Comstock Capital Value Fund Market Value
| CPCCX Fund | USD 3.31 0.01 0.30% |
| Symbol | Comstock |
Comstock 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 Comstock 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 Comstock Capital.
| 05/24/2023 |
| 04/18/2024 |
If you would invest 0.00 in Comstock Capital on May 24, 2023 and sell it all today you would earn a total of 0.00 from holding Comstock Capital Value or generate 0.0% return on investment in Comstock Capital over 330 days. Comstock Capital is related to or competes with Sprucegrove International, T Rowe, The Gabelli, Ab Select, and Crossmark Steward. The fund follows a value oriented strategy and seeks to achieve its investment objective by investing in equity and debt... More
Comstock 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 Comstock 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 Comstock Capital Value upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 1.5 | |||
| Value At Risk | (0.30) | |||
| Potential Upside | 0.3021 |
Comstock Capital Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Comstock Capital's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Comstock Capital's standard deviation. In reality, there are many statistical measures that can use Comstock Capital historical prices to predict the future Comstock Capital's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | (0.07) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Comstock 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.
Comstock Capital Value Backtested Returns
Comstock Capital Value secures Sharpe Ratio (or Efficiency) of -0.0329, which signifies that the fund had a -0.0329% return per unit of risk over the last 3 months. Comstock Capital Value exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Comstock Capital's Mean Deviation of 0.1855, standard deviation of 0.2774, and Risk Adjusted Performance of (0.03) to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.28, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Comstock Capital's returns are expected to increase less than the market. However, during the bear market, the loss of holding Comstock Capital is expected to be smaller as well.
Auto-correlation | 0.87 |
Very good predictability
Comstock Capital Value has very good predictability. Overlapping area represents the amount of predictability between Comstock Capital time series from 24th of May 2023 to 5th of November 2023 and 5th of November 2023 to 18th 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 Comstock Capital Value price movement. The serial correlation of 0.87 indicates that approximately 87.0% of current Comstock Capital price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.87 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Comstock Capital Value lagged returns against current returns
Autocorrelation, which is Comstock 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 Comstock Capital's mutual fund expected returns. We can calculate the autocorrelation of Comstock Capital returns to help us make a trade decision. For example, suppose you find that Comstock 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 |
Comstock 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 Comstock Capital mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Comstock 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 Comstock Capital mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Comstock Capital Lagged Returns
When evaluating Comstock Capital's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Comstock Capital mutual fund have on its future price. Comstock 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, Comstock Capital autocorrelation shows the relationship between Comstock Capital mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Comstock Capital Value.
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 Comstock Capital 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, Comstock Capital's short interest history, or implied volatility extrapolated from Comstock Capital options trading.
Pair Trading with Comstock 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 Comstock 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 Comstock Capital will appreciate offsetting losses from the drop in the long position's value.Moving together with Comstock Mutual Fund
| 0.87 | GCFSX | Gabelli Global Financial | PairCorr |
| 0.87 | GCIEX | Gabelli Equity | PairCorr |
| 0.86 | EMACX | Enterprise Mergers And | PairCorr |
| 0.79 | GUXPX | Gabelli Utilities | PairCorr |
| 0.83 | GVCAX | Gabelli Value | PairCorr |
The ability to find closely correlated positions to Comstock 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 Comstock 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 Comstock 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 Comstock Capital Value to buy it.
The correlation of Comstock 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 Comstock Capital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Comstock Capital Value 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 Comstock 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 Comstock Capital Correlation, Comstock Capital Volatility and Comstock Capital Alpha and Beta module to complement your research on Comstock Capital. Note that the Comstock Capital Value information on this page should be used as a complementary analysis to other Comstock 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Comstock 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.