Absolute Capital Defender Fund Market Value
| ACMAX Fund | USD 10.63 0.06 0.56% |
| Symbol | Absolute |
Absolute Capital '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 Absolute Capital'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 Absolute Capital.
| 03/17/2024 |
| 04/16/2024 |
If you would invest 0.00 in Absolute Capital on March 17, 2024 and sell it all today you would earn a total of 0.00 from holding Absolute Capital Defender or generate 0.0% return on investment in Absolute Capital over 30 days. Absolute Capital is related to or competes with Vanguard 500, Vanguard 500, HP, Boeing, American Express, International Business, and GE Aerospace. The fund seeks to achieve its investment objective by investing directly or indirectly through other investment companies, including mutual funds, exchange traded funds and closed-end funds in domestic and foreign fixed income securities of any maturity or credit quality equity securities of any market capitalization cash and cash equivalents and exchange traded notes . More
Absolute Capital 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 Absolute Capital'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 Absolute Capital Defender upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4271 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 1.68 | |||
| Value At Risk | (0.74) | |||
| Potential Upside | 0.5709 |
Absolute Capital Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Absolute Capital's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Absolute Capital's standard deviation. In reality, there are many statistical measures that can use Absolute Capital historical prices to predict the future Absolute Capital's volatility.| Risk Adjusted Performance | 0.0501 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.0439 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Absolute Capital'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.
Absolute Capital Defender Backtested Returns
We consider Absolute Capital very steady. Absolute Capital Defender secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the fund had a 0.12% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Absolute Capital Defender, which you can use to evaluate the volatility of the entity. Please confirm Absolute Capital's Mean Deviation of 0.2974, risk adjusted performance of 0.0501, and Downside Deviation of 0.4271 to double-check if the risk estimate we provide is consistent with the expected return of 0.0461%. The fund shows a Beta (market volatility) of 0.54, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Absolute Capital's returns are expected to increase less than the market. However, during the bear market, the loss of holding Absolute Capital is expected to be smaller as well.
Auto-correlation | -0.71 |
Almost perfect reverse predictability
Absolute Capital Defender has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Absolute Capital time series from 17th of March 2024 to 1st of April 2024 and 1st of April 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 Absolute Capital Defender price movement. The serial correlation of -0.71 indicates that around 71.0% of current Absolute Capital price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.71 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Absolute Capital Defender lagged returns against current returns
Autocorrelation, which is Absolute Capital 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 Absolute Capital's mutual fund expected returns. We can calculate the autocorrelation of Absolute Capital returns to help us make a trade decision. For example, suppose you find that Absolute Capital 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 |
Absolute Capital 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 Absolute Capital mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Absolute Capital mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Absolute Capital mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Absolute Capital Lagged Returns
When evaluating Absolute Capital's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Absolute Capital mutual fund have on its future price. Absolute Capital 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, Absolute Capital autocorrelation shows the relationship between Absolute Capital mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Absolute Capital Defender.
Regressed Prices |
| Timeline |
Pair Trading with Absolute Capital
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Absolute Capital position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Absolute Capital will appreciate offsetting losses from the drop in the long position's value.Moving together with Absolute Mutual Fund
| 1.0 | AAMIX | Absolute Capital Asset | PairCorr |
| 1.0 | AAMAX | Absolute Capital Asset | PairCorr |
| 1.0 | AAMCX | Absolute Capital Asset | PairCorr |
| 1.0 | ACMIX | Absolute Capital Defender | PairCorr |
| 1.0 | ACMDX | Absolute Capital Defender | PairCorr |
The ability to find closely correlated positions to Absolute Capital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Absolute Capital when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Absolute Capital - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Absolute Capital Defender to buy it.
The correlation of Absolute Capital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Absolute Capital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Absolute Capital Defender moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Absolute Capital can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Absolute Capital Correlation, Absolute Capital Volatility and Absolute Capital Alpha and Beta module to complement your research on Absolute Capital. Note that the Absolute Capital Defender information on this page should be used as a complementary analysis to other Absolute Capital'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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Absolute Capital 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.