Cornerstone Strategic Value Fund Market Value
| CLM Fund | USD 7.29 0.01 0.14% |
| Symbol | Cornerstone |
Cornerstone Strategic '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 Cornerstone Strategic's 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 Cornerstone Strategic.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Cornerstone Strategic on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Cornerstone Strategic Value or generate 0.0% return on investment in Cornerstone Strategic over 30 days. Cornerstone Strategic is related to or competes with BlackRock Floating, and Eaton Vance. Cornerstone Strategic Value Fund, Inc. is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors... More
Cornerstone Strategic 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 Cornerstone Strategic's 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 Cornerstone Strategic Value upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.3 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 5.72 | |||
| Value At Risk | (0.97) | |||
| Potential Upside | 1.03 |
Cornerstone Strategic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cornerstone Strategic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cornerstone Strategic's standard deviation. In reality, there are many statistical measures that can use Cornerstone Strategic historical prices to predict the future Cornerstone Strategic's volatility.| Risk Adjusted Performance | 0.0661 | |||
| Jensen Alpha | 0.012 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.101 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cornerstone Strategic'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.
Cornerstone Strategic Backtested Returns
We consider Cornerstone Strategic not too volatile. Cornerstone Strategic secures Sharpe Ratio (or Efficiency) of 0.13, which signifies that the fund had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Cornerstone Strategic Value, which you can use to evaluate the volatility of the entity. Please confirm Cornerstone Strategic's Risk Adjusted Performance of 0.0661, downside deviation of 1.3, and Mean Deviation of 0.5683 to double-check if the risk estimate we provide is consistent with the expected return of 0.11%. The fund shows a Beta (market volatility) of 0.76, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cornerstone Strategic's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cornerstone Strategic is expected to be smaller as well.
Auto-correlation | -0.69 |
Very good reverse predictability
Cornerstone Strategic Value has very good reverse predictability. Overlapping area represents the amount of predictability between Cornerstone Strategic time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 Cornerstone Strategic price movement. The serial correlation of -0.69 indicates that around 69.0% of current Cornerstone Strategic price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Cornerstone Strategic lagged returns against current returns
Autocorrelation, which is Cornerstone Strategic 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 Cornerstone Strategic's fund expected returns. We can calculate the autocorrelation of Cornerstone Strategic returns to help us make a trade decision. For example, suppose you find that Cornerstone Strategic has exhibited high autocorrelation historically, and you observe that the 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 |
Cornerstone Strategic 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 Cornerstone Strategic fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cornerstone Strategic fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cornerstone Strategic fund over time.
Current vs Lagged Prices |
| Timeline |
Cornerstone Strategic Lagged Returns
When evaluating Cornerstone Strategic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cornerstone Strategic fund have on its future price. Cornerstone Strategic 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, Cornerstone Strategic autocorrelation shows the relationship between Cornerstone Strategic fund current value and its past values and can show if there is a momentum factor associated with investing in Cornerstone Strategic Value.
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 Cornerstone Strategic 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, Cornerstone Strategic's short interest history, or implied volatility extrapolated from Cornerstone Strategic options trading.
Pair Trading with Cornerstone Strategic
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 Cornerstone Strategic 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 Cornerstone Strategic will appreciate offsetting losses from the drop in the long position's value.Moving together with Cornerstone Fund
| 0.88 | CUSHX | Columbia Ultra Short | PairCorr |
| 0.9 | CDAZX | Multi Manager Direct | PairCorr |
| 0.76 | CUURX | Columbia Small Cap | PairCorr |
| 0.91 | CDEYX | Columbia Diversified | PairCorr |
The ability to find closely correlated positions to Cornerstone Strategic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cornerstone Strategic 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 Cornerstone Strategic - 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 Cornerstone Strategic Value to buy it.
The correlation of Cornerstone Strategic 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 Cornerstone Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cornerstone Strategic 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 Cornerstone Strategic 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 Cornerstone Strategic Correlation, Cornerstone Strategic Volatility and Cornerstone Strategic Alpha and Beta module to complement your research on Cornerstone Strategic. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Cornerstone Strategic technical 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.