Parnassus Fund Inst Fund Market Value
| PFPRX Fund | USD 64.38 0.81 1.24% |
| Symbol | Parnassus |
Parnassus Fund '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 Parnassus Fund'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 Parnassus Fund.
| 11/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Parnassus Fund on November 29, 2023 and sell it all today you would earn a total of 0.00 from holding Parnassus Fund Inst or generate 0.0% return on investment in Parnassus Fund over 360 days. Parnassus Fund is related to or competes with Parnassus Endeavor, Parnassus Fund, Parnassus Equity, Parnassus Mid, and Select Fund. The fund normally invests at least 80 percent of its net assets in mid-sized growth companies More
Parnassus Fund 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 Parnassus Fund'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 Parnassus Fund Inst upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.04 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 4.57 | |||
| Value At Risk | (1.28) | |||
| Potential Upside | 1.39 |
Parnassus Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Fund's standard deviation. In reality, there are many statistical measures that can use Parnassus Fund historical prices to predict the future Parnassus Fund's volatility.| Risk Adjusted Performance | 0.0664 | |||
| Jensen Alpha | 0.0592 | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.8413 |
Parnassus Fund Inst Backtested Returns
At this stage we consider Parnassus Mutual Fund to be very steady. Parnassus Fund Inst maintains Sharpe Ratio (i.e., Efficiency) of 0.0854, which implies the entity had a 0.0854% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Parnassus Fund Inst, which you can use to evaluate the volatility of the fund. Please check Parnassus Fund's Semi Deviation of 0.9413, coefficient of variation of 1187.31, and Risk Adjusted Performance of 0.0664 to confirm if the risk estimate we provide is consistent with the expected return of 0.0809%. The fund holds a Beta of 0.0822, which implies not very significant fluctuations relative to the market. As returns on the market increase, Parnassus Fund's returns are expected to increase less than the market. However, during the bear market, the loss of holding Parnassus Fund is expected to be smaller as well.
Auto-correlation | 0.64 |
Good predictability
Parnassus Fund Inst has good predictability. Overlapping area represents the amount of predictability between Parnassus Fund time series from 29th of November 2023 to 27th of May 2024 and 27th of May 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 Parnassus Fund Inst price movement. The serial correlation of 0.64 indicates that roughly 64.0% of current Parnassus Fund price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.64 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 5.39 |
Parnassus Fund Inst lagged returns against current returns
Autocorrelation, which is Parnassus Fund 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 Parnassus Fund's mutual fund expected returns. We can calculate the autocorrelation of Parnassus Fund returns to help us make a trade decision. For example, suppose you find that Parnassus Fund 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 |
Parnassus Fund 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 Parnassus Fund mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Fund mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parnassus Fund mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Fund Lagged Returns
When evaluating Parnassus Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Fund mutual fund have on its future price. Parnassus Fund 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, Parnassus Fund autocorrelation shows the relationship between Parnassus Fund mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Fund Inst.
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 Parnassus Mutual Fund
Parnassus Fund financial ratios help investors to determine whether Parnassus 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 Parnassus with respect to the benefits of owning Parnassus Fund security.
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