Commonwealth Global Fund Market Value
| CNGLX Fund | USD 21.59 0.09 0.42% |
| Symbol | Commonwealth |
Commonwealth Global '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 Global'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 Global.
| 10/11/2024 |
| 11/10/2024 |
If you would invest 0.00 in Commonwealth Global on October 11, 2024 and sell it all today you would earn a total of 0.00 from holding Commonwealth Global Fund or generate 0.0% return on investment in Commonwealth Global over 30 days. Commonwealth Global is related to or competes with Commonwealth Australianew, Commonwealth Japan, Commonwealth Real, and Buffalo Growth. The fund invests primarily in U.S. and foreign equity securities and in debt securities More
Commonwealth Global 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 Global'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 Global Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7923 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 3.95 | |||
| Value At Risk | (1.02) | |||
| Potential Upside | 1.54 |
Commonwealth Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Commonwealth Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Commonwealth Global's standard deviation. In reality, there are many statistical measures that can use Commonwealth Global historical prices to predict the future Commonwealth Global's volatility.| Risk Adjusted Performance | 0.0742 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.12) | |||
| Treynor Ratio | 0.075 |
Commonwealth Global Backtested Returns
At this stage we consider Commonwealth Mutual Fund to be very steady. Commonwealth Global secures Sharpe Ratio (or Efficiency) of 0.11, which signifies that the fund had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Commonwealth Global Fund, which you can use to evaluate the volatility of the entity. Please confirm Commonwealth Global's Downside Deviation of 0.7923, mean deviation of 0.5525, and Risk Adjusted Performance of 0.0742 to double-check if the risk estimate we provide is consistent with the expected return of 0.0819%. The fund shows a Beta (market volatility) of 0.86, which signifies possible diversification benefits within a given portfolio. Commonwealth Global returns are very sensitive to returns on the market. As the market goes up or down, Commonwealth Global is expected to follow.
Auto-correlation | -0.91 |
Near perfect reversele predictability
Commonwealth Global Fund has near perfect reversele predictability. Overlapping area represents the amount of predictability between Commonwealth Global time series from 11th of October 2024 to 26th of October 2024 and 26th of October 2024 to 10th of November 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 Global price movement. The serial correlation of -0.91 indicates that approximately 91.0% of current Commonwealth Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.91 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Commonwealth Global lagged returns against current returns
Autocorrelation, which is Commonwealth Global 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 Global's mutual fund expected returns. We can calculate the autocorrelation of Commonwealth Global returns to help us make a trade decision. For example, suppose you find that Commonwealth Global 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 Global 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 Global mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Commonwealth Global 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 Global mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Commonwealth Global Lagged Returns
When evaluating Commonwealth Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Commonwealth Global mutual fund have on its future price. Commonwealth Global 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 Global autocorrelation shows the relationship between Commonwealth Global mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Commonwealth Global Fund.
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.Other Information on Investing in Commonwealth Mutual Fund
Commonwealth Global financial ratios help investors to determine whether Commonwealth Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Commonwealth with respect to the benefits of owning Commonwealth Global security.
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