Commonwealth Australianew Zealand Fund Market Value
CNZLX Fund | USD 10.26 0.12 1.16% |
Symbol | Commonwealth |
Commonwealth Australianew '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 Commonwealth Australianew'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 Commonwealth Australianew.
03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in Commonwealth Australianew on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding Commonwealth Australianew Zealand or generate 0.0% return on investment in Commonwealth Australianew over 30 days. Commonwealth Australianew is related to or competes with Commonwealth Japan, Matthews Asian, Guinness Atkinson, Morningstar Unconstrained, Thrivent High, Via Renewables, and T Rowe. The fund normally invests at least 80 percent of its net assets in the securities of, and depositary receipts , Global D... More
Commonwealth Australianew 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 Commonwealth Australianew'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 Commonwealth Australianew Zealand upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.30) | |||
Maximum Drawdown | 3.31 | |||
Value At Risk | (1.22) | |||
Potential Upside | 1.09 |
Commonwealth Australianew Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Commonwealth Australianew's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Commonwealth Australianew's standard deviation. In reality, there are many statistical measures that can use Commonwealth Australianew historical prices to predict the future Commonwealth Australianew's volatility.Risk Adjusted Performance | (0.13) | |||
Jensen Alpha | (0.18) | |||
Total Risk Alpha | (0.20) | |||
Treynor Ratio | (0.23) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Commonwealth Australianew'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.
Commonwealth Australianew Backtested Returns
Commonwealth Australianew secures Sharpe Ratio (or Efficiency) of -0.16, which signifies that the fund had a -0.16% return per unit of risk over the last 3 months. Commonwealth Australianew Zealand exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Commonwealth Australianew's Standard Deviation of 0.6714, risk adjusted performance of (0.13), and Mean Deviation of 0.5219 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.67, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Commonwealth Australianew's returns are expected to increase less than the market. However, during the bear market, the loss of holding Commonwealth Australianew is expected to be smaller as well.
Auto-correlation | -0.57 |
Good reverse predictability
Commonwealth Australianew Zealand has good reverse predictability. Overlapping area represents the amount of predictability between Commonwealth Australianew time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th 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 Commonwealth Australianew price movement. The serial correlation of -0.57 indicates that roughly 57.0% of current Commonwealth Australianew price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.57 | |
Spearman Rank Test | -0.63 | |
Residual Average | 0.0 | |
Price Variance | 0.03 |
Commonwealth Australianew lagged returns against current returns
Autocorrelation, which is Commonwealth Australianew 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 Commonwealth Australianew's mutual fund expected returns. We can calculate the autocorrelation of Commonwealth Australianew returns to help us make a trade decision. For example, suppose you find that Commonwealth Australianew 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 |
Commonwealth Australianew 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 Commonwealth Australianew mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Commonwealth Australianew mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Commonwealth Australianew mutual fund over time.
Current vs Lagged Prices |
Timeline |
Commonwealth Australianew Lagged Returns
When evaluating Commonwealth Australianew's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Commonwealth Australianew mutual fund have on its future price. Commonwealth Australianew 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, Commonwealth Australianew autocorrelation shows the relationship between Commonwealth Australianew mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Commonwealth Australianew Zealand.
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 Commonwealth Australianew 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, Commonwealth Australianew's short interest history, or implied volatility extrapolated from Commonwealth Australianew options trading.
Pair Trading with Commonwealth Australianew
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 Commonwealth Australianew 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 Commonwealth Australianew will appreciate offsetting losses from the drop in the long position's value.Moving against Commonwealth Mutual Fund
0.72 | VFIAX | Vanguard 500 Index | PairCorr |
0.71 | VSMPX | Vanguard Total Stock | PairCorr |
0.7 | VTSAX | Vanguard Total Stock | PairCorr |
0.7 | VTSMX | Vanguard Total Stock | PairCorr |
0.66 | FNORX | Fidelity Nordic | PairCorr |
The ability to find closely correlated positions to Commonwealth Australianew could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Commonwealth Australianew 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 Commonwealth Australianew - 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 Commonwealth Australianew Zealand to buy it.
The correlation of Commonwealth Australianew 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 Commonwealth Australianew moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Commonwealth Australianew 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 Commonwealth Australianew 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 Commonwealth Australianew Correlation, Commonwealth Australianew Volatility and Commonwealth Australianew Alpha and Beta module to complement your research on Commonwealth Australianew. You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Commonwealth Australianew 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.