Fidelity Vertible Securities Fund Market Value
| FICVX Fund | USD 32.31 0.01 0.03% |
| Symbol | Fidelity |
Fidelity Convertible '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 Fidelity Convertible'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 Fidelity Convertible.
| 05/06/2022 |
| 04/25/2024 |
If you would invest 0.00 in Fidelity Convertible on May 6, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity Vertible Securities or generate 0.0% return on investment in Fidelity Convertible over 720 days. Fidelity Convertible is related to or competes with Quantitative, Ultra-short Term, Astor Longshort, 361 Domestic, Jhancock Short, and Angel Oak. The fund normally invests at least 80 percent of assets in convertible securities, which are often lower-quality debt se... More
Fidelity Convertible 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 Fidelity Convertible'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 Fidelity Vertible Securities upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6046 | |||
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 1.93 | |||
| Value At Risk | (1.07) | |||
| Potential Upside | 0.7721 |
Fidelity Convertible Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Convertible's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Convertible's standard deviation. In reality, there are many statistical measures that can use Fidelity Convertible historical prices to predict the future Fidelity Convertible's volatility.| Risk Adjusted Performance | 0.0213 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | 0.0148 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity Convertible'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.
Fidelity Convertible Backtested Returns
We consider Fidelity Convertible very steady. Fidelity Convertible secures Sharpe Ratio (or Efficiency) of 0.0266, which denotes the fund had a 0.0266% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Fidelity Vertible Securities, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Convertible's Downside Deviation of 0.6046, mean deviation of 0.4065, and Coefficient Of Variation of 2648.49 to check if the risk estimate we provide is consistent with the expected return of 0.0139%. The fund shows a Beta (market volatility) of 0.62, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fidelity Convertible's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Convertible is expected to be smaller as well.
Auto-correlation | 0.44 |
Average predictability
Fidelity Vertible Securities has average predictability. Overlapping area represents the amount of predictability between Fidelity Convertible time series from 6th of May 2022 to 1st of May 2023 and 1st of May 2023 to 25th 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 Fidelity Convertible price movement. The serial correlation of 0.44 indicates that just about 44.0% of current Fidelity Convertible price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.44 | |
| Spearman Rank Test | 0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 1.05 |
Fidelity Convertible lagged returns against current returns
Autocorrelation, which is Fidelity Convertible 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 Fidelity Convertible's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Convertible returns to help us make a trade decision. For example, suppose you find that Fidelity Convertible 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 |
Fidelity Convertible 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 Fidelity Convertible mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Convertible mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Convertible mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Convertible Lagged Returns
When evaluating Fidelity Convertible's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Convertible mutual fund have on its future price. Fidelity Convertible 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, Fidelity Convertible autocorrelation shows the relationship between Fidelity Convertible mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Vertible Securities.
Regressed Prices |
| Timeline |
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Fidelity Convertible 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.