Commonwealth Global Fund Market Value

CNGLX Fund  USD 21.41  0.27  1.28%   
Commonwealth Global's market value is the price at which a share of Commonwealth Global trades on a public exchange. It measures the collective expectations of Commonwealth Global Fund investors about its performance. Commonwealth Global is trading at 21.41 as of the 26th of November 2024; that is 1.28 percent increase since the beginning of the trading day. The fund's open price was 21.14.
With this module, you can estimate the performance of a buy and hold strategy of Commonwealth Global Fund and determine expected loss or profit from investing in Commonwealth Global over a given investment horizon. Check out Commonwealth Global Correlation, Commonwealth Global Volatility and Commonwealth Global Alpha and Beta module to complement your research on Commonwealth Global.
Symbol

Please note, there is a significant difference between Commonwealth Global's value and its price as these two are different measures arrived at by different means. Investors typically determine if Commonwealth Global is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Commonwealth Global's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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.
0.00
12/07/2022
No Change 0.00  0.0 
In 1 year 11 months and 22 days
11/26/2024
0.00
If you would invest  0.00  in Commonwealth Global on December 7, 2022 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 720 days. Commonwealth Global is related to or competes with Commonwealth Australia/new, Commonwealth Japan, Commonwealth Real, Gamco Global, 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.

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.
Hype
Prediction
LowEstimatedHigh
20.6721.4122.15
Details
Intrinsic
Valuation
LowRealHigh
20.6321.3722.11
Details
Naive
Forecast
LowNextHigh
20.3221.0521.79
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
20.8821.2821.68
Details

Commonwealth Global Backtested Returns

Commonwealth Global secures Sharpe Ratio (or Efficiency) of -0.0113, which signifies that the fund had a -0.0113% return per unit of risk over the last 3 months. Commonwealth Global Fund exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Commonwealth Global's Mean Deviation of 0.5381, risk adjusted performance of 0.015, and Downside Deviation of 0.8138 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.83, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Commonwealth Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding Commonwealth Global is expected to be smaller as well.

Auto-correlation

    
  0.14  

Insignificant predictability

Commonwealth Global Fund has insignificant predictability. Overlapping area represents the amount of predictability between Commonwealth Global time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 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 Commonwealth Global price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Commonwealth Global price fluctuation can be explain by its past prices.
Correlation Coefficient0.14
Spearman Rank Test0.1
Residual Average0.0
Price Variance0.72

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  

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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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