Health Care Fund Market Value
RYHEX Fund | USD 36.04 0.23 0.64% |
Symbol | Health |
Health Care '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 Health Care'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 Health Care.
03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Health Care on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding Health Care Fund or generate 0.0% return on investment in Health Care over 30 days. Health Care is related to or competes with Technology Fund, Financial Services, Transportation Fund, Banking Fund, and Telecommunications. Under normal circumstances, the fund invests substantially all of its net assets in equity securities of Health Care Com... More
Health Care 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 Health Care'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 Health Care Fund upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.13) | |||
Maximum Drawdown | 3.1 | |||
Value At Risk | (1.17) | |||
Potential Upside | 1.21 |
Health Care Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Health Care's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Health Care's standard deviation. In reality, there are many statistical measures that can use Health Care historical prices to predict the future Health Care's volatility.Risk Adjusted Performance | (0) | |||
Jensen Alpha | (0.09) | |||
Total Risk Alpha | (0.10) | |||
Treynor Ratio | (0.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Health Care'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.
Health Care Fund Backtested Returns
We consider Health Care very steady. Health Care Fund holds Efficiency (Sharpe) Ratio of 9.0E-4, which attests that the entity had a 9.0E-4% return per unit of standard deviation over the last 3 months. We have found twenty-two technical indicators for Health Care Fund, which you can use to evaluate the volatility of the entity. Please check out Health Care's market risk adjusted performance of (0), and Risk Adjusted Performance of (0) to validate if the risk estimate we provide is consistent with the expected return of 6.0E-4%. The fund retains a Market Volatility (i.e., Beta) of 0.94, which attests to possible diversification benefits within a given portfolio. Health Care returns are very sensitive to returns on the market. As the market goes up or down, Health Care is expected to follow.
Auto-correlation | 0.75 |
Good predictability
Health Care Fund has good predictability. Overlapping area represents the amount of predictability between Health Care time series from 24th of March 2024 to 8th of April 2024 and 8th of April 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 Health Care Fund price movement. The serial correlation of 0.75 indicates that around 75.0% of current Health Care price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.75 | |
Spearman Rank Test | 0.77 | |
Residual Average | 0.0 | |
Price Variance | 0.43 |
Health Care Fund lagged returns against current returns
Autocorrelation, which is Health Care 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 Health Care's mutual fund expected returns. We can calculate the autocorrelation of Health Care returns to help us make a trade decision. For example, suppose you find that Health Care 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 |
Health Care 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 Health Care mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Health Care mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Health Care mutual fund over time.
Current vs Lagged Prices |
Timeline |
Health Care Lagged Returns
When evaluating Health Care's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Health Care mutual fund have on its future price. Health Care 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, Health Care autocorrelation shows the relationship between Health Care mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Health Care Fund.
Regressed Prices |
Timeline |
Currently Active Assets on Macroaxis
Check out Health Care Correlation, Health Care Volatility and Health Care Alpha and Beta module to complement your research on Health Care. Note that the Health Care Fund information on this page should be used as a complementary analysis to other Health Care's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Health Care 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.