Biotechnology Fund Class Fund Market Value
| RYBOX Fund | USD 60.54 0.11 0.18% |
| Symbol | Biotechnology |
Biotechnology Fund '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 Biotechnology Fund'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 Biotechnology Fund.
| 06/29/2023 |
| 04/24/2024 |
If you would invest 0.00 in Biotechnology Fund on June 29, 2023 and sell it all today you would earn a total of 0.00 from holding Biotechnology Fund Class or generate 0.0% return on investment in Biotechnology Fund over 300 days. Biotechnology Fund is related to or competes with Vanguard Health, T Rowe, Blackrock Health, Blackrock Health, and Health Care. Under normal circumstances, the fund invests substantially all of its net assets in equity securities of Biotechnology C... More
Biotechnology Fund 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 Biotechnology Fund'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 Biotechnology Fund Class upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 4.27 | |||
| Value At Risk | (1.72) | |||
| Potential Upside | 1.56 |
Biotechnology Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Biotechnology Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Biotechnology Fund's standard deviation. In reality, there are many statistical measures that can use Biotechnology Fund historical prices to predict the future Biotechnology Fund's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | (0.07) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Biotechnology Fund'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.
Biotechnology Fund Class Backtested Returns
Biotechnology Fund Class secures Sharpe Ratio (or Efficiency) of -0.0799, which signifies that the fund had a -0.0799% return per unit of risk over the last 3 months. Biotechnology Fund Class exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Biotechnology Fund's Standard Deviation of 1.05, risk adjusted performance of (0.04), and Mean Deviation of 0.8327 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 1.25, 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, Biotechnology Fund will likely underperform.
Auto-correlation | -0.05 |
Very weak reverse predictability
Biotechnology Fund Class has very weak reverse predictability. Overlapping area represents the amount of predictability between Biotechnology Fund time series from 29th of June 2023 to 26th of November 2023 and 26th of November 2023 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 Biotechnology Fund Class price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Biotechnology Fund price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | -0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 6.51 |
Biotechnology Fund Class lagged returns against current returns
Autocorrelation, which is Biotechnology Fund 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 Biotechnology Fund's mutual fund expected returns. We can calculate the autocorrelation of Biotechnology Fund returns to help us make a trade decision. For example, suppose you find that Biotechnology Fund 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 |
Biotechnology Fund 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 Biotechnology Fund mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Biotechnology Fund mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Biotechnology Fund mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Biotechnology Fund Lagged Returns
When evaluating Biotechnology Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Biotechnology Fund mutual fund have on its future price. Biotechnology Fund 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, Biotechnology Fund autocorrelation shows the relationship between Biotechnology Fund mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Biotechnology Fund Class.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Check out Biotechnology Fund Correlation, Biotechnology Fund Volatility and Biotechnology Fund Alpha and Beta module to complement your research on Biotechnology Fund. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Biotechnology Fund 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.