Global Resources Fund Market Value
| PSPFX Fund | USD 4.08 0.01 0.24% |
| Symbol | Global |
Global Resources '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 Global Resources' 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 Global Resources.
| 03/01/2024 |
| 05/30/2024 |
If you would invest 0.00 in Global Resources on March 1, 2024 and sell it all today you would earn a total of 0.00 from holding Global Resources Fund or generate 0.0% return on investment in Global Resources over 90 days. Global Resources is related to or competes with World Precious, Near-term Tax, Gold And, Us Global, and Us Government. Under normal market conditions, the fund will invest at least 80 percent of its net assets in equity and equity-related securities of companies involved in the natural resources industries, which include, among others, the following industries natural gas, integrated oil companies, hard rock or oil and gas drilling, oil and gas exploration and production, oil and gas refining, oilfield equipmentservices, aluminum, chemicals, base metals and specialty minerals, gold and precious metals, iron and steel, paper and forest products, etc. More
Global Resources 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 Global Resources' 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 Global Resources Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.04 | |||
| Information Ratio | 0.0885 | |||
| Maximum Drawdown | 4.97 | |||
| Value At Risk | (1.22) | |||
| Potential Upside | 1.56 |
Global Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Global Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Global Resources' standard deviation. In reality, there are many statistical measures that can use Global Resources historical prices to predict the future Global Resources' volatility.| Risk Adjusted Performance | 0.0771 | |||
| Jensen Alpha | 0.1105 | |||
| Total Risk Alpha | 0.0693 | |||
| Sortino Ratio | 0.0822 | |||
| Treynor Ratio | (39.42) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Global Resources' 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.
Global Resources Backtested Returns
We consider Global Resources somewhat reliable. Global Resources holds Efficiency (Sharpe) Ratio of 0.11, which attests that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Global Resources, which you can use to evaluate the volatility of the entity. Please check out Global Resources' Downside Deviation of 1.04, market risk adjusted performance of (39.41), and Risk Adjusted Performance of 0.0771 to validate if the risk estimate we provide is consistent with the expected return of 0.11%. The fund retains a Market Volatility (i.e., Beta) of -0.0028, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Global Resources are expected to decrease at a much lower rate. During the bear market, Global Resources is likely to outperform the market.
Auto-correlation | 0.78 |
Good predictability
Global Resources Fund has good predictability. Overlapping area represents the amount of predictability between Global Resources time series from 1st of March 2024 to 15th of April 2024 and 15th of April 2024 to 30th of May 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 Global Resources price movement. The serial correlation of 0.78 indicates that around 78.0% of current Global Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Global Resources lagged returns against current returns
Autocorrelation, which is Global Resources 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 Global Resources' mutual fund expected returns. We can calculate the autocorrelation of Global Resources returns to help us make a trade decision. For example, suppose you find that Global Resources 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 |
Global Resources 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 Global Resources mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Global Resources mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Global Resources mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Global Resources Lagged Returns
When evaluating Global Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Global Resources mutual fund have on its future price. Global Resources 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, Global Resources autocorrelation shows the relationship between Global Resources mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Global Resources Fund.
Regressed Prices |
| Timeline |
Also Currently Popular
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 Global Resources Correlation, Global Resources Volatility and Global Resources Alpha and Beta module to complement your research on Global Resources. Note that the Global Resources information on this page should be used as a complementary analysis to other Global Resources' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Global Resources 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.