Eventide Healthcare Life Fund Market Value
| ETNHX Fund | USD 34.23 0.43 1.27% |
| Symbol | Eventide |
Eventide Healthcare '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 Eventide Healthcare'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 Eventide Healthcare.
| 08/02/2023 |
| 11/24/2024 |
If you would invest 0.00 in Eventide Healthcare on August 2, 2023 and sell it all today you would earn a total of 0.00 from holding Eventide Healthcare Life or generate 0.0% return on investment in Eventide Healthcare over 480 days. Eventide Healthcare is related to or competes with Eventide Gilead, Eventide Healthcare, Morgan Stanley, Berkshire Focus, and Eventide Gilead. Under normal market conditions, the fund invests at least 80 percent of its net assets in equity and equity-related secu... More
Eventide Healthcare 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 Eventide Healthcare'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 Eventide Healthcare Life upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 7.57 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 1.92 |
Eventide Healthcare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eventide Healthcare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eventide Healthcare's standard deviation. In reality, there are many statistical measures that can use Eventide Healthcare historical prices to predict the future Eventide Healthcare's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | (0.06) |
Eventide Healthcare Life Backtested Returns
Eventide Healthcare Life secures Sharpe Ratio (or Efficiency) of -0.0645, which denotes the fund had a -0.0645% return per unit of risk over the last 3 months. Eventide Healthcare Life exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eventide Healthcare's Standard Deviation of 1.32, mean deviation of 0.9823, and Variance of 1.74 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 1.08, which means a somewhat significant risk relative to the market. Eventide Healthcare returns are very sensitive to returns on the market. As the market goes up or down, Eventide Healthcare is expected to follow.
Auto-correlation | 0.42 |
Average predictability
Eventide Healthcare Life has average predictability. Overlapping area represents the amount of predictability between Eventide Healthcare time series from 2nd of August 2023 to 29th of March 2024 and 29th of March 2024 to 24th 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 Eventide Healthcare Life price movement. The serial correlation of 0.42 indicates that just about 42.0% of current Eventide Healthcare price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.42 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 1.62 |
Eventide Healthcare Life lagged returns against current returns
Autocorrelation, which is Eventide Healthcare 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 Eventide Healthcare's mutual fund expected returns. We can calculate the autocorrelation of Eventide Healthcare returns to help us make a trade decision. For example, suppose you find that Eventide Healthcare 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 |
Eventide Healthcare 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 Eventide Healthcare mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eventide Healthcare mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eventide Healthcare mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Eventide Healthcare Lagged Returns
When evaluating Eventide Healthcare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eventide Healthcare mutual fund have on its future price. Eventide Healthcare 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, Eventide Healthcare autocorrelation shows the relationship between Eventide Healthcare mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Eventide Healthcare Life.
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 Eventide Mutual Fund
Eventide Healthcare financial ratios help investors to determine whether Eventide 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 Eventide with respect to the benefits of owning Eventide Healthcare security.
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