Parnassus Fund Investor Fund Market Value
| PARNX Fund | USD 58.11 0.23 0.40% |
| Symbol | Parnassus |
Parnassus Fund '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 Parnassus Fund'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 Parnassus Fund.
| 05/20/2024 |
| 06/19/2024 |
If you would invest 0.00 in Parnassus Fund on May 20, 2024 and sell it all today you would earn a total of 0.00 from holding Parnassus Fund Investor or generate 0.0% return on investment in Parnassus Fund over 30 days. Parnassus Fund is related to or competes with T Rowe, T Rowe, T Rowe, T Rowe, T Rowe, T Rowe, and Midcap Fund. The fund normally invests at least 80 percent of its net assets in mid-sized growth companies More
Parnassus Fund 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 Parnassus Fund'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 Parnassus Fund Investor upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 3.35 | |||
| Value At Risk | (1.46) | |||
| Potential Upside | 1.55 |
Parnassus Fund Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Fund's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Fund's standard deviation. In reality, there are many statistical measures that can use Parnassus Fund historical prices to predict the future Parnassus Fund's volatility.| Risk Adjusted Performance | (0.0004) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.02) | |||
| Treynor Ratio | (0.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Parnassus Fund'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.
Parnassus Fund Investor Backtested Returns
Parnassus Fund Investor maintains Sharpe Ratio (i.e., Efficiency) of -0.0541, which implies the entity had a -0.0541% return per unit of risk over the last 3 months. Parnassus Fund Investor exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Parnassus Fund's Risk Adjusted Performance of (0.0004), variance of 0.8678, and Coefficient Of Variation of (16,628) to confirm the risk estimate we provide. The fund holds a Beta of 1.22, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Parnassus Fund will likely underperform.
Auto-correlation | -0.76 |
Almost perfect reverse predictability
Parnassus Fund Investor has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Parnassus Fund time series from 20th of May 2024 to 4th of June 2024 and 4th of June 2024 to 19th of June 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 Parnassus Fund Investor price movement. The serial correlation of -0.76 indicates that around 76.0% of current Parnassus Fund price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.76 | |
| Spearman Rank Test | -0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 0.3 |
Parnassus Fund Investor lagged returns against current returns
Autocorrelation, which is Parnassus Fund 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 Parnassus Fund's mutual fund expected returns. We can calculate the autocorrelation of Parnassus Fund returns to help us make a trade decision. For example, suppose you find that Parnassus Fund 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 |
Parnassus Fund 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 Parnassus Fund mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Fund mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parnassus Fund mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Fund Lagged Returns
When evaluating Parnassus Fund's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Fund mutual fund have on its future price. Parnassus Fund 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, Parnassus Fund autocorrelation shows the relationship between Parnassus Fund mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Fund Investor.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Parnassus Mutual Fund
Parnassus Fund financial ratios help investors to determine whether Parnassus Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Parnassus with respect to the benefits of owning Parnassus Fund security.
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