China Fund Market Value
| CHN Fund | USD 11.55 0.03 0.26% |
| Symbol | China |
China Fund '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 China Fund'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 China Fund.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in China Fund on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding China Fund or generate 0.0% return on investment in China Fund over 30 days. China Fund is related to or competes with Ashmore Group, Mexico Equity, Western Asset, Blackrock Muniholdings, Korea Closed, Aberdeen Japan, and Swiss Helvetia. The China Fund, Inc. is a closed ended equity mutual fund launched and managed by Allianz Global Investors U.S More
China Fund 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 China Fund'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 China Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.5 | |||
| Information Ratio | 0.0571 | |||
| Maximum Drawdown | 18.26 | |||
| Value At Risk | (3.91) | |||
| Potential Upside | 5.79 |
China Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for China Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as China Fund's standard deviation. In reality, there are many statistical measures that can use China Fund historical prices to predict the future China Fund's volatility.| Risk Adjusted Performance | 0.086 | |||
| Jensen Alpha | 0.2634 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.0657 | |||
| Treynor Ratio | 1.59 |
China Fund Backtested Returns
China Fund appears to be not too volatile, given 3 months investment horizon. China Fund 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-nine technical indicators for China Fund, which you can use to evaluate the volatility of the entity. Please makes use of China Fund's Mean Deviation of 1.98, downside deviation of 2.5, and Risk Adjusted Performance of 0.086 to double-check if our risk estimates are consistent with your expectations. The fund shows a Beta (market volatility) of 0.18, which signifies not very significant fluctuations relative to the market. As returns on the market increase, China Fund's returns are expected to increase less than the market. However, during the bear market, the loss of holding China Fund is expected to be smaller as well.
Auto-correlation | -0.23 |
Weak reverse predictability
China Fund has weak reverse predictability. Overlapping area represents the amount of predictability between China Fund time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 China Fund price movement. The serial correlation of -0.23 indicates that over 23.0% of current China Fund price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.23 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
China Fund lagged returns against current returns
Autocorrelation, which is China Fund 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 China Fund's fund expected returns. We can calculate the autocorrelation of China Fund returns to help us make a trade decision. For example, suppose you find that China Fund 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 |
China Fund 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 China Fund fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if China Fund fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in China Fund fund over time.
Current vs Lagged Prices |
| Timeline |
China Fund Lagged Returns
When evaluating China Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of China Fund fund have on its future price. China Fund 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, China Fund autocorrelation shows the relationship between China Fund fund current value and its past values and can show if there is a momentum factor associated with investing in China Fund.
Regressed Prices |
| Timeline |
Pair Trading with China Fund
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if China Fund position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in China Fund will appreciate offsetting losses from the drop in the long position's value.Moving together with China Fund
| 0.69 | SMPIX | Semiconductor Ultrasector | PairCorr |
| 0.69 | SMPSX | Semiconductor Ultrasector | PairCorr |
| 0.86 | RSNRX | Victory Global Natural | PairCorr |
| 0.86 | RSNYX | Victory Global Natural | PairCorr |
| 0.7 | FIKGX | Fidelity Advisor Sem | PairCorr |
The ability to find closely correlated positions to China Fund could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace China Fund when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back China Fund - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling China Fund to buy it.
The correlation of China Fund is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as China Fund moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if China Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for China Fund can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in China Fund
China Fund financial ratios help investors to determine whether China 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 China with respect to the benefits of owning China Fund security.
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