Edgewood Growth Fund Market Value
EGFIX Fund | USD 46.96 0.43 0.91% |
Symbol | Edgewood |
Edgewood Growth '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 Edgewood Growth'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 Edgewood Growth.
03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in Edgewood Growth on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding Edgewood Growth Fund or generate 0.0% return on investment in Edgewood Growth over 30 days. Edgewood Growth is related to or competes with American Funds. The fund primarily invests in a core group of 15-35 equity securities, including both common stocks and sponsored Americ... More
Edgewood Growth 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 Edgewood Growth'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 Edgewood Growth Fund upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 1.06 | |||
Information Ratio | 0.0502 | |||
Maximum Drawdown | 5.25 | |||
Value At Risk | (1.74) | |||
Potential Upside | 1.78 |
Edgewood Growth Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Edgewood Growth's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Edgewood Growth's standard deviation. In reality, there are many statistical measures that can use Edgewood Growth historical prices to predict the future Edgewood Growth's volatility.Risk Adjusted Performance | 0.0681 | |||
Jensen Alpha | 0.0428 | |||
Total Risk Alpha | 0.0217 | |||
Sortino Ratio | 0.0515 | |||
Treynor Ratio | 0.0794 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Edgewood Growth'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.
Edgewood Growth Backtested Returns
We consider Edgewood Growth out of control. Edgewood Growth secures Sharpe Ratio (or Efficiency) of 0.0802, which denotes the fund had a 0.0802% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Edgewood Growth Fund, which you can use to evaluate the volatility of the entity. Please confirm Edgewood Growth's Coefficient Of Variation of 987.36, downside deviation of 1.06, and Mean Deviation of 0.8461 to check if the risk estimate we provide is consistent with the expected return of 0.0874%. The fund shows a Beta (market volatility) of 1.26, 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, Edgewood Growth will likely underperform.
Auto-correlation | 0.71 |
Good predictability
Edgewood Growth Fund has good predictability. Overlapping area represents the amount of predictability between Edgewood Growth 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 Edgewood Growth price movement. The serial correlation of 0.71 indicates that around 71.0% of current Edgewood Growth price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.71 | |
Spearman Rank Test | 0.79 | |
Residual Average | 0.0 | |
Price Variance | 0.51 |
Edgewood Growth lagged returns against current returns
Autocorrelation, which is Edgewood Growth 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 Edgewood Growth's mutual fund expected returns. We can calculate the autocorrelation of Edgewood Growth returns to help us make a trade decision. For example, suppose you find that Edgewood Growth 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 |
Edgewood Growth 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 Edgewood Growth mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Edgewood Growth mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Edgewood Growth mutual fund over time.
Current vs Lagged Prices |
Timeline |
Edgewood Growth Lagged Returns
When evaluating Edgewood Growth's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Edgewood Growth mutual fund have on its future price. Edgewood Growth 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, Edgewood Growth autocorrelation shows the relationship between Edgewood Growth mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Edgewood Growth Fund.
Regressed Prices |
Timeline |
Pair Trading with Edgewood Growth
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 Edgewood Growth 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 Edgewood Growth will appreciate offsetting losses from the drop in the long position's value.Moving together with Edgewood Mutual Fund
1.0 | EGFFX | Edgewood Growth | PairCorr |
0.92 | FAFGX | American Funds | PairCorr |
0.92 | FFAFX | American Funds | PairCorr |
0.92 | GFACX | Growth Fund | PairCorr |
The ability to find closely correlated positions to Edgewood Growth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edgewood Growth 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 Edgewood Growth - 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 Edgewood Growth Fund to buy it.
The correlation of Edgewood Growth 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 Edgewood Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edgewood Growth 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 Edgewood Growth 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 Edgewood Growth Correlation, Edgewood Growth Volatility and Edgewood Growth Alpha and Beta module to complement your research on Edgewood Growth. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Edgewood Growth 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.