Destinations International Equity Fund Market Value
| DIEFX Fund | USD 12.90 0.13 1.02% |
| Symbol | Destinations |
Destinations International '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 International'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 International.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Destinations International on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Destinations International Equity or generate 0.0% return on investment in Destinations International over 30 days. Destinations International is related to or competes with Fidelity Small, Fidelity Advisor, Morningstar Unconstrained, High Yield, Thrivent High, Via Renewables, and T Rowe. The fund will invest at least 80 percent of its net assets in equity securities More
Destinations International 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 International'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 International Equity upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6529 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 2.85 | |||
| Value At Risk | (0.94) | |||
| Potential Upside | 1.02 |
Destinations International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Destinations International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Destinations International's standard deviation. In reality, there are many statistical measures that can use Destinations International historical prices to predict the future Destinations International's volatility.| Risk Adjusted Performance | 0.0629 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0618 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Destinations International'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.
Destinations International Backtested Returns
We consider Destinations International very steady. Destinations International secures Sharpe Ratio (or Efficiency) of 0.0779, which denotes the fund had a 0.0779% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Destinations International Equity, which you can use to evaluate the volatility of the entity. Please confirm Destinations International's Mean Deviation of 0.4775, coefficient of variation of 991.54, and Downside Deviation of 0.6529 to check if the risk estimate we provide is consistent with the expected return of 0.0495%. The fund shows a Beta (market volatility) of 0.86, which means possible diversification benefits within a given portfolio. Destinations International returns are very sensitive to returns on the market. As the market goes up or down, Destinations International is expected to follow.
Auto-correlation | -0.15 |
Insignificant reverse predictability
Destinations International Equity has insignificant reverse predictability. Overlapping area represents the amount of predictability between Destinations International time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 to 24th 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 Destinations International price movement. The serial correlation of -0.15 indicates that less than 15.0% of current Destinations International price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Destinations International lagged returns against current returns
Autocorrelation, which is Destinations International 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 International's mutual fund expected returns. We can calculate the autocorrelation of Destinations International returns to help us make a trade decision. For example, suppose you find that Destinations International 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 |
Destinations International 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 International mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Destinations International 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 International mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Destinations International Lagged Returns
When evaluating Destinations International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Destinations International mutual fund have on its future price. Destinations International 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 International autocorrelation shows the relationship between Destinations International mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Destinations International Equity.
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 International 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 International's short interest history, or implied volatility extrapolated from Destinations International options trading.
Pair Trading with Destinations International
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 International 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 International will appreciate offsetting losses from the drop in the long position's value.Moving together with Destinations Mutual Fund
| 1.0 | DIEZX | Destinations International | PairCorr |
| 0.95 | DLCFX | Destinations Large Cap | PairCorr |
| 0.81 | DLDFX | Destinations Low Duration | PairCorr |
| 0.95 | DLCZX | Destinations Large Cap | PairCorr |
The ability to find closely correlated positions to Destinations International 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 International 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 International - 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 International Equity to buy it.
The correlation of Destinations International 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 Destinations International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Destinations International 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 International 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 International Correlation, Destinations International Volatility and Destinations International Alpha and Beta module to complement your research on Destinations International. Note that the Destinations International information on this page should be used as a complementary analysis to other Destinations International'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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Destinations International 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.