Thornburg Global Opportunities Fund Market Value
| THOCX Fund | USD 34.29 0.34 1.00% |
| Symbol | Thornburg |
Thornburg Global '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 Thornburg Global'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 Thornburg Global.
| 02/23/2024 |
| 04/23/2024 |
If you would invest 0.00 in Thornburg Global on February 23, 2024 and sell it all today you would earn a total of 0.00 from holding Thornburg Global Opportunities or generate 0.0% return on investment in Thornburg Global over 60 days. Thornburg Global is related to or competes with Thornburg Investment, Oppenheimer Global, Thornburg Developing, Thornburg International, and First Eagle. The fund pursues its investment goal by investing primarily in a broad range of equity securities, including common stoc... More
Thornburg Global 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 Thornburg Global'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 Thornburg Global Opportunities upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.721 | |||
| Information Ratio | 0.0925 | |||
| Maximum Drawdown | 3.11 | |||
| Value At Risk | (0.99) | |||
| Potential Upside | 0.9981 |
Thornburg Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Thornburg Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Thornburg Global's standard deviation. In reality, there are many statistical measures that can use Thornburg Global historical prices to predict the future Thornburg Global's volatility.| Risk Adjusted Performance | 0.1384 | |||
| Jensen Alpha | 0.0813 | |||
| Total Risk Alpha | 0.0557 | |||
| Sortino Ratio | 0.0824 | |||
| Treynor Ratio | 0.1898 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Thornburg Global'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.
Thornburg Global Opp Backtested Returns
We consider Thornburg Global very steady. Thornburg Global Opp owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.17, which indicates the fund had a 0.17% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Thornburg Global Opportunities, which you can use to evaluate the volatility of the fund. Please validate Thornburg Global's Risk Adjusted Performance of 0.1384, semi deviation of 0.4913, and Coefficient Of Variation of 443.6 to confirm if the risk estimate we provide is consistent with the expected return of 0.11%. The entity has a beta of 0.71, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Thornburg Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding Thornburg Global is expected to be smaller as well.
Auto-correlation | -0.34 |
Poor reverse predictability
Thornburg Global Opportunities has poor reverse predictability. Overlapping area represents the amount of predictability between Thornburg Global time series from 23rd of February 2024 to 24th of March 2024 and 24th of March 2024 to 23rd 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 Thornburg Global Opp price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Thornburg Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Thornburg Global Opp lagged returns against current returns
Autocorrelation, which is Thornburg Global 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 Thornburg Global's mutual fund expected returns. We can calculate the autocorrelation of Thornburg Global returns to help us make a trade decision. For example, suppose you find that Thornburg Global 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 |
Thornburg Global 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 Thornburg Global mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Thornburg Global mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Thornburg Global mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Thornburg Global Lagged Returns
When evaluating Thornburg Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Thornburg Global mutual fund have on its future price. Thornburg Global 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, Thornburg Global autocorrelation shows the relationship between Thornburg Global mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Thornburg Global Opportunities.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Check out Thornburg Global Correlation, Thornburg Global Volatility and Thornburg Global Alpha and Beta module to complement your research on Thornburg Global. Note that the Thornburg Global Opp information on this page should be used as a complementary analysis to other Thornburg Global'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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Thornburg Global 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.