Tekla Healthcare Opportunities Fund Market Value
| THQ Fund | USD 20.88 0.29 1.41% |
| Symbol | Tekla |
Tekla Healthcare '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 Tekla Healthcare'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 Tekla Healthcare.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Tekla Healthcare on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Tekla Healthcare Opportunities or generate 0.0% return on investment in Tekla Healthcare over 180 days. Tekla Healthcare is related to or competes with Tekla Healthcare, Tekla Life, Cohen Steers, XAI Octagon, Tekla World, Royce Value, and John Hancock. Tekla Healthcare Opportunities Fund is a closed ended balanced mutual fund launched and managed by Tekla Capital Managem... More
Tekla Healthcare 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 Tekla Healthcare'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 Tekla Healthcare Opportunities upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 5.19 | |||
| Value At Risk | (1.67) | |||
| Potential Upside | 1.41 |
Tekla Healthcare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tekla Healthcare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tekla Healthcare's standard deviation. In reality, there are many statistical measures that can use Tekla Healthcare historical prices to predict the future Tekla Healthcare's volatility.| Risk Adjusted Performance | 6.0E-4 | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | (0.02) |
Tekla Healthcare Opp Backtested Returns
Tekla Healthcare Opp owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0153, which indicates the fund had a -0.0153% return per unit of risk over the last 3 months. Tekla Healthcare Opportunities exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tekla Healthcare's Variance of 1.13, risk adjusted performance of 6.0E-4, and Coefficient Of Variation of (34,117) to confirm the risk estimate we provide. The entity has a beta of 0.68, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tekla Healthcare's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tekla Healthcare is expected to be smaller as well.
Auto-correlation | -0.39 |
Poor reverse predictability
Tekla Healthcare Opportunities has poor reverse predictability. Overlapping area represents the amount of predictability between Tekla Healthcare time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 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 Tekla Healthcare Opp price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Tekla Healthcare price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.49 |
Tekla Healthcare Opp lagged returns against current returns
Autocorrelation, which is Tekla Healthcare 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 Tekla Healthcare's fund expected returns. We can calculate the autocorrelation of Tekla Healthcare returns to help us make a trade decision. For example, suppose you find that Tekla Healthcare 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 |
Tekla Healthcare 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 Tekla Healthcare fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tekla Healthcare fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tekla Healthcare fund over time.
Current vs Lagged Prices |
| Timeline |
Tekla Healthcare Lagged Returns
When evaluating Tekla Healthcare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tekla Healthcare fund have on its future price. Tekla Healthcare 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, Tekla Healthcare autocorrelation shows the relationship between Tekla Healthcare fund current value and its past values and can show if there is a momentum factor associated with investing in Tekla Healthcare Opportunities.
Regressed Prices |
| Timeline |
Pair Trading with Tekla Healthcare
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 Tekla Healthcare 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 Tekla Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving against Tekla Fund
| 0.71 | KINCX | Kinetics Internet | PairCorr |
| 0.67 | KMKCX | Kinetics Market Oppo | PairCorr |
| 0.66 | WWNPX | Kinetics Paradigm Steady Growth | PairCorr |
| 0.66 | KNPCX | Kinetics Paradigm Steady Growth | PairCorr |
| 0.65 | KNPAX | Kinetics Paradigm Steady Growth | PairCorr |
The ability to find closely correlated positions to Tekla Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tekla Healthcare 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 Tekla Healthcare - 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 Tekla Healthcare Opportunities to buy it.
The correlation of Tekla Healthcare 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 Tekla Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tekla Healthcare Opp 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 Tekla Healthcare 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 Tekla Fund
Tekla Healthcare financial ratios help investors to determine whether Tekla 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 Tekla with respect to the benefits of owning Tekla Healthcare security.
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