Discovery Aggressive (South Africa) Market Value
| 0P00017KS6 | 1.64 0.01 0.61% |
| Symbol | Discovery |
Discovery Aggressive '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 Discovery Aggressive's 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 Discovery Aggressive.
| 09/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Discovery Aggressive on September 30, 2024 and sell it all today you would earn a total of 0.00 from holding Discovery Aggressive Dynamic or generate 0.0% return on investment in Discovery Aggressive over 60 days.
Discovery Aggressive 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 Discovery Aggressive's 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 Discovery Aggressive Dynamic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6475 | |||
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 1.87 | |||
| Value At Risk | (0.62) | |||
| Potential Upside | 0.6369 |
Discovery Aggressive Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Discovery Aggressive's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Discovery Aggressive's standard deviation. In reality, there are many statistical measures that can use Discovery Aggressive historical prices to predict the future Discovery Aggressive's volatility.| Risk Adjusted Performance | 0.089 | |||
| Jensen Alpha | 0.0387 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.10) | |||
| Treynor Ratio | 0.6221 |
Discovery Aggressive Backtested Returns
At this point, Discovery Aggressive is somewhat reliable. Discovery Aggressive secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the fund had a 0.13% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Discovery Aggressive Dynamic, which you can use to evaluate the volatility of the entity. Please confirm Discovery Aggressive's Coefficient Of Variation of 800.9, mean deviation of 0.3305, and Downside Deviation of 0.6475 to check if the risk estimate we provide is consistent with the expected return of 0.0593%. The fund shows a Beta (market volatility) of 0.0764, which means not very significant fluctuations relative to the market. As returns on the market increase, Discovery Aggressive's returns are expected to increase less than the market. However, during the bear market, the loss of holding Discovery Aggressive is expected to be smaller as well.
Auto-correlation | 0.26 |
Poor predictability
Discovery Aggressive Dynamic has poor predictability. Overlapping area represents the amount of predictability between Discovery Aggressive time series from 30th of September 2024 to 30th of October 2024 and 30th of October 2024 to 29th 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 Discovery Aggressive price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Discovery Aggressive price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Discovery Aggressive lagged returns against current returns
Autocorrelation, which is Discovery Aggressive 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 Discovery Aggressive's fund expected returns. We can calculate the autocorrelation of Discovery Aggressive returns to help us make a trade decision. For example, suppose you find that Discovery Aggressive has exhibited high autocorrelation historically, and you observe that the 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 |
Discovery Aggressive 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 Discovery Aggressive fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Discovery Aggressive fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Discovery Aggressive fund over time.
Current vs Lagged Prices |
| Timeline |
Discovery Aggressive Lagged Returns
When evaluating Discovery Aggressive's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Discovery Aggressive fund have on its future price. Discovery Aggressive 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, Discovery Aggressive autocorrelation shows the relationship between Discovery Aggressive fund current value and its past values and can show if there is a momentum factor associated with investing in Discovery Aggressive Dynamic.
Regressed Prices |
| Timeline |
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