Summit Global Investments Fund Market Value
| SILVX Fund | USD 20.07 0.08 0.40% |
| Symbol | Summit |
Summit Global '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 Summit Global'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 Summit Global.
| 02/20/2024 |
| 05/20/2024 |
If you would invest 0.00 in Summit Global on February 20, 2024 and sell it all today you would earn a total of 0.00 from holding Summit Global Investments or generate 0.0% return on investment in Summit Global over 90 days. Summit Global is related to or competes with Vanguard Total, Vanguard Total, Vanguard Total, Vanguard 500, Vanguard 500, and Vanguard Institutional. The fund normally invests at least 80 percent of its net assets in equity securities, primarily common stocks, of compan... More
Summit Global 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 Summit Global'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 Summit Global Investments upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.581 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 2.15 | |||
| Value At Risk | (1.01) | |||
| Potential Upside | 0.8093 |
Summit Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Summit Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Summit Global's standard deviation. In reality, there are many statistical measures that can use Summit Global historical prices to predict the future Summit Global's volatility.| Risk Adjusted Performance | 0.0808 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.0799 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Summit Global'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.
Summit Global Investments Backtested Returns
We consider Summit Global very steady. Summit Global Investments owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.15, which indicates the fund had a 0.15% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Summit Global Investments, which you can use to evaluate the volatility of the fund. Please validate Summit Global's Coefficient Of Variation of 715.37, risk adjusted performance of 0.0808, and Semi Deviation of 0.4238 to confirm if the risk estimate we provide is consistent with the expected return of 0.0804%. The entity has a beta of 0.8, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Summit Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding Summit Global is expected to be smaller as well.
Auto-correlation | 0.48 |
Average predictability
Summit Global Investments has average predictability. Overlapping area represents the amount of predictability between Summit Global time series from 20th of February 2024 to 5th of April 2024 and 5th of April 2024 to 20th 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 Summit Global Investments price movement. The serial correlation of 0.48 indicates that about 48.0% of current Summit Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Summit Global Investments lagged returns against current returns
Autocorrelation, which is Summit Global 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 Summit Global's mutual fund expected returns. We can calculate the autocorrelation of Summit Global returns to help us make a trade decision. For example, suppose you find that Summit Global 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 |
Summit Global 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 Summit Global mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Summit Global mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Summit Global mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Summit Global Lagged Returns
When evaluating Summit Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Summit Global mutual fund have on its future price. Summit Global 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, Summit Global autocorrelation shows the relationship between Summit Global mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Summit Global Investments.
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 Summit Global Correlation, Summit Global Volatility and Summit Global Alpha and Beta module to complement your research on Summit Global. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Summit Global 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.