Hennessy Gas Utility Fund Market Value
| HGASX Fund | USD 29.91 0.01 0.03% |
| Symbol | Hennessy |
Hennessy Gas '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 Gas' 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 Gas.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Hennessy Gas on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Hennessy Gas Utility or generate 0.0% return on investment in Hennessy Gas over 270 days. Hennessy Gas is related to or competes with Ips Strategic, T Rowe, Archer Balanced, L Abbett, Eic Value, and Qs Us. The advisor intends to provide investment results that replicate the performance of the American Gas Association Stock I... More
Hennessy Gas 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 Gas' 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 Gas Utility upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.632 | |||
| Information Ratio | 0.1376 | |||
| Maximum Drawdown | 2.69 | |||
| Value At Risk | (0.91) | |||
| Potential Upside | 1.44 |
Hennessy Gas Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hennessy Gas' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hennessy Gas' standard deviation. In reality, there are many statistical measures that can use Hennessy Gas historical prices to predict the future Hennessy Gas' volatility.| Risk Adjusted Performance | 0.2469 | |||
| Jensen Alpha | 0.1629 | |||
| Total Risk Alpha | 0.1068 | |||
| Sortino Ratio | 0.1536 | |||
| Treynor Ratio | 0.4793 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hennessy Gas' 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.
Hennessy Gas Utility Backtested Returns
Hennessy Gas appears to be very steady, given 3 months investment horizon. Hennessy Gas Utility holds Efficiency (Sharpe) Ratio of 0.3, which attests that the entity had a 0.3% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Hennessy Gas Utility, which you can use to evaluate the volatility of the entity. Please utilize Hennessy Gas' Risk Adjusted Performance of 0.2469, downside deviation of 0.632, and Market Risk Adjusted Performance of 0.4893 to validate if our risk estimates are consistent with your expectations. The fund retains a Market Volatility (i.e., Beta) of 0.45, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Hennessy Gas' returns are expected to increase less than the market. However, during the bear market, the loss of holding Hennessy Gas is expected to be smaller as well.
Auto-correlation | 0.80 |
Very good predictability
Hennessy Gas Utility has very good predictability. Overlapping area represents the amount of predictability between Hennessy Gas time series from 27th of February 2024 to 11th of July 2024 and 11th of July 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 Gas Utility price movement. The serial correlation of 0.8 indicates that around 80.0% of current Hennessy Gas price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 1.68 |
Hennessy Gas Utility lagged returns against current returns
Autocorrelation, which is Hennessy Gas 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 Gas' mutual fund expected returns. We can calculate the autocorrelation of Hennessy Gas returns to help us make a trade decision. For example, suppose you find that Hennessy Gas 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 Gas 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 Gas mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hennessy Gas 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 Gas mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Hennessy Gas Lagged Returns
When evaluating Hennessy Gas' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hennessy Gas mutual fund have on its future price. Hennessy Gas 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 Gas autocorrelation shows the relationship between Hennessy Gas mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Hennessy Gas Utility.
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 Gas 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 Gas security.
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