Hennessy Japan Small Fund Market Value
| HJPSX Fund | USD 17.37 0.21 1.22% |
| Symbol | Hennessy |
Hennessy Japan '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 Japan'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 Japan.
| 05/04/2023 |
| 11/24/2024 |
If you would invest 0.00 in Hennessy Japan on May 4, 2023 and sell it all today you would earn a total of 0.00 from holding Hennessy Japan Small or generate 0.0% return on investment in Hennessy Japan over 570 days. Hennessy Japan is related to or competes with Hennessy Japan, Hennessy Japan, Wasatch Emerging, and Global Opportunity. The fund invests at least 80 percent of its net assets in equity securities of smaller Japanese companies, typically con... More
Hennessy Japan 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 Japan'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 Japan Small upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.09 | |||
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 6.1 | |||
| Value At Risk | (1.59) | |||
| Potential Upside | 1.73 |
Hennessy Japan Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hennessy Japan's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hennessy Japan's standard deviation. In reality, there are many statistical measures that can use Hennessy Japan historical prices to predict the future Hennessy Japan's volatility.| Risk Adjusted Performance | 0.0231 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | (0.09) | |||
| Treynor Ratio | 0.0385 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hennessy Japan'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.
Hennessy Japan Small Backtested Returns
At this stage we consider Hennessy Mutual Fund to be very steady. Hennessy Japan Small holds Efficiency (Sharpe) Ratio of 0.0078, which attests that the entity had a 0.0078% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Hennessy Japan Small, which you can use to evaluate the volatility of the entity. Please check out Hennessy Japan's Downside Deviation of 1.09, market risk adjusted performance of 0.0485, and Risk Adjusted Performance of 0.0231 to validate if the risk estimate we provide is consistent with the expected return of 0.0085%. The fund retains a Market Volatility (i.e., Beta) of 0.49, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Hennessy Japan's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hennessy Japan is expected to be smaller as well.
Auto-correlation | 0.25 |
Poor predictability
Hennessy Japan Small has poor predictability. Overlapping area represents the amount of predictability between Hennessy Japan time series from 4th of May 2023 to 13th of February 2024 and 13th of February 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 Hennessy Japan Small price movement. The serial correlation of 0.25 indicates that over 25.0% of current Hennessy Japan price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.25 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 0.18 |
Hennessy Japan Small lagged returns against current returns
Autocorrelation, which is Hennessy Japan 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 Japan's mutual fund expected returns. We can calculate the autocorrelation of Hennessy Japan returns to help us make a trade decision. For example, suppose you find that Hennessy Japan 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 Japan 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 Japan mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hennessy Japan 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 Japan mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Hennessy Japan Lagged Returns
When evaluating Hennessy Japan's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hennessy Japan mutual fund have on its future price. Hennessy Japan 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 Japan autocorrelation shows the relationship between Hennessy Japan mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Hennessy Japan Small.
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 Japan 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 Japan security.
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