David Chojnacki - Tortoise Insider
Stakeholder David Chojnacki is not found or was disassociated from the entity Tortoise
If you believe David Chojnacki is a valid insider of Tortoise please let us know and we will check it out.
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Pair Trading with Tortoise
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 Tortoise 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 Tortoise will appreciate offsetting losses from the drop in the long position's value.Moving together with Tortoise Etf
| 0.75 | XLB | Materials Select Sector | PairCorr |
| 0.73 | VAW | Vanguard Materials Index | PairCorr |
| 0.85 | XME | SPDR SP Metals | PairCorr |
The ability to find closely correlated positions to Tortoise could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tortoise 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 Tortoise - 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 Tortoise to buy it.
The correlation of Tortoise 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 Tortoise moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tortoise 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 Tortoise 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.Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
The market value of Tortoise 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's value that differs from its market value or its book value, called intrinsic value, which is Tortoise'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's market value can be influenced by many factors that don't directly affect Tortoise'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's value and its price as these two are different measures arrived at by different means. Investors typically determine if Tortoise is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tortoise'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.