Parnassus Mid Cap Fund Manager Performance Evaluation

PFPMX Fund  USD 40.38  0.37  0.92%   
The fund holds a Beta of -0.013, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Parnassus Mid are expected to decrease at a much lower rate. During the bear market, Parnassus Mid is likely to outperform the market.

Risk-Adjusted Performance

12 of 100

 
Low
 
High
OK
Compared to the overall equity markets, risk-adjusted returns on investments in Parnassus Mid Cap are ranked lower than 12 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly fragile primary indicators, Parnassus Mid may actually be approaching a critical reversion point that can send shares even higher in April 2024.
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Expense Ratio Date1st of May 2023
Expense Ratio0.7500
  

Parnassus Mid Relative Risk vs. Return Landscape

If you would invest  3,742  in Parnassus Mid Cap on December 29, 2023 and sell it today you would earn a total of  296.00  from holding Parnassus Mid Cap or generate 7.91% return on investment over 90 days. Parnassus Mid Cap is currently producing 0.1279% returns and takes up 0.7825% volatility of returns over 90 trading days. Put another way, 6% of traded mutual funds are less volatile than Parnassus, and 98% of all traded equity instruments are likely to generate higher returns over the next 90 trading days.
  Expected Return   
       Risk  
Assuming the 90 days horizon Parnassus Mid is expected to generate 1.04 times less return on investment than the market. In addition to that, the company is 1.37 times more volatile than its market benchmark. It trades about 0.16 of its total potential returns per unit of risk. The NYSE Composite is currently generating roughly 0.23 per unit of volatility.

Parnassus Mid Current Valuation

Fairly Valued
Today
40.38
Please note that Parnassus Mid's price fluctuation is very steady at this time. At this time, the fund appears to be fairly valued. Parnassus Mid Cap holds a recent Real Value of $39.62 per share. The prevailing price of the fund is $40.38. We determine the value of Parnassus Mid Cap from analyzing fund fundamentals and technical indicators as well as its Probability Of Bankruptcy. In general, we support acquiring undervalued mutual funds and dropping overvalued mutual funds since, at some point, mutual fund prices and their ongoing real values will merge together.
Our valuation method for Parnassus Mid Cap is useful when determining the fair value of the Parnassus mutual fund, which is usually determined by what a typical buyer is willing to pay for full or partial control of Parnassus Mid. Since Parnassus Mid is currently traded on the exchange, buyers and sellers on that exchange determine the market value of Parnassus Mutual Fund. However, Parnassus Mid's intrinsic value may or may not be the same as its current market price, in which case there is an opportunity to profit from the mispricing, assuming the market price will eventually merge with its intrinsic value.
Historical Market  40.38 Real  39.62 Hype  40.01 Naive  40.06
The real value of Parnassus Mutual Fund, also known as its intrinsic value, is the underlying worth of Parnassus Mid Cap Mutual Fund, which is reflected in its stock price. It is based on Parnassus Mid's financial performance, assets, liabilities, growth prospects, management team, or industry conditions. The intrinsic value of Parnassus Mid's stock can be calculated using various methods such as discounted cash flow analysis, price-to-earnings ratio, or price-to-book ratio. That value may differ from its current market price, which is determined by supply and demand factors such as investor sentiment, market trends, news, and other external factors that may influence Parnassus Mid's stock price. It is important to note that the real value of any stock may change over time based on changes in the company's performance.
39.62
Real Value
40.40
Upside
Estimating the potential upside or downside of Parnassus Mid Cap helps investors to forecast how Parnassus mutual fund's addition to their portfolios will impact the overall performance. We also use other valuation drivers to help us estimate the true value of Parnassus Mid more accurately as focusing exclusively on Parnassus Mid's fundamentals will not take into account other important factors:
Bollinger
Band Projection (param)
LowerMiddle BandUpper
39.8540.0640.26
Details
Hype
Prediction
LowEstimatedHigh
39.2340.0140.79
Details
Potential
Annual Dividend
LowForecastedHigh
0.520.520.53
Details

Parnassus Mid Market Risk Analysis

Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Mid's investment risk. Standard deviation is the most common way to measure market volatility of mutual funds, such as Parnassus Mid Cap, and traders can use it to determine the average amount a Parnassus Mid's price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.

