Hennessy Small Cap Fund Market Value
| HISFX Fund | USD 18.10 0.46 2.61% |
| Symbol | Hennessy |
Hennessy Small '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 Small'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 Small.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in Hennessy Small on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding Hennessy Small Cap or generate 0.0% return on investment in Hennessy Small over 720 days. Hennessy Small is related to or competes with Metropolitan West, Western Asset, Pace High, Ab Global, California High-yield, Calvert High, and T Rowe. Under normal circumstances, the fund invests at least 80 percent of its net assets in securities of small-cap companies ... More
Hennessy Small 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 Small'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 Small Cap upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.47 | |||
| Information Ratio | 0.0742 | |||
| Maximum Drawdown | 16.69 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 3.19 |
Hennessy Small Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hennessy Small's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hennessy Small's standard deviation. In reality, there are many statistical measures that can use Hennessy Small historical prices to predict the future Hennessy Small's volatility.| Risk Adjusted Performance | 0.1008 | |||
| Jensen Alpha | 0.0472 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | 0.1125 | |||
| Treynor Ratio | 0.1211 |
Hennessy Small Cap Backtested Returns
Hennessy Small appears to be not too volatile, given 3 months investment horizon. Hennessy Small Cap 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-seven technical indicators for Hennessy Small Cap, which you can use to evaluate the volatility of the entity. Please utilize Hennessy Small's Market Risk Adjusted Performance of 0.1311, risk adjusted performance of 0.1008, and Downside Deviation of 1.47 to validate if our risk estimates are consistent with your expectations. The fund retains a Market Volatility (i.e., Beta) of 2.18, 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 Small will likely underperform.
Auto-correlation | 0.05 |
Virtually no predictability
Hennessy Small Cap has virtually no predictability. Overlapping area represents the amount of predictability between Hennessy Small time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 to 22nd 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 Small Cap price movement. The serial correlation of 0.05 indicates that only as little as 5.0% of current Hennessy Small price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.05 | |
| Spearman Rank Test | -0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 1.82 |
Hennessy Small Cap lagged returns against current returns
Autocorrelation, which is Hennessy Small 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 Small's mutual fund expected returns. We can calculate the autocorrelation of Hennessy Small returns to help us make a trade decision. For example, suppose you find that Hennessy Small 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 Small 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 Small mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hennessy Small 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 Small mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Hennessy Small Lagged Returns
When evaluating Hennessy Small's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hennessy Small mutual fund have on its future price. Hennessy Small 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 Small autocorrelation shows the relationship between Hennessy Small mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Hennessy Small Cap.
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 Small 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 Small security.
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