Azzad Ethical Fund Market Value
| ADJEX Fund | USD 16.88 0.13 0.78% |
| Symbol | Azzad |
Azzad Ethical '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 Azzad Ethical'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 Azzad Ethical.
| 11/02/2024 |
| 01/31/2025 |
If you would invest 0.00 in Azzad Ethical on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Azzad Ethical Fund or generate 0.0% return on investment in Azzad Ethical over 90 days. Azzad Ethical is related to or competes with Iman Fund, Azzad Wise, Amana Developing, Amana Income, and Amana Growth. The ethical fund seeks to achieve its objective by investing primarily in common stocks of mid-capitalization companies ... More
Azzad Ethical 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 Azzad Ethical'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 Azzad Ethical Fund upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 8.53 | |||
| Value At Risk | (1.69) | |||
| Potential Upside | 1.81 |
Azzad Ethical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Azzad Ethical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Azzad Ethical's standard deviation. In reality, there are many statistical measures that can use Azzad Ethical historical prices to predict the future Azzad Ethical's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.17) | |||
| Treynor Ratio | (0.03) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Azzad Ethical'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.
Azzad Ethical Backtested Returns
Azzad Ethical secures Sharpe Ratio (or Efficiency) of -0.0101, which signifies that the fund had a -0.0101 % return per unit of risk over the last 3 months. Azzad Ethical Fund exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Azzad Ethical's Mean Deviation of 0.9116, insignificant risk adjusted performance, and Standard Deviation of 1.34 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.85, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Azzad Ethical's returns are expected to increase less than the market. However, during the bear market, the loss of holding Azzad Ethical is expected to be smaller as well.
Auto-correlation | 0.20 |
Weak predictability
Azzad Ethical Fund has weak predictability. Overlapping area represents the amount of predictability between Azzad Ethical time series from 2nd of November 2024 to 17th of December 2024 and 17th of December 2024 to 31st of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Azzad Ethical price movement. The serial correlation of 0.2 indicates that over 20.0% of current Azzad Ethical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
Azzad Ethical lagged returns against current returns
Autocorrelation, which is Azzad Ethical 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 Azzad Ethical's mutual fund expected returns. We can calculate the autocorrelation of Azzad Ethical returns to help us make a trade decision. For example, suppose you find that Azzad Ethical 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 |
Azzad Ethical 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 Azzad Ethical mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Azzad Ethical mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Azzad Ethical mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Azzad Ethical Lagged Returns
When evaluating Azzad Ethical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Azzad Ethical mutual fund have on its future price. Azzad Ethical 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, Azzad Ethical autocorrelation shows the relationship between Azzad Ethical mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Azzad Ethical 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 Azzad Mutual Fund
Azzad Ethical financial ratios help investors to determine whether Azzad 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 Azzad with respect to the benefits of owning Azzad Ethical security.
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