Global Growth Fund Market Value
| AGORX Fund | USD 10.06 0.17 1.72% |
| Symbol | Global |
Global 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 Global 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 Global Growth.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Global Growth on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Global Growth Fund or generate 0.0% return on investment in Global Growth over 30 days. Global Growth is related to or competes with Marsico 21st, Northern Small, Aberdeen Select, HUMANA, Barloworld, Morningstar Unconstrained, and High Yield. The fund invests primarily in companies located in developed countries world-wide More
Global 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 Global 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 Global Growth Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7731 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 4.07 | |||
| Value At Risk | (1.21) | |||
| Potential Upside | 1.65 |
Global Growth Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Global Growth's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Global Growth's standard deviation. In reality, there are many statistical measures that can use Global Growth historical prices to predict the future Global Growth's volatility.| Risk Adjusted Performance | 0.0643 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0684 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Global 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.
Global Growth Backtested Returns
We consider Global Growth very steady. Global Growth holds Efficiency (Sharpe) Ratio of 0.0727, which attests that the entity had a 0.0727% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Global Growth, which you can use to evaluate the volatility of the entity. Please check out Global Growth's Risk Adjusted Performance of 0.0643, market risk adjusted performance of 0.0784, and Downside Deviation of 0.7731 to validate if the risk estimate we provide is consistent with the expected return of 0.0614%. The fund retains a Market Volatility (i.e., Beta) of 1.06, which attests to a somewhat significant risk relative to the market. Global Growth returns are very sensitive to returns on the market. As the market goes up or down, Global Growth is expected to follow.
Auto-correlation | 0.65 |
Good predictability
Global Growth Fund has good predictability. Overlapping area represents the amount of predictability between Global Growth time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 to 24th 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 Global Growth price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Global Growth price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Global Growth lagged returns against current returns
Autocorrelation, which is Global 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 Global Growth's mutual fund expected returns. We can calculate the autocorrelation of Global Growth returns to help us make a trade decision. For example, suppose you find that Global 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 |
Global 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 Global Growth mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Global 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 Global Growth mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Global Growth Lagged Returns
When evaluating Global Growth's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Global Growth mutual fund have on its future price. Global 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, Global Growth autocorrelation shows the relationship between Global Growth mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Global Growth Fund.
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 Global Growth 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, Global Growth's short interest history, or implied volatility extrapolated from Global Growth options trading.
Pair Trading with Global Growth
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 Global Growth 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 Global Growth will appreciate offsetting losses from the drop in the long position's value.Moving together with Global Mutual Fund
| 0.82 | AMDVX | Mid Cap Value | PairCorr |
| 0.98 | AMEIX | Equity Growth | PairCorr |
| 0.94 | AMGIX | Income Growth | PairCorr |
| 0.89 | AMKIX | Emerging Markets | PairCorr |
The ability to find closely correlated positions to Global Growth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global Growth 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 Global Growth - 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 Global Growth Fund to buy it.
The correlation of Global Growth 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 Global Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global Growth 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 Global Growth 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 Global Growth Correlation, Global Growth Volatility and Global Growth Alpha and Beta module to complement your research on Global Growth. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Global Growth 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.