Smallcap World Fund Market Value
| SMCWX Fund | USD 64.10 0.14 0.22% |
| Symbol | Smallcap |
Smallcap World '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 Smallcap World'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 Smallcap World.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Smallcap World on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Smallcap World Fund or generate 0.0% return on investment in Smallcap World over 30 days. Smallcap World is related to or competes with Income Fund, New World, American Mutual, American Mutual, American Funds, American Funds, and Income Fund. Normally the fund invests at least 80 percent of its net assets in common stocks and other equity-type securities of com... More
Smallcap World 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 Smallcap World'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 Smallcap World Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8786 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 3.36 | |||
| Value At Risk | (1.20) | |||
| Potential Upside | 1.22 |
Smallcap World Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Smallcap World's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Smallcap World's standard deviation. In reality, there are many statistical measures that can use Smallcap World historical prices to predict the future Smallcap World's volatility.| Risk Adjusted Performance | 0.0067 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | (0) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Smallcap World'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.
Smallcap World Backtested Returns
Smallcap World owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0175, which indicates the fund had a -0.0175% return per unit of risk over the last 3 months. Smallcap World Fund exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Smallcap World's Coefficient Of Variation of 13886.81, semi deviation of 0.8604, and Risk Adjusted Performance of 0.0067 to confirm the risk estimate we provide. The entity has a beta of 1.2, which indicates 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, Smallcap World will likely underperform.
Auto-correlation | 0.31 |
Below average predictability
Smallcap World Fund has below average predictability. Overlapping area represents the amount of predictability between Smallcap World time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Smallcap World price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Smallcap World price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 2.22 |
Smallcap World lagged returns against current returns
Autocorrelation, which is Smallcap World 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 Smallcap World's mutual fund expected returns. We can calculate the autocorrelation of Smallcap World returns to help us make a trade decision. For example, suppose you find that Smallcap World 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 |
Smallcap World 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 Smallcap World mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Smallcap World mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Smallcap World mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Smallcap World Lagged Returns
When evaluating Smallcap World's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Smallcap World mutual fund have on its future price. Smallcap World 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, Smallcap World autocorrelation shows the relationship between Smallcap World mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Smallcap World Fund.
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 Smallcap World 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, Smallcap World's short interest history, or implied volatility extrapolated from Smallcap World options trading.
Currently Active Assets on Macroaxis
Check out Smallcap World Correlation, Smallcap World Volatility and Smallcap World Alpha and Beta module to complement your research on Smallcap World. You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.
Smallcap World 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.