Nova Fund Competition

RYNHX Fund

USD 159.17 0.04 0.03%

Nova Fund Class competes with Rbb Fund, Hunter Small, Smallcap Fund, Rbc International, and Siit Small; as well as few others. The fund is listed under Trading--Leveraged Equity category and is part of Rydex Funds family. Analyzing Nova Fund competition allows you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Investors sometimes prefer comparable analysis of Nova Fund to its intrinsic valuation because they are able to contrast its competitors on a relative basis. Check out Nova Fund Correlation with its peers.

Nova Fund vs Franklin Small Correlation

Poor diversification

The correlation between Nova Fund Class and FCSGX is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nova Fund Class and FCSGX in the same portfolio, assuming nothing else is changed.

Moving together with Nova Mutual Fund

0.66	RYBKX	Banking Fund Class	Pair Corr
0.73	RYBHX	Sp Midcap 400	Pair Corr

Moving against Nova Mutual Fund

0.99	RYARX	Inverse Sp 500	Pair Corr
0.85	RYACX	Inverse Nasdaq 100	Pair Corr
0.83	RYALX	Inverse Nasdaq 100	Pair Corr
0.83	RYAPX	Inverse Nasdaq 100	Pair Corr
0.82	RYAIX	Inverse Nasdaq 100	Pair Corr

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Hype

Prediction

Low	Estimated	High
158.09	159.17	160.25

Details

Intrinsic

Valuation

Low	Real	High
149.34	150.42	175.09

Details

Naive

Forecast

Low	Next	High
157.21	158.29	159.37

Details

Bollinger

Band Projection (param)

Lower	Middle Band	Upper
154.70	158.43	162.15

Details

Please note, it is not enough to conduct a financial or market analysis of a single entity such as Nova Fund. Your research has to be compared to or analyzed against Nova Fund's peers to derive any actionable benefits. When done correctly, Nova Fund's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Nova Fund Class.

Nova Fund Competition Correlation Matrix

Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between Nova Fund and its competitors represents the degree of relationship between the price movements of corresponding funds. A correlation of about +1.0 implies that the price of Nova and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Nova Fund Class does not affect the price movement of the other competitor.

	WPGSX	HSCVX	PSBMX	RISSX	SECAX	DFUKX	BOSVX	FCSGX
WPGSX		0.96	0.96	0.82	0.96	0.94	0.97	0.92	WPGSX
HSCVX	0.96		0.94	0.67	0.9	0.84	0.93	0.86	HSCVX
PSBMX	0.96	0.94		0.85	0.98	0.91	0.96	0.96	PSBMX
RISSX	0.82	0.67	0.85		0.89	0.88	0.81	0.9	RISSX
SECAX	0.96	0.9	0.98	0.89		0.94	0.97	0.97	SECAX
DFUKX	0.94	0.84	0.91	0.88	0.94		0.91	0.89	DFUKX
BOSVX	0.97	0.93	0.96	0.81	0.97	0.91		0.93	BOSVX
FCSGX	0.92	0.86	0.96	0.9	0.97	0.89	0.93		FCSGX
	WPGSX	HSCVX	PSBMX	RISSX	SECAX	DFUKX	BOSVX	FCSGX

Risk-Adjusted Indicators

There is a big difference between Nova Mutual Fund performing well and Nova Fund Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nova Fund's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WPGSX	0.86	0.12	0.12	0.17	0.80	(1.01)	2.27	(1.46)	4.65
HSCVX	0.69	0.06	0.07	0.13	0.66	(0.82)	2.18	(1.40)	4.16
PSBMX	0.88	0.13	0.12	0.20	0.83	(1.00)	1.79	(1.77)	7.03
RISSX	0.84	0.19	0.20	0.32	0.56	(1.05)	1.31	(1.25)	13.64
SECAX	1.00	0.19	0.19	0.23	0.75	(1.18)	2.21	(1.62)	10.95
DFUKX	0.64	0.10	0.10	0.23	0.58	(0.70)	1.69	(1.01)	3.79
BOSVX	0.97	0.26	0.26	0.34	0.53	(1.20)	2.82	(1.44)	9.52
FCSGX	1.11	0.28	0.26	0.30	0.74	(1.29)	2.03	(1.73)	18.80

Nova Fund Competitive Analysis

The better you understand Nova Fund competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, Nova Fund's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across Nova Fund's competition over several years is one of the best ways to analyze its investment potential.

