Hennessy Nerstone Growth Fund Market Value
| HFCGX Fund | USD 38.78 0.58 1.52% |
| Symbol | Hennessy |
Hennessy Nerstone '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 Hennessy Nerstone'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 Hennessy Nerstone.
| 12/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Hennessy Nerstone on December 29, 2023 and sell it all today you would earn a total of 0.00 from holding Hennessy Nerstone Growth or generate 0.0% return on investment in Hennessy Nerstone over 330 days. Hennessy Nerstone is related to or competes with Hennessy Cornerstone, The Jensen, Meridian Contrarian, and Clipper Fund. The fund may invest in any company whose securities are listed on a U.S More
Hennessy Nerstone 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 Hennessy Nerstone'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 Hennessy Nerstone Growth upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.18 | |||
| Information Ratio | 0.0346 | |||
| Maximum Drawdown | 7.37 | |||
| Value At Risk | (1.45) | |||
| Potential Upside | 2.23 |
Hennessy Nerstone Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hennessy Nerstone's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hennessy Nerstone's standard deviation. In reality, there are many statistical measures that can use Hennessy Nerstone historical prices to predict the future Hennessy Nerstone's volatility.| Risk Adjusted Performance | 0.1083 | |||
| Jensen Alpha | 0.0028 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | 0.0379 | |||
| Treynor Ratio | 0.1229 |
Hennessy Nerstone Growth Backtested Returns
At this stage we consider Hennessy Mutual Fund to be very steady. Hennessy Nerstone Growth holds Efficiency (Sharpe) Ratio of 0.11, which attests that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Hennessy Nerstone Growth, which you can use to evaluate the volatility of the entity. Please check out Hennessy Nerstone's Market Risk Adjusted Performance of 0.1329, downside deviation of 1.18, and Risk Adjusted Performance of 0.1083 to validate if the risk estimate we provide is consistent with the expected return of 0.13%. The fund retains a Market Volatility (i.e., Beta) of 1.35, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Hennessy Nerstone will likely underperform.
Auto-correlation | 0.61 |
Good predictability
Hennessy Nerstone Growth has good predictability. Overlapping area represents the amount of predictability between Hennessy Nerstone time series from 29th of December 2023 to 11th of June 2024 and 11th of June 2024 to 23rd 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 Hennessy Nerstone Growth price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current Hennessy Nerstone price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.61 | |
| Spearman Rank Test | 0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 2.03 |
Hennessy Nerstone Growth lagged returns against current returns
Autocorrelation, which is Hennessy Nerstone 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 Hennessy Nerstone's mutual fund expected returns. We can calculate the autocorrelation of Hennessy Nerstone returns to help us make a trade decision. For example, suppose you find that Hennessy Nerstone 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 |
Hennessy Nerstone 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 Hennessy Nerstone mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hennessy Nerstone mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hennessy Nerstone mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Hennessy Nerstone Lagged Returns
When evaluating Hennessy Nerstone's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hennessy Nerstone mutual fund have on its future price. Hennessy Nerstone 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, Hennessy Nerstone autocorrelation shows the relationship between Hennessy Nerstone mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Hennessy Nerstone Growth.
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 Hennessy Mutual Fund
Hennessy Nerstone financial ratios help investors to determine whether Hennessy 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 Hennessy with respect to the benefits of owning Hennessy Nerstone security.
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