Gabelli Convertible Andome Fund Market Value
| XGCVX Fund | USD 3.66 0.03 0.83% |
| Symbol | Gabelli |
Please note, there is a significant difference between Gabelli Convertible's value and its price as these two are different measures arrived at by different means. Investors typically determine if Gabelli Convertible is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Gabelli Convertible's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Gabelli Convertible '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 Gabelli Convertible'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 Gabelli Convertible.
| 03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in Gabelli Convertible on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding Gabelli Convertible Andome or generate 0.0% return on investment in Gabelli Convertible over 30 days. Gabelli Convertible is related to or competes with Tekla Healthcare, Tekla Life, Flaherty, Cohen, Tekla Healthcare, Royce Value, and John Hancock. Gabelli Convertible is entity of United States More
Gabelli Convertible 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 Gabelli Convertible'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 Gabelli Convertible Andome upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 3.95 | |||
| Value At Risk | (1.09) | |||
| Potential Upside | 0.8021 |
Gabelli Convertible Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gabelli Convertible's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gabelli Convertible's standard deviation. In reality, there are many statistical measures that can use Gabelli Convertible historical prices to predict the future Gabelli Convertible's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.13) | |||
| Treynor Ratio | 0.6065 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Gabelli Convertible'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.
Gabelli Convertible Backtested Returns
Gabelli Convertible holds Efficiency (Sharpe) Ratio of -0.0668, which attests that the entity had a -0.0668% return per unit of standard deviation over the last 3 months. Gabelli Convertible exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Gabelli Convertible's risk adjusted performance of (0.06), and Market Risk Adjusted Performance of 0.6165 to validate the risk estimate we provide. The fund retains a Market Volatility (i.e., Beta) of -0.13, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Gabelli Convertible are expected to decrease at a much lower rate. During the bear market, Gabelli Convertible is likely to outperform the market.
Auto-correlation | -0.41 |
Modest reverse predictability
Gabelli Convertible Andome has modest reverse predictability. Overlapping area represents the amount of predictability between Gabelli Convertible time series from 19th of March 2024 to 3rd of April 2024 and 3rd of April 2024 to 18th 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 Gabelli Convertible price movement. The serial correlation of -0.41 indicates that just about 41.0% of current Gabelli Convertible price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | -0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Gabelli Convertible lagged returns against current returns
Autocorrelation, which is Gabelli Convertible 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 Gabelli Convertible's mutual fund expected returns. We can calculate the autocorrelation of Gabelli Convertible returns to help us make a trade decision. For example, suppose you find that Gabelli Convertible 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 |
Gabelli Convertible 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 Gabelli Convertible mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gabelli Convertible mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gabelli Convertible mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Gabelli Convertible Lagged Returns
When evaluating Gabelli Convertible's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gabelli Convertible mutual fund have on its future price. Gabelli Convertible 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, Gabelli Convertible autocorrelation shows the relationship between Gabelli Convertible mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Gabelli Convertible Andome.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Gabelli Convertible in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Gabelli Convertible's short interest history, or implied volatility extrapolated from Gabelli Convertible options trading.
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Check out Gabelli Convertible Correlation, Gabelli Convertible Volatility and Gabelli Convertible Alpha and Beta module to complement your research on Gabelli Convertible. You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Gabelli Convertible 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.