Nova Fund Investor Fund Market Value
| RYNVX Fund | USD 151.34 1.22 0.81% |
| Symbol | Nova |
Nova 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 Nova 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 Nova Fund.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Nova Fund on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Nova Fund Investor or generate 0.0% return on investment in Nova Fund over 30 days. Nova Fund is related to or competes with Pace Large, Alternative Asset, Aqr Large, Quantitative, William Blair, Gmo Us, and Morningstar Unconstrained. The fund employs as its investment strategy a program of investing in the common stock of companies that are generally w... More
Nova 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 Nova 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 Nova Fund Investor upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.23 | |||
| Information Ratio | 0.0128 | |||
| Maximum Drawdown | 5.76 | |||
| Value At Risk | (1.98) | |||
| Potential Upside | 1.71 |
Nova Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Fund's standard deviation. In reality, there are many statistical measures that can use Nova Fund historical prices to predict the future Nova Fund's volatility.| Risk Adjusted Performance | 0.0846 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | 0.0122 | |||
| Treynor Ratio | 0.0897 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nova Fund'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.
Nova Fund Investor Backtested Returns
At this stage we consider Nova Mutual Fund to be very steady. Nova Fund Investor has Sharpe Ratio of 0.11, which conveys 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 Nova Fund, which you can use to evaluate the volatility of the fund. Please verify Nova Fund's Mean Deviation of 0.8356, risk adjusted performance of 0.0846, and Downside Deviation of 1.23 to check out if the risk estimate we provide is consistent with the expected return of 0.13%. The fund secures a Beta (Market Risk) of 1.28, which conveys 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, Nova Fund will likely underperform.
Auto-correlation | 0.51 |
Modest predictability
Nova Fund Investor has modest predictability. Overlapping area represents the amount of predictability between Nova Fund time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 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 Nova Fund Investor price movement. The serial correlation of 0.51 indicates that about 51.0% of current Nova Fund price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 2.39 |
Nova Fund Investor lagged returns against current returns
Autocorrelation, which is Nova 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 Nova Fund's mutual fund expected returns. We can calculate the autocorrelation of Nova Fund returns to help us make a trade decision. For example, suppose you find that Nova 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 |
Nova 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 Nova Fund mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova 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 Nova Fund mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nova Fund Lagged Returns
When evaluating Nova Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Fund mutual fund have on its future price. Nova 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, Nova Fund autocorrelation shows the relationship between Nova Fund mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nova Fund Investor.
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 Nova Mutual Fund
Nova Fund financial ratios help investors to determine whether Nova 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 Nova with respect to the benefits of owning Nova Fund security.
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