Destra Granahan Small Fund Market Value
| DGASX Fund | USD 10.13 0.03 0.30% |
| Symbol | Destra |
Destra Granahan '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 Destra Granahan'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 Destra Granahan.
| 03/23/2024 |
| 04/22/2024 |
If you would invest 0.00 in Destra Granahan on March 23, 2024 and sell it all today you would earn a total of 0.00 from holding Destra Granahan Small or generate 0.0% return on investment in Destra Granahan over 30 days. Destra Granahan is related to or competes with Destra Preferred, Destra Preferred, Destra Preferred, and Destra Granahan. Under normal market conditions, the fund invests at least 80 percent of its net assets in securities of issuers with sma... More
Destra Granahan 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 Destra Granahan'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 Destra Granahan Small upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 6.55 | |||
| Value At Risk | (2.65) | |||
| Potential Upside | 2.14 |
Destra Granahan Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Destra Granahan's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Destra Granahan's standard deviation. In reality, there are many statistical measures that can use Destra Granahan historical prices to predict the future Destra Granahan's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | (0.03) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Destra Granahan'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.
Destra Granahan Small Backtested Returns
Destra Granahan Small secures Sharpe Ratio (or Efficiency) of -0.0759, which denotes the fund had a -0.0759% return per unit of risk over the last 3 months. Destra Granahan Small exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Destra Granahan's Variance of 2.09, mean deviation of 1.13, and Standard Deviation of 1.45 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 1.92, which means 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, Destra Granahan will likely underperform.
Auto-correlation | 0.57 |
Modest predictability
Destra Granahan Small has modest predictability. Overlapping area represents the amount of predictability between Destra Granahan time series from 23rd of March 2024 to 7th of April 2024 and 7th of April 2024 to 22nd 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 Destra Granahan Small price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current Destra Granahan price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
Destra Granahan Small lagged returns against current returns
Autocorrelation, which is Destra Granahan 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 Destra Granahan's mutual fund expected returns. We can calculate the autocorrelation of Destra Granahan returns to help us make a trade decision. For example, suppose you find that Destra Granahan 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 |
Destra Granahan 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 Destra Granahan mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Destra Granahan mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Destra Granahan mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Destra Granahan Lagged Returns
When evaluating Destra Granahan's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Destra Granahan mutual fund have on its future price. Destra Granahan 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, Destra Granahan autocorrelation shows the relationship between Destra Granahan mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Destra Granahan Small.
Regressed Prices |
| Timeline |
Pair Trading with Destra Granahan
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 Destra Granahan 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 Destra Granahan will appreciate offsetting losses from the drop in the long position's value.Moving together with Destra Mutual Fund
| 1.0 | DGISX | Destra Granahan Small | PairCorr |
The ability to find closely correlated positions to Destra Granahan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Destra Granahan 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 Destra Granahan - 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 Destra Granahan Small to buy it.
The correlation of Destra Granahan 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 Destra Granahan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Destra Granahan Small 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 Destra Granahan 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 Destra Granahan Correlation, Destra Granahan Volatility and Destra Granahan Alpha and Beta module to complement your research on Destra Granahan. You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Destra Granahan 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.