Dana Small Cap Fund Market Value
DSCIX Fund | USD 13.35 0.02 0.15% |
Symbol | Dana |
Dana Small '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 Dana Small'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 Dana Small.
03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Dana Small on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Dana Small Cap or generate 0.0% return on investment in Dana Small over 30 days. Dana Small is related to or competes with Fidelity Advisor, HUMANA, Morningstar Unconstrained, High Yield, Thrivent High, Via Renewables, and T Rowe. The fund seeks to achieve its investment objective through investment in publicly-traded equity securities using a disci... More
Dana Small 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 Dana Small'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 Dana Small Cap upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 1.2 | |||
Information Ratio | (0.03) | |||
Maximum Drawdown | 5.07 | |||
Value At Risk | (1.79) | |||
Potential Upside | 1.86 |
Dana Small Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dana Small's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dana Small's standard deviation. In reality, there are many statistical measures that can use Dana Small historical prices to predict the future Dana Small's volatility.Risk Adjusted Performance | 0.0361 | |||
Jensen Alpha | (0.09) | |||
Total Risk Alpha | (0.11) | |||
Sortino Ratio | (0.03) | |||
Treynor Ratio | 0.0301 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Dana Small'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.
Dana Small Cap Backtested Returns
We consider Dana Small out of control. Dana Small Cap secures Sharpe Ratio (or Efficiency) of 0.0387, which denotes the fund had a 0.0387% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Dana Small Cap, which you can use to evaluate the volatility of the entity. Please confirm Dana Small's Downside Deviation of 1.2, coefficient of variation of 1974.2, and Mean Deviation of 0.9036 to check if the risk estimate we provide is consistent with the expected return of 0.0435%. The fund shows a Beta (market volatility) of 1.56, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Dana Small will likely underperform.
Auto-correlation | 0.30 |
Below average predictability
Dana Small Cap has below average predictability. Overlapping area represents the amount of predictability between Dana Small 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 Dana Small Cap price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current Dana Small price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.3 | |
Spearman Rank Test | 0.11 | |
Residual Average | 0.0 | |
Price Variance | 0.08 |
Dana Small Cap lagged returns against current returns
Autocorrelation, which is Dana Small 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 Dana Small's mutual fund expected returns. We can calculate the autocorrelation of Dana Small returns to help us make a trade decision. For example, suppose you find that Dana Small 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 |
Dana Small 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 Dana Small mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dana Small mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dana Small mutual fund over time.
Current vs Lagged Prices |
Timeline |
Dana Small Lagged Returns
When evaluating Dana Small's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dana Small mutual fund have on its future price. Dana Small 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, Dana Small autocorrelation shows the relationship between Dana Small mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Dana Small Cap.
Regressed Prices |
Timeline |
Pair Trading with Dana Small
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 Dana Small 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 Dana Small will appreciate offsetting losses from the drop in the long position's value.Moving together with Dana Mutual Fund
0.85 | DLCIX | Dana Large Cap | PairCorr |
0.85 | DLCEX | Dana Large Cap | PairCorr |
0.9 | ESGIX | Dana Epiphany Esg | PairCorr |
0.98 | VSGAX | Vanguard Small Cap | PairCorr |
The ability to find closely correlated positions to Dana Small could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dana Small 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 Dana Small - 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 Dana Small Cap to buy it.
The correlation of Dana Small 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 Dana Small moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dana Small Cap 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 Dana Small 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 Dana Small Correlation, Dana Small Volatility and Dana Small Alpha and Beta module to complement your research on Dana Small. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Dana Small 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.