Rivernorth E Opportunity Fund Market Value
| RNCIX Fund | USD 7.25 0.01 0.14% |
| Symbol | Rivernorth |
Rivernorth '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 Rivernorth'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 Rivernorth.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Rivernorth on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Rivernorth E Opportunity or generate 0.0% return on investment in Rivernorth over 30 days. Rivernorth is related to or competes with Fidelity Strategic, HUMANA, Morningstar Unconstrained, High Yield, Thrivent High, Via Renewables, and Bondbloxx ETF. The funds adviser will allocate the funds investments among equities, fixed income securities, and cash and cash equival... More
Rivernorth 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 Rivernorth'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 Rivernorth E Opportunity upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5956 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 1.78 | |||
| Value At Risk | (0.82) | |||
| Potential Upside | 0.5739 |
Rivernorth Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Rivernorth's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Rivernorth's standard deviation. In reality, there are many statistical measures that can use Rivernorth historical prices to predict the future Rivernorth's volatility.| Risk Adjusted Performance | 0.0843 | |||
| Jensen Alpha | 0.005 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0943 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Rivernorth'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.
Rivernorth E Opportunity Backtested Returns
We consider Rivernorth out of control. Rivernorth E Opportunity maintains Sharpe Ratio (i.e., Efficiency) of 0.11, which implies the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Rivernorth E Opportunity, which you can use to evaluate the volatility of the fund. Please check Rivernorth's Risk Adjusted Performance of 0.0843, semi deviation of 0.3847, and Coefficient Of Variation of 705.07 to confirm if the risk estimate we provide is consistent with the expected return of 0.0476%. The fund holds a Beta of 0.56, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Rivernorth's returns are expected to increase less than the market. However, during the bear market, the loss of holding Rivernorth is expected to be smaller as well.
Auto-correlation | 0.32 |
Below average predictability
Rivernorth E Opportunity has below average predictability. Overlapping area represents the amount of predictability between Rivernorth 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 Rivernorth E Opportunity price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current Rivernorth price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Rivernorth E Opportunity lagged returns against current returns
Autocorrelation, which is Rivernorth 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 Rivernorth's mutual fund expected returns. We can calculate the autocorrelation of Rivernorth returns to help us make a trade decision. For example, suppose you find that Rivernorth 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 |
Rivernorth 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 Rivernorth mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Rivernorth mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Rivernorth mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Rivernorth Lagged Returns
When evaluating Rivernorth's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Rivernorth mutual fund have on its future price. Rivernorth 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, Rivernorth autocorrelation shows the relationship between Rivernorth mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Rivernorth E Opportunity.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Check out Rivernorth Correlation, Rivernorth Volatility and Rivernorth Alpha and Beta module to complement your research on Rivernorth. You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Rivernorth 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.