Purpose Strategic Yield Etf Market Value
| SYLD Etf | CAD 19.31 0.06 0.31% |
| Symbol | Purpose |
Purpose Strategic '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 Strategic'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 Strategic.
| 03/02/2023 |
| 02/19/2025 |
If you would invest 0.00 in Purpose Strategic on March 2, 2023 and sell it all today you would earn a total of 0.00 from holding Purpose Strategic Yield or generate 0.0% return on investment in Purpose Strategic over 720 days. Purpose Strategic is related to or competes with Purpose Premium, Purpose Monthly, Purpose International, Purpose Enhanced, and Purpose Multi. The funds investment objective is to provide investors with a high yield by investing primarily in, or obtaining exposur... More
Purpose Strategic 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 Strategic'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 Strategic Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3127 | |||
| Information Ratio | 0.0391 | |||
| Maximum Drawdown | 1.72 | |||
| Value At Risk | (0.36) | |||
| Potential Upside | 0.4673 |
Purpose Strategic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purpose Strategic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purpose Strategic's standard deviation. In reality, there are many statistical measures that can use Purpose Strategic historical prices to predict the future Purpose Strategic's volatility.| Risk Adjusted Performance | 0.0751 | |||
| Jensen Alpha | 0.0263 | |||
| Total Risk Alpha | 0.0202 | |||
| Sortino Ratio | 0.0356 | |||
| Treynor Ratio | 3.57 |
Purpose Strategic Yield Backtested Returns
As of now, Purpose Etf is very steady. Purpose Strategic Yield maintains Sharpe Ratio (i.e., Efficiency) of 0.13, which implies the entity had a 0.13 % return per unit of risk over the last 3 months. We have found thirty technical indicators for Purpose Strategic Yield, which you can use to evaluate the volatility of the etf. Please check Purpose Strategic's Risk Adjusted Performance of 0.0751, coefficient of variation of 780.52, and Semi Deviation of 0.1997 to confirm if the risk estimate we provide is consistent with the expected return of 0.0365%. The etf holds a Beta of 0.0074, which implies not very significant fluctuations relative to the market. As returns on the market increase, Purpose Strategic's returns are expected to increase less than the market. However, during the bear market, the loss of holding Purpose Strategic is expected to be smaller as well.
Auto-correlation | 0.88 |
Very good predictability
Purpose Strategic Yield has very good predictability. Overlapping area represents the amount of predictability between Purpose Strategic time series from 2nd of March 2023 to 25th of February 2024 and 25th of February 2024 to 19th of February 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 Strategic Yield price movement. The serial correlation of 0.88 indicates that approximately 88.0% of current Purpose Strategic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.88 | |
| Spearman Rank Test | 0.87 | |
| Residual Average | 0.0 | |
| Price Variance | 0.38 |
Purpose Strategic Yield lagged returns against current returns
Autocorrelation, which is Purpose Strategic 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 Strategic's etf expected returns. We can calculate the autocorrelation of Purpose Strategic returns to help us make a trade decision. For example, suppose you find that Purpose Strategic 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 Strategic 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 Strategic etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purpose Strategic etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purpose Strategic etf over time.
Current vs Lagged Prices |
| Timeline |
Purpose Strategic Lagged Returns
When evaluating Purpose Strategic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purpose Strategic etf have on its future price. Purpose Strategic 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 Strategic autocorrelation shows the relationship between Purpose Strategic etf current value and its past values and can show if there is a momentum factor associated with investing in Purpose Strategic Yield.
Regressed Prices |
| Timeline |
Pair Trading with Purpose Strategic
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 Strategic 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 Strategic will appreciate offsetting losses from the drop in the long position's value.Moving together with Purpose Etf
The ability to find closely correlated positions to Purpose Strategic 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 Strategic 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 Strategic - 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 Strategic Yield to buy it.
The correlation of Purpose Strategic 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 Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Strategic Yield 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 Strategic 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 Strategic 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 Strategic security.