Destinations Mutual Fund Market Value
| DGFZX Fund | USD 9.17 0.05 0.54% |
| Symbol | Destinations |
Destinations 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 Destinations 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 Destinations Global.
| 04/02/2023 |
| 09/29/2023 |
If you would invest 0.00 in Destinations Global on April 2, 2023 and sell it all today you would earn a total of 0.00 from holding Destinations Global Fixed or generate 0.0% return on investment in Destinations Global over 180 days. Destinations Global is related to or competes with International Business, FRANKLIN STRATEGIC, Small Cap, Morningstar Unconstrained, Weiqiao Textile, Bondbloxx ETF, and FT Cboe. The fund will invest at least 80 percent of its net assets in fixed income securities More
Destinations 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 Destinations 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 Destinations Global Fixed upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1878 | |||
| Information Ratio | 0.1931 | |||
| Maximum Drawdown | 0.4358 | |||
| Value At Risk | (0.22) | |||
| Potential Upside | 0.2167 |
Destinations Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Destinations Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Destinations Global's standard deviation. In reality, there are many statistical measures that can use Destinations Global historical prices to predict the future Destinations Global's volatility.| Risk Adjusted Performance | 0.0101 | |||
| Jensen Alpha | 0.0017 | |||
| Total Risk Alpha | 0.0051 | |||
| Sortino Ratio | 0.131 | |||
| Treynor Ratio | 4.0E-4 |
Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of Destinations 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. Please use the tools below to analyze the current value of Destinations Global in the context of predictive analytics.
Destinations Global Fixed Backtested Returns
We consider Destinations Global very steady. Destinations Global Fixed secures Sharpe Ratio (or Efficiency) of 0.0708, which denotes the fund had 0.0708% of return per unit of risk over the last 3 months. Our standpoint towards predicting the volatility of a fund is to use all available market data together with fund-specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for Destinations Global Fixed, which you can use to evaluate the future volatility of the entity. Please confirm Destinations Global Fixed Mean Deviation of 0.0939, downside deviation of 0.1878, and Coefficient Of Variation of 1270.05 to check if the risk estimate we provide is consistent with the expected return of 0.0088%. The fund shows a Beta (market volatility) of 0.0664, which means not very significant fluctuations relative to the market. As returns on the market increase, Destinations Global returns are expected to increase less than the market. However, during the bear market, the loss on holding Destinations Global will be expected to be smaller as well. By reviewing Destinations Global Fixed technical indicators, you can presently evaluate if the expected return of 0.0088% will be sustainable into the future.
Auto-correlation | 0.67 |
Good predictability
Destinations Global Fixed has good predictability. Overlapping area represents the amount of predictability between Destinations Global time series from 2nd of April 2023 to 1st of July 2023 and 1st of July 2023 to 29th of September 2023. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Destinations Global Fixed price movement. The serial correlation of 0.67 indicates that around 67.0% of current Destinations Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Destinations Global Fixed lagged returns against current returns
Autocorrelation, which is Destinations 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 Destinations Global's mutual fund expected returns. We can calculate the autocorrelation of Destinations Global returns to help us make a trade decision. For example, suppose you find that Destinations Global mutual fund has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the stock movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Destinations 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 Destinations Global mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Destinations 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 Destinations Global mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Destinations Global Lagged Returns
When evaluating Destinations Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Destinations Global mutual fund have on its future price. Destinations 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, Destinations Global autocorrelation shows the relationship between Destinations Global mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Destinations Global Fixed.
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 Destinations Global 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, Destinations Global's short interest history, or implied volatility extrapolated from Destinations Global options trading.
Pair Trading with Destinations Global
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 Destinations Global 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 Destinations Global will appreciate offsetting losses from the drop in the long position's value.Moving against Destinations Mutual Fund
| - | 0.55 | BIPIX | BIOTECHNOLOGY ULTRASECTOR | PairCorr | ||
| - | 0.46 | CCWCX | CAPITAL WORLD BOND | PairCorr | ||
| - | 0.45 | RCWAX | CAPITAL WORLD BOND | PairCorr | ||
| - | 0.44 | CCWEX | CAPITAL WORLD BOND | PairCorr | ||
| - | 0.44 | RCWCX | CAPITAL WORLD BOND | PairCorr |
The ability to find closely correlated positions to Destinations Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Destinations Global 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 Destinations Global - 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 Destinations Global Fixed to buy it.
The correlation of Destinations Global is a statistical measure of how it moves in relation to other equities. 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 Destinations Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Destinations Global Fixed 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 Destinations Global 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 Destinations Global Correlation, Destinations Global Volatility and Destinations Global Alpha and Beta module to complement your research on Destinations Global. Note that the Destinations Global Fixed information on this page should be used as a complementary analysis to other Destinations 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 Transaction History module to view history of all your transactions and understand their impact on performance.
Complementary Tools for Destinations Mutual Fund analysis
When running Destinations Global's price analysis, check to measure Destinations Global'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 Destinations Global is operating at the current time. Most of Destinations Global's value examination focuses on studying past and present price action to predict the probability of Destinations Global's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Destinations Global's price. Additionally, you may evaluate how the addition of Destinations Global to your portfolios can decrease your overall portfolio volatility.
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Destinations 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.