Heritage Fund I Fund Market Value
ATHIX Fund | USD 27.68 0.10 0.36% |
Symbol | Heritage |
Heritage Fund '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 Heritage Fund'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 Heritage Fund.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in Heritage Fund on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Heritage Fund I or generate 0.0% return on investment in Heritage Fund over 30 days. Heritage Fund is related to or competes with USCF Gold, Mid Cap, Equity Growth, Income Growth, Diversified Bond, Emerging Markets, and Diversified Bond. The fund normally invests in stocks of medium-sized companies that the adviser believes will increase in value over time... More
Heritage Fund 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 Heritage Fund'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 Heritage Fund I upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 0.8981 | |||
Information Ratio | 0.0878 | |||
Maximum Drawdown | 4.14 | |||
Value At Risk | (1.46) | |||
Potential Upside | 2.04 |
Heritage Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Heritage Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Heritage Fund's standard deviation. In reality, there are many statistical measures that can use Heritage Fund historical prices to predict the future Heritage Fund's volatility.Risk Adjusted Performance | 0.1285 | |||
Jensen Alpha | 0.2097 | |||
Total Risk Alpha | (0.01) | |||
Sortino Ratio | 0.0968 | |||
Treynor Ratio | 17.03 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Heritage Fund'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.
Heritage Fund I Backtested Returns
We consider Heritage Fund very steady. Heritage Fund I holds Efficiency (Sharpe) Ratio of 0.19, which attests that the entity had a 0.19% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Heritage Fund I, which you can use to evaluate the volatility of the entity. Please check out Heritage Fund's Risk Adjusted Performance of 0.1285, downside deviation of 0.8981, and Market Risk Adjusted Performance of 17.04 to validate if the risk estimate we provide is consistent with the expected return of 0.19%. The fund retains a Market Volatility (i.e., Beta) of 0.0124, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Heritage Fund's returns are expected to increase less than the market. However, during the bear market, the loss of holding Heritage Fund is expected to be smaller as well.
Auto-correlation | 0.50 |
Modest predictability
Heritage Fund I has modest predictability. Overlapping area represents the amount of predictability between Heritage Fund time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 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 Heritage Fund I price movement. The serial correlation of 0.5 indicates that about 50.0% of current Heritage Fund price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.5 | |
Spearman Rank Test | 0.41 | |
Residual Average | 0.0 | |
Price Variance | 0.07 |
Heritage Fund I lagged returns against current returns
Autocorrelation, which is Heritage Fund 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 Heritage Fund's mutual fund expected returns. We can calculate the autocorrelation of Heritage Fund returns to help us make a trade decision. For example, suppose you find that Heritage Fund 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 |
Heritage Fund 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 Heritage Fund mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Heritage Fund mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Heritage Fund mutual fund over time.
Current vs Lagged Prices |
Timeline |
Heritage Fund Lagged Returns
When evaluating Heritage Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Heritage Fund mutual fund have on its future price. Heritage Fund 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, Heritage Fund autocorrelation shows the relationship between Heritage Fund mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Heritage Fund I.
Regressed Prices |
Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Heritage Fund in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Heritage Fund's short interest history, or implied volatility extrapolated from Heritage Fund options trading.
Pair Trading with Heritage Fund
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 Heritage Fund 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 Heritage Fund will appreciate offsetting losses from the drop in the long position's value.Moving together with Heritage Mutual Fund
0.63 | USG | USCF Gold Strategy Symbol Change | PairCorr |
0.71 | AMDVX | Mid Cap Value | PairCorr |
0.96 | AMEIX | Equity Growth Fund | PairCorr |
0.95 | AMGIX | Income Growth Fund | PairCorr |
Moving against Heritage Mutual Fund
0.46 | CDBCX | Diversified Bond Fund | PairCorr |
0.45 | TWACX | Short-term Government | PairCorr |
0.44 | ADVRX | Diversified Bond Fund | PairCorr |
The ability to find closely correlated positions to Heritage Fund could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Heritage Fund 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 Heritage Fund - 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 Heritage Fund I to buy it.
The correlation of Heritage Fund 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 Heritage Fund moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heritage Fund I 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 Heritage Fund 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 Heritage Fund Correlation, Heritage Fund Volatility and Heritage Fund Alpha and Beta module to complement your research on Heritage Fund. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Complementary Tools for Heritage Mutual Fund analysis
When running Heritage Fund's price analysis, check to measure Heritage Fund's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Heritage Fund is operating at the current time. Most of Heritage Fund's value examination focuses on studying past and present price action to predict the probability of Heritage Fund's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Heritage Fund's price. Additionally, you may evaluate how the addition of Heritage Fund to your portfolios can decrease your overall portfolio volatility.
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Heritage Fund 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.