Parnassus Equity Incme Fund Market Value
| PRILX Fund | USD 67.66 0.45 0.67% |
| Symbol | Parnassus |
Parnassus Equity '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 Equity'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 Equity.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Parnassus Equity on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Parnassus Equity Incme or generate 0.0% return on investment in Parnassus Equity over 30 days. Parnassus Equity is related to or competes with Wcm Focused, Parnassus Mid, Pimco Income, Parnassus Endeavor, and Metropolitan West. The funds objective is to achieve both capital appreciation and current income by investing primarily in a diversified p... More
Parnassus Equity 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 Equity'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 Equity Incme upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8197 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 3.75 | |||
| Value At Risk | (1.44) | |||
| Potential Upside | 1.15 |
Parnassus Equity Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Equity's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Equity's standard deviation. In reality, there are many statistical measures that can use Parnassus Equity historical prices to predict the future Parnassus Equity's volatility.| Risk Adjusted Performance | 0.0857 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.1007 |
Parnassus Equity Incme Backtested Returns
At this stage we consider Parnassus Mutual Fund to be very steady. Parnassus Equity Incme maintains Sharpe Ratio (i.e., Efficiency) of 0.14, which implies the entity had a 0.14% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Parnassus Equity Incme, which you can use to evaluate the volatility of the fund. Please check Parnassus Equity's Risk Adjusted Performance of 0.0857, semi deviation of 0.6787, and Coefficient Of Variation of 887.5 to confirm if the risk estimate we provide is consistent with the expected return of 0.11%. The fund holds a Beta of 0.73, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Parnassus Equity's returns are expected to increase less than the market. However, during the bear market, the loss of holding Parnassus Equity is expected to be smaller as well.
Auto-correlation | 0.77 |
Good predictability
Parnassus Equity Incme has good predictability. Overlapping area represents the amount of predictability between Parnassus Equity time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Equity Incme price movement. The serial correlation of 0.77 indicates that around 77.0% of current Parnassus Equity price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.38 |
Parnassus Equity Incme lagged returns against current returns
Autocorrelation, which is Parnassus Equity 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 Equity's mutual fund expected returns. We can calculate the autocorrelation of Parnassus Equity returns to help us make a trade decision. For example, suppose you find that Parnassus Equity 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 Equity 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 Equity mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Equity 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 Equity mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Equity Lagged Returns
When evaluating Parnassus Equity's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Equity mutual fund have on its future price. Parnassus Equity 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 Equity autocorrelation shows the relationship between Parnassus Equity mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Equity Incme.
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 Equity 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 Equity security.
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