Better Than Average

Worse Than Peers

View Performance Chart

	RYNHX	WPGSX	HSCVX	PSBMX	RISSX	SECAX	DFUKX	BOSVX	FCSGX
	0.03 159.17 Nova	1.21 12.24 Rbb	1.61 13.41 Hunter	1.56 29.01 Smallcap	0.45 13.37 Rbc	1.62 12.14 Siit	0.92 31.65 United	1.86 19.56 Omni	1.41 15.38 Franklin
Market Volatility (90 Days Market Risk)	Very steady	Very steady	Very steady	Very steady	Not too volatile	Not too volatile	Very steady	Very steady	Not too volatile
Market Performance (90 Days Performance)	Weakest	Good	Good	Good	Fair	Good	Good	Solid	Good
Odds of Financial Distress (Probability Of Bankruptcy)	Low	Low	Low	Low	Low	Low	Low	Low	Low
Current Valuation (Equity Enterprise Value)	Over Valued	Under Valued	Under Valued	Under Valued	Under Valued	Under Valued	Under Valued	Under Valued	Under Valued
Buy or Sell Advice (Average Analysts Consensus)	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available
Trade Advice (90 Days Macroaxis Advice)	Strong Hold	Strong Buy	Buy	Strong Buy	Strong Buy	Strong Buy	Strong Buy	Strong Buy	Strong Buy
Holdings Turnover	N/A	N/A	67.0	N/A	101.0	N/A	N/A	N/A	N/A
Net Asset	259.72 M	62.01 M	47.86 M	726.16 M	5.84 M	467.94 M	39.93 M	918.39 M	2.49 B
Minimum Initial Investment	N/A	N/A	100 K	N/A	2 K	100 K	N/A	N/A	N/A
Price To Book	2.75	N/A	1.31	1.99	N/A	1.69	2.04	1.18	2.67
Five Year Return	16.17	N/A	-1.07	5.58	2.62	8.71	5.73	12.76	0.48
One Year Return	15.93	N/A	31.38	14.29	21.3	16.27	26.76	13.58	4.68
Last Dividend Paid	0.59	N/A	0.01	N/A	0.15	0.02	0.09	0.19	N/A
Price To Earning	18.51	N/A	15.28	17.42	N/A	20.05	14.68	14.72	23.55
Price To Sales	1.93	N/A	0.65	1.04	N/A	0.89	0.96	0.58	1.6
Cash Position Weight	20.23	N/A	0.73	1.33	3.12	9.11	0.27	0.08	2.63
Equity Positions Weight	45.88	N/A	99.27	98.67	96.06	90.9	99.73	99.91	95.53
Three Year Return	27.15	N/A	-9.96	12.13	-0.16	14.74	12.39	10.54	14.47
Annual Yield	0.0085	0.0165	0.008	N/A	0.0179	0.0117	0.0418	0.0153	N/A
Year To Date Return	1.35	N/A	7.23	6.65	3.1	7.81	3.32	5.33	4.37
Bond Positions Weight	3.46	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Ten Year Return	16.29	N/A	7.62	9.81	N/A	N/A	7.56	N/A	12.65
Daily Balance Of Power	9.2 T	0	0	0	9.2 T	0	9.2 T	0	0
Day Typical Price	159.17	12.24	13.41	29.01	13.37	12.14	31.65	19.56	15.38
Period Momentum Indicator	0.04	(0.15)	(0.22)	(0.46)	0.06	(0.20)	0.29	(0.37)	(0.22)
Rate Of Daily Change	1.0	0.99	0.98	0.98	1.0	0.98	1.01	0.98	0.99
Day Median Price	159.17	12.24	13.41	29.01	13.37	12.14	31.65	19.56	15.38
Price Action Indicator	0.02	(0.07)	(0.11)	(0.23)	0.03	(0.10)	0.14	(0.19)	(0.11)
Coefficient Of Variation	2031.97	561.52	694.27	600.31	691.45	574.2	528.27	447.99	646.51
Mean Deviation	0.8104	0.864	0.6868	0.876	0.8372	1.0	0.6392	0.974	1.11
Jensen Alpha	(0.04)	0.1154	0.0602	0.1299	0.1907	0.193	0.1023	0.2584	0.2803
Total Risk Alpha	(0.06)	0.086	0.0376	0.0823	0.0793	0.1211	0.0687	0.1842	0.1384
Sortino Ratio	(0.02)	0.1211	0.0675	0.1186	0.1962	0.1885	0.0984	0.2622	0.2562
Downside Variance	1.63	1.04	0.7121	1.23	0.7817	1.17	0.6132	0.9489	1.33
Standard Deviation	1.09	1.13	0.9395	1.26	1.74	1.62	0.8208	1.5	2.42
Kurtosis	0.5638	0.4705	1.01	7.32	40.19	18.83	0.1878	10.16	42.07
Potential Upside	1.72	2.27	2.18	1.79	1.31	2.21	1.69	2.82	2.03
Treynor Ratio	0.0367	0.1716	0.1316	0.1953	0.3233	0.2338	0.2309	0.3385	0.2967
Maximum Drawdown	5.41	4.65	4.16	7.03	13.64	10.95	3.79	9.52	18.8
Variance	1.19	1.28	0.8827	1.59	3.03	2.63	0.6737	2.24	5.85
Market Risk Adjusted Performance	0.0467	0.1816	0.1416	0.2053	0.3333	0.2438	0.2409	0.3485	0.3067
Risk Adjusted Performance	0.0393	0.1339	0.1077	0.1261	0.1117	0.133	0.1397	0.1685	0.1202
Skewness	(0.57)	0.2592	0.376	1.42	5.6	3.26	0.1247	2.31	5.81
Semi Deviation	1.16	0.802	0.6566	0.8314	0.5557	0.7508	0.5785	0.5318	0.7424
Information Ratio	(0.02)	0.1089	0.0606	0.1044	0.0996	0.1259	0.0938	0.1708	0.1223
Value At Risk	(1.76)	(1.46)	(1.40)	(1.77)	(1.25)	(1.62)	(1.01)	(1.44)	(1.73)
Expected Short fall	(0.77)	(1.01)	(0.82)	(1.00)	(1.05)	(1.18)	(0.70)	(1.20)	(1.29)
Downside Deviation	1.28	1.02	0.8439	1.11	0.8841	1.08	0.783	0.9741	1.16
Semi Variance	1.36	0.6431	0.4311	0.6911	0.3088	0.5637	0.3347	0.2828	0.5511

