Health Care Ultrasector Fund Market Value
| HCPSX Fund | USD 86.24 0.59 0.69% |
| Symbol | Health |
Health Care '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 Health Care'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 Health Care.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Health Care on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Health Care Ultrasector or generate 0.0% return on investment in Health Care over 720 days. Health Care is related to or competes with Semiconductor Ultrasector, and Pharmaceuticals Ultrasector. The fund invests in financial instruments that the fund advisors believes, in combination, should produce daily returns ... More
Health Care 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 Health Care'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 Health Care Ultrasector upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.28) | |||
| Maximum Drawdown | 4.32 | |||
| Value At Risk | (2.02) | |||
| Potential Upside | 1.23 |
Health Care Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Health Care's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Health Care's standard deviation. In reality, there are many statistical measures that can use Health Care historical prices to predict the future Health Care's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.32) | |||
| Treynor Ratio | (0.19) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Health Care's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Health Care Ultrasector Backtested Returns
Health Care Ultrasector holds Efficiency (Sharpe) Ratio of -0.16, which attests that the entity had a -0.16% return per unit of standard deviation over the last 3 months. Health Care Ultrasector exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Health Care's risk adjusted performance of (0.11), and Market Risk Adjusted Performance of (0.18) to validate the risk estimate we provide. The fund retains a Market Volatility (i.e., Beta) of 0.8, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Health Care's returns are expected to increase less than the market. However, during the bear market, the loss of holding Health Care is expected to be smaller as well.
Auto-correlation | -0.45 |
Modest reverse predictability
Health Care Ultrasector has modest reverse predictability. Overlapping area represents the amount of predictability between Health Care time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd of December 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 Health Care Ultrasector price movement. The serial correlation of -0.45 indicates that just about 45.0% of current Health Care price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 18.81 |
Health Care Ultrasector lagged returns against current returns
Autocorrelation, which is Health Care 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 Health Care's mutual fund expected returns. We can calculate the autocorrelation of Health Care returns to help us make a trade decision. For example, suppose you find that Health Care 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 |
Health Care 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 Health Care mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Health Care mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Health Care mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Health Care Lagged Returns
When evaluating Health Care's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Health Care mutual fund have on its future price. Health Care 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, Health Care autocorrelation shows the relationship between Health Care mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Health Care Ultrasector.
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 Health Mutual Fund
Health Care financial ratios help investors to determine whether Health 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 Health with respect to the benefits of owning Health Care security.
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