Commonwealth Japan Fund Market Value
| CNJFX Fund | USD 3.79 0.01 0.26% |
| Symbol | Commonwealth |
Commonwealth Japan '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 Japan'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 Japan.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Commonwealth Japan on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Commonwealth Japan Fund or generate 0.0% return on investment in Commonwealth Japan over 30 days. Commonwealth Japan is related to or competes with Hennessy Japan, Hennessy Japan, Wasatch Emerging, and Global Opportunity. Under normal market conditions, the fund invests at least 80 percent of its net assets in the securities of, and deposit... More
Commonwealth Japan 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 Japan'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 Japan Fund upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 7.72 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 2.09 |
Commonwealth Japan Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Commonwealth Japan's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Commonwealth Japan's standard deviation. In reality, there are many statistical measures that can use Commonwealth Japan historical prices to predict the future Commonwealth Japan's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.29) | |||
| Treynor Ratio | (0.17) |
Commonwealth Japan Backtested Returns
Commonwealth Japan secures Sharpe Ratio (or Efficiency) of -0.0766, which signifies that the fund had a -0.0766% return per unit of risk over the last 3 months. Commonwealth Japan Fund exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Commonwealth Japan's Risk Adjusted Performance of (0.05), mean deviation of 0.8989, and Standard Deviation of 1.24 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.57, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Commonwealth Japan's returns are expected to increase less than the market. However, during the bear market, the loss of holding Commonwealth Japan is expected to be smaller as well.
Auto-correlation | -0.06 |
Very weak reverse predictability
Commonwealth Japan Fund has very weak reverse predictability. Overlapping area represents the amount of predictability between Commonwealth Japan time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Japan price movement. The serial correlation of -0.06 indicates that barely 6.0% of current Commonwealth Japan price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Commonwealth Japan lagged returns against current returns
Autocorrelation, which is Commonwealth Japan 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 Japan's mutual fund expected returns. We can calculate the autocorrelation of Commonwealth Japan returns to help us make a trade decision. For example, suppose you find that Commonwealth Japan 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 Japan 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 Japan mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Commonwealth Japan 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 Japan mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Commonwealth Japan Lagged Returns
When evaluating Commonwealth Japan's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Commonwealth Japan mutual fund have on its future price. Commonwealth Japan 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 Japan autocorrelation shows the relationship between Commonwealth Japan mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Commonwealth Japan 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 Commonwealth Mutual Fund
Commonwealth Japan 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 Japan security.
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