Parnassus Endeavor Fund Market Value
| PARWX Fund | USD 53.15 0.13 0.24% |
| Symbol | Parnassus |
Parnassus Endeavor '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 Parnassus Endeavor'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 Parnassus Endeavor.
| 05/06/2022 |
| 04/25/2024 |
If you would invest 0.00 in Parnassus Endeavor on May 6, 2022 and sell it all today you would earn a total of 0.00 from holding Parnassus Endeavor Fund or generate 0.0% return on investment in Parnassus Endeavor over 720 days. Parnassus Endeavor is related to or competes with Loomis Sayles, Diamond Hill, Champlain Small, HUMANA, Barloworld, Morningstar Unconstrained, and High Yield. The funds objective is to achieve capital appreciation by investing primarily in a diversified portfolio of equity secur... More
Parnassus Endeavor 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 Parnassus Endeavor'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 Parnassus Endeavor Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8022 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 3.15 | |||
| Value At Risk | (1.30) | |||
| Potential Upside | 1.15 |
Parnassus Endeavor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Endeavor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Endeavor's standard deviation. In reality, there are many statistical measures that can use Parnassus Endeavor historical prices to predict the future Parnassus Endeavor's volatility.| Risk Adjusted Performance | 0.0716 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0659 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Parnassus Endeavor'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.
Parnassus Endeavor Backtested Returns
We consider Parnassus Endeavor very steady. Parnassus Endeavor maintains Sharpe Ratio (i.e., Efficiency) of 0.082, which implies the entity had a 0.082% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Parnassus Endeavor, which you can use to evaluate the volatility of the fund. Please check Parnassus Endeavor's Coefficient Of Variation of 884.17, risk adjusted performance of 0.0716, and Semi Deviation of 0.6745 to confirm if the risk estimate we provide is consistent with the expected return of 0.0581%. The fund holds a Beta of 1.04, which implies a somewhat significant risk relative to the market. Parnassus Endeavor returns are very sensitive to returns on the market. As the market goes up or down, Parnassus Endeavor is expected to follow.
Auto-correlation | 0.47 |
Average predictability
Parnassus Endeavor Fund has average predictability. Overlapping area represents the amount of predictability between Parnassus Endeavor time series from 6th of May 2022 to 1st of May 2023 and 1st of May 2023 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 Parnassus Endeavor price movement. The serial correlation of 0.47 indicates that about 47.0% of current Parnassus Endeavor price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.47 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 11.44 |
Parnassus Endeavor lagged returns against current returns
Autocorrelation, which is Parnassus Endeavor 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 Parnassus Endeavor's mutual fund expected returns. We can calculate the autocorrelation of Parnassus Endeavor returns to help us make a trade decision. For example, suppose you find that Parnassus Endeavor 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 |
Parnassus Endeavor 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 Parnassus Endeavor mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Endeavor mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parnassus Endeavor mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Endeavor Lagged Returns
When evaluating Parnassus Endeavor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Endeavor mutual fund have on its future price. Parnassus Endeavor 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, Parnassus Endeavor autocorrelation shows the relationship between Parnassus Endeavor mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Endeavor Fund.
Regressed Prices |
| Timeline |
Becoming a Better Investor with Macroaxis
Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as Parnassus Endeavor using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.Build Optimal Portfolios
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Check out Parnassus Endeavor Correlation, Parnassus Endeavor Volatility and Parnassus Endeavor Alpha and Beta module to complement your research on Parnassus Endeavor. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Parnassus Endeavor 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.