Commonwealth Australianew Zealand Fund Market Value
| CNZLX Fund | USD 11.08 0.01 0.09% |
| Symbol | Commonwealth |
Commonwealth Australia/new '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 Australia/new'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 Australia/new.
| 05/31/2024 |
| 11/27/2024 |
If you would invest 0.00 in Commonwealth Australia/new on May 31, 2024 and sell it all today you would earn a total of 0.00 from holding Commonwealth Australianew Zealand or generate 0.0% return on investment in Commonwealth Australia/new over 180 days. Commonwealth Australia/new is related to or competes with Commonwealth Japan, Matthews Asian, Guinness Atkinson, Morningstar Unconstrained, Thrivent High, High-yield Municipal, and Via Renewables. The fund normally invests at least 80 percent of its net assets in the securities of, and depositary receipts , Global D... More
Commonwealth Australia/new 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 Australia/new'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 Australianew Zealand upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 4.03 | |||
| Value At Risk | (1.41) | |||
| Potential Upside | 1.49 |
Commonwealth Australia/new Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Commonwealth Australia/new's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Commonwealth Australia/new's standard deviation. In reality, there are many statistical measures that can use Commonwealth Australia/new historical prices to predict the future Commonwealth Australia/new's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | (6.27) |
Commonwealth Australia/new Backtested Returns
Commonwealth Australia/new secures Sharpe Ratio (or Efficiency) of -0.0442, which signifies that the fund had a -0.0442% return per unit of risk over the last 3 months. Commonwealth Australianew Zealand exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Commonwealth Australia/new's Mean Deviation of 0.6069, standard deviation of 0.8049, and Risk Adjusted Performance of (0.05) to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0107, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Commonwealth Australia/new's returns are expected to increase less than the market. However, during the bear market, the loss of holding Commonwealth Australia/new is expected to be smaller as well.
Auto-correlation | -0.73 |
Almost perfect reverse predictability
Commonwealth Australianew Zealand has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Commonwealth Australia/new time series from 31st of May 2024 to 29th of August 2024 and 29th of August 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 Australia/new price movement. The serial correlation of -0.73 indicates that around 73.0% of current Commonwealth Australia/new price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.73 | |
| Spearman Rank Test | -0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Commonwealth Australia/new lagged returns against current returns
Autocorrelation, which is Commonwealth Australia/new 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 Australia/new's mutual fund expected returns. We can calculate the autocorrelation of Commonwealth Australia/new returns to help us make a trade decision. For example, suppose you find that Commonwealth Australia/new 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 Australia/new 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 Australia/new mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Commonwealth Australia/new 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 Australia/new mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Commonwealth Australia/new Lagged Returns
When evaluating Commonwealth Australia/new's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Commonwealth Australia/new mutual fund have on its future price. Commonwealth Australia/new 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 Australia/new autocorrelation shows the relationship between Commonwealth Australia/new mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Commonwealth Australianew Zealand.
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 Australia/new 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 Australia/new security.
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