Protecting Capital

Sharpe Ratio

Almost all investments come with an element of risk but does this risk contribute to your return? Sharpe ratio is one of the calculations available to investors to assess returns on a risk-adjusted basis – […]

Beta

Beta is a measure that investors can use when assessing a potential investment for volatility. Beta measures correlation to the market (or a benchmark) and how susceptible a stock or fund is to the fluctuations […]

Alpha

Alpha is the measure of a fund’s actual performance above its anticipated performance, as predicted by beta. Take the fund’s performance against its benchmark on a risk-adjusted basis to ascertain the excess. This relative outperformance […]

Risk

At Pender, we consider ourselves owners of a business, not just its stock, which means that when we think about risk we believe that real investment risk is not measured by fluctuations in a stock’s […]

Duration

Duration is a measure of a bond’s price sensitivity to a change in interest rates. It is a key factor in differentiating how funds are positioned for interest rate risk. The longer the duration (the […]

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