Destinations Multi Strategy Fund Market Value
| DMSZX Fund | USD 10.14 0.01 0.1% |
| Symbol | Destinations |
Destinations Multi '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 Destinations Multi'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 Destinations Multi.
| 03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in Destinations Multi on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding Destinations Multi Strategy or generate 0.0% return on investment in Destinations Multi over 30 days. Destinations Multi is related to or competes with Blackrock Alternative, Blackrock Systematic, Blackstone Alternative, Aqr Style, Blackstone Alternative, Blackstone Alternative, and Goldman Sachs. The adviser employs a strategy intended to generate long term growth across market cycles with reduced correlation to th... More
Destinations Multi 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 Destinations Multi'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 Destinations Multi Strategy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1831 | |||
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 0.7874 | |||
| Value At Risk | (0.20) | |||
| Potential Upside | 0.199 |
Destinations Multi Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Destinations Multi's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Destinations Multi's standard deviation. In reality, there are many statistical measures that can use Destinations Multi historical prices to predict the future Destinations Multi's volatility.| Risk Adjusted Performance | 0.0449 | |||
| Jensen Alpha | 0.0014 | |||
| Total Risk Alpha | (0) | |||
| Sortino Ratio | (0.20) | |||
| Treynor Ratio | 0.0551 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Destinations Multi'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.
Destinations Multi Backtested Returns
We consider Destinations Multi very steady. Destinations Multi secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the fund had a 0.13% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Destinations Multi Strategy, which you can use to evaluate the volatility of the entity. Please confirm Destinations Multi's Mean Deviation of 0.11, standard deviation of 0.1469, and Coefficient Of Variation of 809.82 to check if the risk estimate we provide is consistent with the expected return of 0.019%. The fund shows a Beta (market volatility) of 0.15, which means not very significant fluctuations relative to the market. As returns on the market increase, Destinations Multi's returns are expected to increase less than the market. However, during the bear market, the loss of holding Destinations Multi is expected to be smaller as well.
Auto-correlation | -0.65 |
Very good reverse predictability
Destinations Multi Strategy has very good reverse predictability. Overlapping area represents the amount of predictability between Destinations Multi time series from 19th of March 2024 to 3rd of April 2024 and 3rd of April 2024 to 18th 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 Destinations Multi price movement. The serial correlation of -0.65 indicates that roughly 65.0% of current Destinations Multi price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.65 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Destinations Multi lagged returns against current returns
Autocorrelation, which is Destinations Multi 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 Destinations Multi's mutual fund expected returns. We can calculate the autocorrelation of Destinations Multi returns to help us make a trade decision. For example, suppose you find that Destinations Multi 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 |
Destinations Multi 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 Destinations Multi mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Destinations Multi mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Destinations Multi mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Destinations Multi Lagged Returns
When evaluating Destinations Multi's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Destinations Multi mutual fund have on its future price. Destinations Multi 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, Destinations Multi autocorrelation shows the relationship between Destinations Multi mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Destinations Multi Strategy.
Regressed Prices |
| Timeline |
Pair Trading with Destinations Multi
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 Destinations Multi 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 Destinations Multi will appreciate offsetting losses from the drop in the long position's value.Moving together with Destinations Mutual Fund
| 0.92 | DIEZX | Destinations International | PairCorr |
| 0.92 | DIEFX | Destinations International | PairCorr |
| 0.95 | DLCZX | Destinations Large Cap | PairCorr |
| 0.95 | DLDZX | Destinations Low Duration | PairCorr |
The ability to find closely correlated positions to Destinations Multi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Destinations Multi 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 Destinations Multi - 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 Destinations Multi Strategy to buy it.
The correlation of Destinations Multi 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 Destinations Multi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Destinations Multi 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 Destinations Multi 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 Destinations Multi Correlation, Destinations Multi Volatility and Destinations Multi Alpha and Beta module to complement your research on Destinations Multi. Note that the Destinations Multi information on this page should be used as a complementary analysis to other Destinations Multi'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 Global Correlations module to find global opportunities by holding instruments from different markets.
Destinations Multi 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.