Automotive Portfolio Automotive Fund Market Value
| FSAVX Fund | USD 52.61 0.40 0.77% |
| Symbol | Automotive |
Automotive Portfolio '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 Automotive Portfolio'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 Automotive Portfolio.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Automotive Portfolio on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Automotive Portfolio Automotive or generate 0.0% return on investment in Automotive Portfolio over 30 days. Automotive Portfolio is related to or competes with Retailing Portfolio, Leisure Portfolio, Consumer Discretionary, Fidelity Advisor, and Fidelity Advisor. The fund normally invests at least 80 percent of assets in securities of companies principally engaged in the manufactur... More
Automotive Portfolio 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 Automotive Portfolio'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 Automotive Portfolio Automotive upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.13 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 4.87 | |||
| Value At Risk | (1.71) | |||
| Potential Upside | 1.84 |
Automotive Portfolio Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Automotive Portfolio's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Automotive Portfolio's standard deviation. In reality, there are many statistical measures that can use Automotive Portfolio historical prices to predict the future Automotive Portfolio's volatility.| Risk Adjusted Performance | 0.041 | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0399 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Automotive Portfolio'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.
Automotive Portfolio Backtested Returns
We consider Automotive Portfolio very steady. Automotive Portfolio secures Sharpe Ratio (or Efficiency) of 0.0912, which signifies that the fund had a 0.0912% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Automotive Portfolio Automotive, which you can use to evaluate the volatility of the entity. Please confirm Automotive Portfolio's Mean Deviation of 0.8206, risk adjusted performance of 0.041, and Downside Deviation of 1.13 to double-check if the risk estimate we provide is consistent with the expected return of 0.098%. The fund shows a Beta (market volatility) of 1.32, which signifies 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, Automotive Portfolio will likely underperform.
Auto-correlation | 0.80 |
Very good predictability
Automotive Portfolio Automotive has very good predictability. Overlapping area represents the amount of predictability between Automotive Portfolio 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 Automotive Portfolio price movement. The serial correlation of 0.8 indicates that around 80.0% of current Automotive Portfolio price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.88 | |
| Residual Average | 0.0 | |
| Price Variance | 1.56 |
Automotive Portfolio lagged returns against current returns
Autocorrelation, which is Automotive Portfolio 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 Automotive Portfolio's mutual fund expected returns. We can calculate the autocorrelation of Automotive Portfolio returns to help us make a trade decision. For example, suppose you find that Automotive Portfolio 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 |
Automotive Portfolio 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 Automotive Portfolio mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Automotive Portfolio mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Automotive Portfolio mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Automotive Portfolio Lagged Returns
When evaluating Automotive Portfolio's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Automotive Portfolio mutual fund have on its future price. Automotive Portfolio 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, Automotive Portfolio autocorrelation shows the relationship between Automotive Portfolio mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Automotive Portfolio Automotive.
Regressed Prices |
| Timeline |
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Automotive Portfolio 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.