City National Rochdale Fund Market Value
| CNRVX Fund | USD 24.35 0.18 0.73% |
| Symbol | City |
City National '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 City National'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 City National.
| 05/01/2022 |
| 04/20/2024 |
If you would invest 0.00 in City National on May 1, 2022 and sell it all today you would earn a total of 0.00 from holding City National Rochdale or generate 0.0% return on investment in City National over 720 days. City National is related to or competes with City National, City National, City National, and City National. The fund invests at least 80 percent of its net assets consist of common stock of large and middle capitalization corpor... More
City National 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 City National'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 City National Rochdale upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7779 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 3.44 | |||
| Value At Risk | (1.26) | |||
| Potential Upside | 1.07 |
City National Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for City National's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as City National's standard deviation. In reality, there are many statistical measures that can use City National historical prices to predict the future City National's volatility.| Risk Adjusted Performance | 0.0371 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.0333 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of City National'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.
City National Rochdale Backtested Returns
We consider City National very steady. City National Rochdale secures Sharpe Ratio (or Efficiency) of 0.0196, which signifies that the fund had a 0.0196% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for City National Rochdale, which you can use to evaluate the volatility of the entity. Please confirm City National's Downside Deviation of 0.7779, risk adjusted performance of 0.0371, and Mean Deviation of 0.5594 to double-check if the risk estimate we provide is consistent with the expected return of 0.0142%. The fund shows a Beta (market volatility) of 0.97, which signifies possible diversification benefits within a given portfolio. City National returns are very sensitive to returns on the market. As the market goes up or down, City National is expected to follow.
Auto-correlation | 0.45 |
Average predictability
City National Rochdale has average predictability. Overlapping area represents the amount of predictability between City National time series from 1st of May 2022 to 26th of April 2023 and 26th of April 2023 to 20th 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 City National Rochdale price movement. The serial correlation of 0.45 indicates that just about 45.0% of current City National price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.45 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 2.37 |
City National Rochdale lagged returns against current returns
Autocorrelation, which is City National 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 City National's mutual fund expected returns. We can calculate the autocorrelation of City National returns to help us make a trade decision. For example, suppose you find that City National 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 |
City National 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 City National mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if City National mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in City National mutual fund over time.
Current vs Lagged Prices |
| Timeline |
City National Lagged Returns
When evaluating City National's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of City National mutual fund have on its future price. City National 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, City National autocorrelation shows the relationship between City National mutual fund current value and its past values and can show if there is a momentum factor associated with investing in City National Rochdale.
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 City National 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, City National's short interest history, or implied volatility extrapolated from City National options trading.
Pair Trading with City National
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 City National 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 City National will appreciate offsetting losses from the drop in the long position's value.Moving together with City Mutual Fund
| 1.0 | CNRWX | City National Rochdale | PairCorr |
| 0.93 | CNRUX | City National Rochdale | PairCorr |
| 0.79 | CNRNX | City National Rochdale | PairCorr |
| 0.8 | CNRMX | City National Rochdale | PairCorr |
The ability to find closely correlated positions to City National could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace City National 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 City National - 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 City National Rochdale to buy it.
The correlation of City National 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 City National moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if City National Rochdale 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 City National 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 City National Correlation, City National Volatility and City National Alpha and Beta module to complement your research on City National. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
City National 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.