World Growth Fund Market Value
| USAWX Fund | USD 32.19 0.07 0.22% |
| Symbol | World |
World Growth '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 World Growth'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 World Growth.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in World Growth on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding World Growth Fund or generate 0.0% return on investment in World Growth over 720 days. World Growth is related to or competes with Commonwealth Australia/new, Commonwealth Japan, Commonwealth Real, HUMANA, Barloworld, Morningstar Unconstrained, and Thrivent High. The fund invests its assets primarily in equity securities of both foreign and domestic issuers More
World Growth 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 World Growth'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 World Growth Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.825 | |||
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 3.54 | |||
| Value At Risk | (1.20) | |||
| Potential Upside | 1.2 |
World Growth Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for World Growth's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as World Growth's standard deviation. In reality, there are many statistical measures that can use World Growth historical prices to predict the future World Growth's volatility.| Risk Adjusted Performance | 0.0524 | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.1) | |||
| Treynor Ratio | 0.0558 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of World Growth'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.
World Growth Backtested Returns
At this stage we consider World Mutual Fund to be very steady. World Growth shows Sharpe Ratio of 0.071, which attests that the fund had a 0.071% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for World Growth, which you can use to evaluate the volatility of the fund. Please check out World Growth's Downside Deviation of 0.825, market risk adjusted performance of 0.0658, and Mean Deviation of 0.5493 to validate if the risk estimate we provide is consistent with the expected return of 0.0536%. The entity maintains a market beta of 0.74, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, World Growth's returns are expected to increase less than the market. However, during the bear market, the loss of holding World Growth is expected to be smaller as well.
Auto-correlation | 0.77 |
Good predictability
World Growth Fund has good predictability. Overlapping area represents the amount of predictability between World Growth time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 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 World Growth price movement. The serial correlation of 0.77 indicates that around 77.0% of current World Growth price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 3.67 |
World Growth lagged returns against current returns
Autocorrelation, which is World Growth 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 World Growth's mutual fund expected returns. We can calculate the autocorrelation of World Growth returns to help us make a trade decision. For example, suppose you find that World Growth 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 |
World Growth 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 World Growth mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if World Growth mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in World Growth mutual fund over time.
Current vs Lagged Prices |
| Timeline |
World Growth Lagged Returns
When evaluating World Growth's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of World Growth mutual fund have on its future price. World Growth 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, World Growth autocorrelation shows the relationship between World Growth mutual fund current value and its past values and can show if there is a momentum factor associated with investing in World Growth Fund.
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 World Mutual Fund
World Growth financial ratios help investors to determine whether World 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 World with respect to the benefits of owning World Growth security.
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