Telecommunications Portfolio Fidelity Fund Market Value
| FTUAX Fund | USD 42.31 0.43 1.03% |
| Symbol | Telecommunications |
Telecommunications '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 Telecommunications' 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 Telecommunications.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Telecommunications on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Telecommunications Portfolio Fidelity or generate 0.0% return on investment in Telecommunications over 30 days. Telecommunications is related to or competes with Fidelity Freedom, Fidelity Puritan, Fidelity Puritan, Fidelity Pennsylvania, Fidelity Freedom, Fidelity Freedom, and Fidelity Salem. The fund invests primarily in common stocks More
Telecommunications 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 Telecommunications' 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 Telecommunications Portfolio Fidelity upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 4.76 | |||
| Value At Risk | (1.76) | |||
| Potential Upside | 1.33 |
Telecommunications Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Telecommunications' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Telecommunications' standard deviation. In reality, there are many statistical measures that can use Telecommunications historical prices to predict the future Telecommunications' volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.20) | |||
| Treynor Ratio | (0.13) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Telecommunications' 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.
Telecommunications Backtested Returns
Telecommunications owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.1, which indicates the fund had a -0.1% return per unit of risk over the last 3 months. Telecommunications Portfolio Fidelity exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Telecommunications' Variance of 0.9658, risk adjusted performance of (0.05), and Coefficient Of Variation of (1,061) to confirm the risk estimate we provide. The entity has a beta of 0.81, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Telecommunications' returns are expected to increase less than the market. However, during the bear market, the loss of holding Telecommunications is expected to be smaller as well.
Auto-correlation | -0.68 |
Very good reverse predictability
Telecommunications Portfolio Fidelity has very good reverse predictability. Overlapping area represents the amount of predictability between Telecommunications time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Telecommunications price movement. The serial correlation of -0.68 indicates that around 68.0% of current Telecommunications price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 0.46 |
Telecommunications lagged returns against current returns
Autocorrelation, which is Telecommunications 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 Telecommunications' mutual fund expected returns. We can calculate the autocorrelation of Telecommunications returns to help us make a trade decision. For example, suppose you find that Telecommunications 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 |
Telecommunications 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 Telecommunications mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Telecommunications mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Telecommunications mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Telecommunications Lagged Returns
When evaluating Telecommunications' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Telecommunications mutual fund have on its future price. Telecommunications 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, Telecommunications autocorrelation shows the relationship between Telecommunications mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Telecommunications Portfolio Fidelity.
Regressed Prices |
| Timeline |
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Telecommunications 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.