market. However, during the bear market, the loss of holding Purpose Multi is expected to be smaller as well.
Auto-correlation | 0.31 |
Below average predictability
Purpose Multi Strategy Market has below average predictability. Overlapping area represents the amount of predictability between Purpose Multi time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th 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 Purpose Multi Strategy price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Purpose Multi price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Purpose Multi Strategy lagged returns against current returns
Autocorrelation, which is Purpose Multi 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 Multi's etf expected returns. We can calculate the autocorrelation of Purpose Multi returns to help us make a trade decision. For example, suppose you find that Purpose Multi 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 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 Purpose Multi etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purpose Multi etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purpose Multi etf over time.
Current vs Lagged Prices |
| Timeline |
Purpose Multi Lagged Returns
When evaluating Purpose Multi's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purpose Multi etf have on its future price. Purpose 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, Purpose Multi autocorrelation shows the relationship between Purpose Multi etf current value and its past values and can show if there is a momentum factor associated with investing in Purpose Multi Strategy Market.
Regressed Prices |
| Timeline |
Pair Trading with Purpose 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 Purpose 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 Purpose Multi 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 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 Purpose 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 Purpose 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 Purpose Multi Strategy Market to buy it.
The correlation of Purpose 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 Purpose Multi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Multi Strategy 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 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 Purpose Etf
Purpose Multi 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 Multi security.