Cornercap Small Cap Value Fund Market Value
CSCVX Fund | USD 13.95 0.02 0.14% |
Symbol | Cornercap |
Cornercap Small-cap '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 Cornercap Small-cap'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 Cornercap Small-cap.
03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Cornercap Small-cap on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Cornercap Small Cap Value or generate 0.0% return on investment in Cornercap Small-cap over 30 days. Cornercap Small-cap is related to or competes with Vanguard Small, and Vanguard Small-cap. The fund normally invests more than 80 percent of its net assets in equity securities of small-cap U.S More
Cornercap Small-cap 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 Cornercap Small-cap'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 Cornercap Small Cap Value upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 1.32 | |||
Information Ratio | (0.04) | |||
Maximum Drawdown | 6.54 | |||
Value At Risk | (1.62) | |||
Potential Upside | 2.35 |
Cornercap Small-cap Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cornercap Small-cap's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cornercap Small-cap's standard deviation. In reality, there are many statistical measures that can use Cornercap Small-cap historical prices to predict the future Cornercap Small-cap's volatility.Risk Adjusted Performance | 0.0305 | |||
Jensen Alpha | (0.1) | |||
Total Risk Alpha | (0.13) | |||
Sortino Ratio | (0.03) | |||
Treynor Ratio | 0.025 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cornercap Small-cap'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.
Cornercap Small Cap Backtested Returns
We consider Cornercap Small-cap very steady. Cornercap Small Cap secures Sharpe Ratio (or Efficiency) of 0.0088, which signifies that the fund had a 0.0088% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Cornercap Small Cap Value, which you can use to evaluate the volatility of the entity. Please confirm Cornercap Small-cap's Downside Deviation of 1.32, risk adjusted performance of 0.0305, and Mean Deviation of 0.9291 to double-check if the risk estimate we provide is consistent with the expected return of 0.0105%. The fund shows a Beta (market volatility) of 1.61, 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, Cornercap Small-cap will likely underperform.
Auto-correlation | 0.01 |
Virtually no predictability
Cornercap Small Cap Value has virtually no predictability. Overlapping area represents the amount of predictability between Cornercap Small-cap time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 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 Cornercap Small Cap price movement. The serial correlation of 0.01 indicates that just 1.0% of current Cornercap Small-cap price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.01 | |
Spearman Rank Test | 0.48 | |
Residual Average | 0.0 | |
Price Variance | 0.07 |
Cornercap Small Cap lagged returns against current returns
Autocorrelation, which is Cornercap Small-cap 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 Cornercap Small-cap's mutual fund expected returns. We can calculate the autocorrelation of Cornercap Small-cap returns to help us make a trade decision. For example, suppose you find that Cornercap Small-cap 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 |
Cornercap Small-cap 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 Cornercap Small-cap mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cornercap Small-cap mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cornercap Small-cap mutual fund over time.
Current vs Lagged Prices |
Timeline |
Cornercap Small-cap Lagged Returns
When evaluating Cornercap Small-cap's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cornercap Small-cap mutual fund have on its future price. Cornercap Small-cap 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, Cornercap Small-cap autocorrelation shows the relationship between Cornercap Small-cap mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Cornercap Small Cap Value.
Regressed Prices |
Timeline |
Pair Trading with Cornercap Small-cap
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 Cornercap Small-cap 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 Cornercap Small-cap will appreciate offsetting losses from the drop in the long position's value.Moving together with Cornercap Mutual Fund
0.85 | CMCRX | Cornercap Large/mid-cap | PairCorr |
1.0 | CSCJX | Cornercap Small Cap | PairCorr |
0.88 | VSIIX | Vanguard Small Cap | PairCorr |
0.88 | VISVX | Vanguard Small Cap | PairCorr |
Moving against Cornercap Mutual Fund
0.83 | UIPIX | Ultrashort Mid Cap | PairCorr |
0.75 | USPSX | Profunds Ultrashort | PairCorr |
0.75 | USPIX | Profunds Ultrashort | PairCorr |
0.49 | DFTPX | Dfa Target Value | PairCorr |
0.49 | DFTVX | Dfa Inv Dimensions | PairCorr |
The ability to find closely correlated positions to Cornercap Small-cap could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cornercap Small-cap 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 Cornercap Small-cap - 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 Cornercap Small Cap Value to buy it.
The correlation of Cornercap Small-cap 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 Cornercap Small-cap moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cornercap Small Cap 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 Cornercap Small-cap 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 Cornercap Small-cap Correlation, Cornercap Small-cap Volatility and Cornercap Small-cap Alpha and Beta module to complement your research on Cornercap Small-cap. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Cornercap Small-cap 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.