Tortoise Global Water Etf Market Value
| TBLU Etf | USD 47.75 0.09 0.19% |
| Symbol | Tortoise |
The market value of Tortoise Global Water is measured differently than its book value, which is the value of Tortoise that is recorded on the company's balance sheet. Investors also form their own opinion of Tortoise Global's value that differs from its market value or its book value, called intrinsic value, which is Tortoise Global's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Tortoise Global's market value can be influenced by many factors that don't directly affect Tortoise Global's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Tortoise Global's value and its price as these two are different measures arrived at by different means. Investors typically determine if Tortoise Global is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tortoise Global'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.
Tortoise 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 Tortoise 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 Tortoise Global.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Tortoise Global on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Tortoise Global Water or generate 0.0% return on investment in Tortoise Global over 30 days. Tortoise Global is related to or competes with Mast Global, Materials Select, Vanguard Materials, SPDR SP, Invesco Water, First Trust, and First Trust. The investment seeks investment results that correspond generally to the price and distribution rate performance of the ... More
Tortoise 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 Tortoise 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 Tortoise Global Water upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 6.18 | |||
| Value At Risk | (1.53) | |||
| Potential Upside | 1.37 |
Tortoise Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tortoise Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tortoise Global's standard deviation. In reality, there are many statistical measures that can use Tortoise Global historical prices to predict the future Tortoise Global's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | (0.06) |
Tortoise Global Water Backtested Returns
Tortoise Global Water owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0316, which indicates the etf had a -0.0316% return per unit of risk over the last 3 months. Tortoise Global Water exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tortoise Global's Risk Adjusted Performance of (0.03), variance of 1.03, and Coefficient Of Variation of (2,748) to confirm the risk estimate we provide. The entity has a beta of 0.73, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tortoise Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tortoise Global is expected to be smaller as well.
Auto-correlation | -0.83 |
Excellent reverse predictability
Tortoise Global Water has excellent reverse predictability. Overlapping area represents the amount of predictability between Tortoise Global time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Tortoise Global Water price movement. The serial correlation of -0.83 indicates that around 83.0% of current Tortoise Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.83 | |
| Spearman Rank Test | -0.85 | |
| Residual Average | 0.0 | |
| Price Variance | 1.81 |
Tortoise Global Water lagged returns against current returns
Autocorrelation, which is Tortoise 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 Tortoise Global's etf expected returns. We can calculate the autocorrelation of Tortoise Global returns to help us make a trade decision. For example, suppose you find that Tortoise 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 |
Tortoise 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 Tortoise Global etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tortoise Global etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tortoise Global etf over time.
Current vs Lagged Prices |
| Timeline |
Tortoise Global Lagged Returns
When evaluating Tortoise Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tortoise Global etf have on its future price. Tortoise 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, Tortoise Global autocorrelation shows the relationship between Tortoise Global etf current value and its past values and can show if there is a momentum factor associated with investing in Tortoise Global Water.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Check out Tortoise Global Correlation, Tortoise Global Volatility and Tortoise Global Alpha and Beta module to complement your research on Tortoise Global. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Tortoise Global technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.