361 Global Longshort Fund Market Value
| AGAQX Fund | USD 12.09 0.03 0.25% |
| Symbol | 361 |
361 Global '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 361 Global'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 361 Global.
| 04/29/2022 |
| 04/18/2024 |
If you would invest 0.00 in 361 Global on April 29, 2022 and sell it all today you would earn a total of 0.00 from holding 361 Global Longshort or generate 0.0% return on investment in 361 Global over 720 days. 361 Global is related to or competes with Qs International, Materials Portfolio, JPMorgan Chase, Procter Gamble, Microsoft, and American Express. The sub-adviser invests at least 80 percent of the funds net assets in equity securities and in the securities of compan... More
361 Global 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 361 Global'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 361 Global Longshort upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.532 | |||
| Information Ratio | 0.0067 | |||
| Maximum Drawdown | 2.01 | |||
| Value At Risk | (0.77) | |||
| Potential Upside | 0.6009 |
361 Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 361 Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 361 Global's standard deviation. In reality, there are many statistical measures that can use 361 Global historical prices to predict the future 361 Global's volatility.| Risk Adjusted Performance | 0.0791 | |||
| Jensen Alpha | 0.0257 | |||
| Total Risk Alpha | 0.0166 | |||
| Sortino Ratio | 0.0056 | |||
| Treynor Ratio | 0.0967 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of 361 Global'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.
361 Global Longshort Backtested Returns
We consider 361 Global very steady. 361 Global Longshort retains Efficiency (Sharpe Ratio) of 0.11, which signifies that the fund had a 0.11% return per unit of price deviation over the last 3 months. We have found twenty-seven technical indicators for 361 Global, which you can use to evaluate the volatility of the entity. Please confirm 361 Global's Market Risk Adjusted Performance of 0.1067, coefficient of variation of 756.08, and Standard Deviation of 0.4419 to double-check if the risk estimate we provide is consistent with the expected return of 0.0503%. The entity owns a Beta (Systematic Risk) of 0.5, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, 361 Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding 361 Global is expected to be smaller as well.
Auto-correlation | -0.19 |
Insignificant reverse predictability
361 Global Longshort has insignificant reverse predictability. Overlapping area represents the amount of predictability between 361 Global time series from 29th of April 2022 to 24th of April 2023 and 24th of April 2023 to 18th of April 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 361 Global Longshort price movement. The serial correlation of -0.19 indicates that over 19.0% of current 361 Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | -0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.25 |
361 Global Longshort lagged returns against current returns
Autocorrelation, which is 361 Global 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 361 Global's mutual fund expected returns. We can calculate the autocorrelation of 361 Global returns to help us make a trade decision. For example, suppose you find that 361 Global 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 |
361 Global 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 361 Global mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 361 Global mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 361 Global mutual fund over time.
Current vs Lagged Prices |
| Timeline |
361 Global Lagged Returns
When evaluating 361 Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 361 Global mutual fund have on its future price. 361 Global 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, 361 Global autocorrelation shows the relationship between 361 Global mutual fund current value and its past values and can show if there is a momentum factor associated with investing in 361 Global Longshort.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards 361 Global in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, 361 Global's short interest history, or implied volatility extrapolated from 361 Global options trading.
Pair Trading with 361 Global
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if 361 Global position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in 361 Global will appreciate offsetting losses from the drop in the long position's value.Moving together with 361 Mutual Fund
| 0.94 | ADMZX | 361 Domestic Longshort | PairCorr |
| 0.94 | ADMQX | 361 Domestic Longshort | PairCorr |
| 1.0 | AGAZX | 361 Global Longshort | PairCorr |
| 1.0 | AGAWX | 361 Global Longshort | PairCorr |
The ability to find closely correlated positions to 361 Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 361 Global when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back 361 Global - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling 361 Global Longshort to buy it.
The correlation of 361 Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 361 Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 361 Global Longshort moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for 361 Global can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out 361 Global Correlation, 361 Global Volatility and 361 Global Alpha and Beta module to complement your research on 361 Global. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
361 Global technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.