Nova Fund Competition Performance Charts

Five steps to successful analysis of Nova Fund Competition

Nova Fund's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by Nova Fund Class in relation to its competition. Nova Fund's competition analysis typically involves several steps, including:

Identifying the key players in the market: This involves identifying the major competitors of Nova Fund in the market, both direct and indirect, as well as new entrants and disruptive technologies.
Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact Nova Fund's competitive landscape.
Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to Nova Fund Class, and developing a strategy to address them.
Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.

Competitive analysis is an essential tool for businesses to stay ahead of the competition and can be used to inform decision-making and strategy development. By understanding the competitive landscape and staying informed about the activities of competitors, a company can make more informed decisions and improve its overall performance.

Complement your Nova Fund position

In addition to having Nova Fund in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

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Airlines

Domestic and international airlines and airline services. The Airlines theme has 12 constituents at this time.

You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Airlines Theme or any other thematic opportunities.

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Other Information on Investing in Nova Mutual Fund

Nova Fund financial ratios help investors to determine whether Nova 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 Nova with respect to the benefits of owning Nova Fund security.

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Nova Fund Competition

Nova Fund vs Franklin Small Correlation

Poor diversification

Moving together with Nova Mutual Fund

Moving against Nova Mutual Fund

Specify up to 10 symbols:

Nova Fund Competition Correlation Matrix

Risk-Adjusted Indicators

Nova Fund Competitive Analysis

Nova Fund Competition Performance Charts

Five steps to successful analysis of Nova Fund Competition

Complement your Nova Fund position

Did You Try This Idea?

Run Airlines Thematic Idea Now

Airlines

Other Information on Investing in Nova Mutual Fund

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