Nationwide Highmark Small Fund Market Value
| NWKEX Fund | USD 30.91 0.24 0.77% |
| Symbol | Nationwide |
Nationwide Highmark '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 Nationwide Highmark'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 Nationwide Highmark.
| 10/19/2023 |
| 04/16/2024 |
If you would invest 0.00 in Nationwide Highmark on October 19, 2023 and sell it all today you would earn a total of 0.00 from holding Nationwide Highmark Small or generate 0.0% return on investment in Nationwide Highmark over 180 days. Nationwide Highmark is related to or competes with Janus Venture, and Hartford Midcap. The fund invests primarily in stocks of U.S More
Nationwide Highmark 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 Nationwide Highmark'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 Nationwide Highmark Small upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.17 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 5.29 | |||
| Value At Risk | (1.64) | |||
| Potential Upside | 1.78 |
Nationwide Highmark Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nationwide Highmark's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nationwide Highmark's standard deviation. In reality, there are many statistical measures that can use Nationwide Highmark historical prices to predict the future Nationwide Highmark's volatility.| Risk Adjusted Performance | 0.0395 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | 0.0357 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nationwide Highmark'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.
Nationwide Highmark Small Backtested Returns
We consider Nationwide Highmark very steady. Nationwide Highmark Small has Sharpe Ratio of 0.0731, which conveys that the entity had a 0.0731% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nationwide Highmark, which you can use to evaluate the volatility of the fund. Please verify Nationwide Highmark's Risk Adjusted Performance of 0.0395, mean deviation of 0.8426, and Downside Deviation of 1.17 to check out if the risk estimate we provide is consistent with the expected return of 0.0801%. The fund secures a Beta (Market Risk) of 1.42, which conveys 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, Nationwide Highmark will likely underperform.
Auto-correlation | 0.89 |
Very good predictability
Nationwide Highmark Small has very good predictability. Overlapping area represents the amount of predictability between Nationwide Highmark time series from 19th of October 2023 to 17th of January 2024 and 17th of January 2024 to 16th 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 Nationwide Highmark Small price movement. The serial correlation of 0.89 indicates that approximately 89.0% of current Nationwide Highmark price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.89 | |
| Spearman Rank Test | 0.8 | |
| Residual Average | 0.0 | |
| Price Variance | 0.72 |
Nationwide Highmark Small lagged returns against current returns
Autocorrelation, which is Nationwide Highmark 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 Nationwide Highmark's mutual fund expected returns. We can calculate the autocorrelation of Nationwide Highmark returns to help us make a trade decision. For example, suppose you find that Nationwide Highmark 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 |
Nationwide Highmark 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 Nationwide Highmark mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nationwide Highmark mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nationwide Highmark mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nationwide Highmark Lagged Returns
When evaluating Nationwide Highmark's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nationwide Highmark mutual fund have on its future price. Nationwide Highmark 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, Nationwide Highmark autocorrelation shows the relationship between Nationwide Highmark mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nationwide Highmark Small.
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 Nationwide Highmark 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, Nationwide Highmark's short interest history, or implied volatility extrapolated from Nationwide Highmark options trading.
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Try AI Portfolio ArchitectCheck out Nationwide Highmark Correlation, Nationwide Highmark Volatility and Nationwide Highmark Alpha and Beta module to complement your research on Nationwide Highmark. Note that the Nationwide Highmark Small information on this page should be used as a complementary analysis to other Nationwide Highmark'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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Nationwide Highmark 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.