Sharpe Ratio = 0.1634

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Estimated Market Risk

 0.78
  actual daily
6
94% of assets are more volatile

Expected Return

 0.13
  actual daily
2
98% of assets have higher returns

Risk-Adjusted Return

 0.16
  actual daily
12
88% of assets perform better
Based on monthly moving average Parnassus Mid is performing at about 12% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Parnassus Mid by adding it to a well-diversified portfolio.

Parnassus Mid Fundamentals Growth

Parnassus Mutual Fund prices reflect investors' perceptions of the future prospects and financial health of Parnassus Mid, and Parnassus Mid fundamentals are critical determinants of its market performance. Overall, investors pay close attention to revenue and earnings growth, profit margins, and debt levels. These fundamentals can have a significant impact on Parnassus Mutual Fund performance.

About Parnassus Mid Performance

To evaluate Parnassus Mid Cap Mutual Fund as a possible investment, you need to clearly understand its upside potential, downside risk, and overall future performance outlook. You may be satisfied when Parnassus Mid generates a 15% return over the last few months, but what if the market is generating 25% over the same period? In this case, it makes sense to compare Parnassus Mutual Fund's performance with different market indexes, such as the Dow or NASDAQ Composite. These indexes can act as benchmarks that will help you to understand Parnassus Mid Cap market performance in a much more refined way. The Macroaxis performance score is an integer between 0 and 100 that represents Parnassus's market performance from a risk-adjusted return perspective. Generally speaking, the higher the score, the better is overall performance as compared to other investors. The score is normalized against the average investing universe (the best we can interpret from the data available). Within this methodology, scores of individual equity instruments will always be inferior to the scores of portfolios of equities as portfolios typically diversify a lot of unsystematic risks away. The formula to derive the Macroaxis score bases on multiple unequally-weighted factors. For more information, refer to our portfolio performance evaluation section.
Please also refer to our technical analysis and fundamental analysis pages.
The fund normally invests at least 80 percent of its net assets in mid-sized companies. The funds managers consider a mid-sized company to be one that has a market capitalization between that of the smallest and largest constituents of the Russell Midcap Index measured at the time of purchase. The Russell Midcap Index includes approximately 800 of the smallest companies in the Russell 1000 Index. The fund may normally invest up to 20 percent of its net assets in smaller- and larger-capitalization companies.

Things to note about Parnassus Mid Cap performance evaluation

Checking the ongoing alerts about Parnassus Mid for important developments is a great way to find new opportunities for your next move. Mutual Fund alerts and notifications screener for Parnassus Mid Cap help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
The fund maintains 96.82% of its assets in stocks
Evaluating Parnassus Mid's performance can involve analyzing a variety of financial metrics and factors. Some of the key considerations to evaluate Parnassus Mid's mutual fund performance include:
  • Analyzing Parnassus Mid's financial statements, including its income statement, balance sheet, and cash flow statement, helps in understanding its overall financial health and growth potential.
  • Getting a closer look at valuation ratios like price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and price-to-book (P/B) ratio help in understanding whether Parnassus Mid's stock is overvalued or undervalued compared to its peers.
  • Examining Parnassus Mid's industry or sector and how it is performing can give you an idea of its growth potential and how it is positioned relative to its competitors.
  • Evaluating Parnassus Mid's management team can have a significant impact on its success or failure. Reviewing the track record and experience of Parnassus Mid's management team can help you assess the Mutual Fund's leadership.
  • Pay attention to analyst opinions and ratings of Parnassus Mid's mutual fund. These opinions can provide insight into Parnassus Mid's potential for growth and whether the stock is currently undervalued or overvalued.
It's essential to remember that evaluating Parnassus Mid's mutual fund performance is not an exact science, and many factors can impact Parnassus Mid's mutual fund market price. Therefore, it's also important to diversify your portfolio and not rely solely on one company or stock for your investments.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Parnassus Mid Cap. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in population.
You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

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When running Parnassus Mid's price analysis, check to measure Parnassus Mid's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Parnassus Mid is operating at the current time. Most of Parnassus Mid's value examination focuses on studying past and present price action to predict the probability of Parnassus Mid's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Parnassus Mid's price. Additionally, you may evaluate how the addition of Parnassus Mid to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Parnassus Mid's value and its price as these two are different measures arrived at by different means. Investors typically determine if Parnassus Mid is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Parnassus Mid's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.