World Energy Fund Market Value
| AIWEX Fund | USD 14.23 0.14 0.99% |
| Symbol | World |
World Energy '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 World Energy'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 World Energy.
| 05/06/2022 |
| 04/25/2024 |
If you would invest 0.00 in World Energy on May 6, 2022 and sell it all today you would earn a total of 0.00 from holding World Energy Fund or generate 0.0% return on investment in World Energy over 720 days. World Energy is related to or competes with Vanguard Energy, Vanguard Energy, Fidelity Select, Fidelity Advisor, Fidelity Advisor, Fidelity Advisor, and Invesco Energy. The fund invests at least 80 percent of its net assets in a wide range of energy-related financial instruments issued in... More
World Energy 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 World Energy'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 World Energy Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8045 | |||
| Information Ratio | 0.1511 | |||
| Maximum Drawdown | 3.76 | |||
| Value At Risk | (1.11) | |||
| Potential Upside | 1.57 |
World Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for World Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as World Energy's standard deviation. In reality, there are many statistical measures that can use World Energy historical prices to predict the future World Energy's volatility.| Risk Adjusted Performance | 0.1697 | |||
| Jensen Alpha | 0.145 | |||
| Total Risk Alpha | 0.097 | |||
| Sortino Ratio | 0.1527 | |||
| Treynor Ratio | 0.2813 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of World Energy'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.
World Energy Backtested Returns
We consider World Energy very steady. World Energy shows Sharpe Ratio of 0.22, which attests that the fund had a 0.22% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for World Energy, which you can use to evaluate the volatility of the fund. Please check out World Energy's Mean Deviation of 0.6354, downside deviation of 0.8045, and Market Risk Adjusted Performance of 0.2913 to validate if the risk estimate we provide is consistent with the expected return of 0.18%. The entity maintains a market beta of 0.74, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, World Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding World Energy is expected to be smaller as well.
Auto-correlation | 0.04 |
Virtually no predictability
World Energy Fund has virtually no predictability. Overlapping area represents the amount of predictability between World Energy 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 World Energy price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current World Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.65 |
World Energy lagged returns against current returns
Autocorrelation, which is World Energy 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 World Energy's mutual fund expected returns. We can calculate the autocorrelation of World Energy returns to help us make a trade decision. For example, suppose you find that World Energy 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 |
World Energy 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 World Energy mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if World Energy mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in World Energy mutual fund over time.
Current vs Lagged Prices |
| Timeline |
World Energy Lagged Returns
When evaluating World Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of World Energy mutual fund have on its future price. World Energy 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, World Energy autocorrelation shows the relationship between World Energy mutual fund current value and its past values and can show if there is a momentum factor associated with investing in World Energy Fund.
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 World Energy 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, World Energy's short interest history, or implied volatility extrapolated from World Energy options trading.
Pair Trading with World Energy
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if World Energy position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in World Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with World Mutual Fund
| 1.0 | APWEX | World Energy | PairCorr |
| 0.98 | VGELX | Vanguard Energy | PairCorr |
| 0.98 | VGENX | Vanguard Energy | PairCorr |
| 0.99 | VENAX | Vanguard Energy Index | PairCorr |
| 1.0 | FSENX | Fidelity Select Port | PairCorr |
Moving against World Mutual Fund
| 0.55 | PFHCX | Pacific Funds Small | PairCorr |
The ability to find closely correlated positions to World Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace World Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back World Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling World Energy Fund to buy it.
The correlation of World Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as World Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if World Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for World Energy can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out World Energy Correlation, World Energy Volatility and World Energy Alpha and Beta module to complement your research on World Energy. Note that the World Energy information on this page should be used as a complementary analysis to other World Energy's 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
World Energy 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.