Tortoise Energy Independence Fund Market Value
| XNDPX Fund | USD 39.63 0.33 0.83% |
| Symbol | Tortoise |
Please note, there is a significant difference between Tortoise Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Tortoise Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tortoise Energy'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 Energy '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 Energy's mutual 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 Tortoise Energy.
| 02/23/2024 |
| 04/23/2024 |
If you would invest 0.00 in Tortoise Energy on February 23, 2024 and sell it all today you would earn a total of 0.00 from holding Tortoise Energy Independence or generate 0.0% return on investment in Tortoise Energy over 60 days. Tortoise Energy is related to or competes with Vanguard Total, Vanguard 500, Vanguard Total, Vanguard Total, Vanguard Total, Vanguard Total, and Vanguard 500. Tortoise Energy is entity of United States More
Tortoise Energy 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 Energy's mutual 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 Tortoise Energy Independence upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9076 | |||
| Information Ratio | 0.2008 | |||
| Maximum Drawdown | 4.98 | |||
| Value At Risk | (1.29) | |||
| Potential Upside | 1.33 |
Tortoise Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tortoise Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tortoise Energy's standard deviation. In reality, there are many statistical measures that can use Tortoise Energy historical prices to predict the future Tortoise Energy's volatility.| Risk Adjusted Performance | 0.1885 | |||
| Jensen Alpha | 0.2785 | |||
| Total Risk Alpha | 0.1434 | |||
| Sortino Ratio | 0.1968 | |||
| Treynor Ratio | (0.99) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Tortoise Energy's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Tortoise Energy Inde Backtested Returns
Tortoise Energy appears to be very steady, given 3 months investment horizon. Tortoise Energy Inde owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.28, which indicates the fund had a 0.28% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Tortoise Energy Independence, which you can use to evaluate the volatility of the fund. Please review Tortoise Energy's Coefficient Of Variation of 332.07, semi deviation of 0.4517, and Risk Adjusted Performance of 0.1885 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of -0.26, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tortoise Energy are expected to decrease at a much lower rate. During the bear market, Tortoise Energy is likely to outperform the market.
Auto-correlation | 0.14 |
Insignificant predictability
Tortoise Energy Independence has insignificant predictability. Overlapping area represents the amount of predictability between Tortoise Energy time series from 23rd of February 2024 to 24th of March 2024 and 24th of March 2024 to 23rd of April 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 Energy Inde price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Tortoise Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 0.37 |
Tortoise Energy Inde lagged returns against current returns
Autocorrelation, which is Tortoise Energy mutual 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 Tortoise Energy's mutual fund expected returns. We can calculate the autocorrelation of Tortoise Energy returns to help us make a trade decision. For example, suppose you find that Tortoise Energy has exhibited high autocorrelation historically, and you observe that the mutual 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 |
Tortoise Energy 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 Energy mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tortoise Energy mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tortoise Energy mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Tortoise Energy Lagged Returns
When evaluating Tortoise Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tortoise Energy mutual fund have on its future price. Tortoise Energy 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 Energy autocorrelation shows the relationship between Tortoise Energy mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Tortoise Energy Independence.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Check out Tortoise Energy Correlation, Tortoise Energy Volatility and Tortoise Energy Alpha and Beta module to complement your research on Tortoise Energy. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Tortoise Energy technical mutual fund 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, fund market cycles, or different charting patterns.