Parnassus Mutual Fund Volatility

PFPLX -  USA Fund  

USD 17.40  0.05  0.29%

Parnassus Fixed Income maintains Sharpe Ratio (i.e., Efficiency) of -0.12, which implies the entity had -0.12% of return per unit of risk over the last 3 months. Macroaxis standpoint towards forecasting the risk of any fund is to look at both systematic and unsystematic factors of the business, including all available market data and technical indicators. Parnassus Fixed Income exposes twenty-one different technical indicators, which can help you to evaluate volatility that cannot be diversified away. Please be advised to check Parnassus Fixed Income risk adjusted performance of (0.11), and Coefficient Of Variation of (894.69) to confirm the risk estimate we provide.

Parnassus Volatility 

 
Refresh
Parnassus Fixed Mutual Fund volatility depicts how high the prices fluctuate around the mean (or its average) price. In other words, it is a statistical measure of the distribution of Parnassus daily returns, and it is calculated using variance and standard deviation. We also use Parnassus's beta, its sensitivity to the market, as well as its odds of financial distress to provide a more practical estimation of Parnassus Fixed volatility.

60 Days Market Risk

Very steady

Chance of Distress

Very Small

60 Days Economic Sensitivity

Barely shadows the market

Parnassus Fixed Market Sensitivity And Downside Risk

Parnassus Fixed's beta coefficient measures the volatility of Parnassus mutual fund compared to the systematic risk of the entire stock market represented by your selected benchmark. In mathematical terms, beta represents the slope of the line through a regression of data points where each of these points represents Parnassus mutual fund's returns against your selected market. In other words, Parnassus Fixed's beta of 0.0586 provides an investor with an approximation of how much risk Parnassus Fixed mutual fund can potentially add to one of your existing portfolios.
Let's try to break down what Parnassus's beta means in this case. As returns on the market increase, Parnassus Fixed returns are expected to increase less than the market. However, during the bear market, the loss on holding Parnassus Fixed will be expected to be smaller as well.
3 Months Beta |Analyze Parnassus Fixed Income Demand Trend
Check current 90 days Parnassus Fixed correlation with market (DOW)

Parnassus Beta

    
  0.0586  
Parnassus standard deviation measures the daily dispersion of prices over your selected time horizon relative to its mean. Typical volatile equity has a high standard deviation, while the deviation of a stable instrument is usually low. As a downside, the standard deviation calculates all uncertainty as risk, even when it is in your favor, such as above-average returns.

Standard Deviation

    
  0.19  
It is essential to understand the difference between upside risk (as represented by Parnassus Fixed's standard deviation) and the downside risk, which can be measured by semi-deviation or downside deviation of Parnassus Fixed stock's daily returns or price. Since the actual investment returns on holding a position in Parnassus Fixed stock tend to have a non-normal distribution, there will be different probabilities for losses than for gains. The likelihood of losses is reflected in the downside risk of an investment in Parnassus Fixed.

Parnassus Fixed Income Mutual Fund Volatility Analysis

Transformation
The output start index for this execution was zero with a total number of output elements of sixty-one. Parnassus Fixed Typical Price indicator is an average of each day price and can be used instead of closing price when creating different Parnassus Fixed Income moving average lines. View also all equity analysis or get more info about typical price price transform indicator.

Parnassus Fixed Projected Return Density Against Market

Assuming the 90 days horizon Parnassus Fixed has a beta of 0.0586 indicating as returns on the market go up, Parnassus Fixed average returns are expected to increase less than the benchmark. However, during the bear market, the loss on holding Parnassus Fixed Income will be expected to be much smaller as well.
Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Parnassus Fixed or Parnassus sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Parnassus Fixed stock's price will be affected by overall stock market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a Parnassus stock's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
The company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Parnassus Fixed Income is significantly underperforming DOW.
 Predicted Return Density 
      Returns 

Parnassus Fixed Mutual Fund Risk Measures

Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Parnassus Fixed or Parnassus sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Parnassus Fixed stock's price will be affected by overall stock market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a Parnassus stock's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
Assuming the 90 days horizon the coefficient of variation of Parnassus Fixed is -851.01. The daily returns are distributed with a variance of 0.04 and standard deviation of 0.19. The mean deviation of Parnassus Fixed Income is currently at 0.16. For similar time horizon, the selected benchmark (DOW) has volatility of 0.74
α
Alpha over DOW
-0.04
β
Beta against DOW0.06
σ
Overall volatility
0.19
Ir
Information ratio -0.45

Parnassus Fixed Mutual Fund Return Volatility

Parnassus Fixed historical daily return volatility represents how much Parnassus Fixed stock's price daily returns swing around its mean daily price change - it is a statistical measure of its dispersion of returns. The fund shows 0.1917% volatility of returns over 90 . By contrast, DOW inherits 0.722% risk (volatility on return distribution) over the 90 days horizon.
 Performance (%) 
      Timeline 

About Parnassus Fixed Volatility

Volatility is a rate at which the price of Parnassus Fixed or any other equity instrument increases or decreases for a given set of returns. It is measured by calculating the standard deviation of the annualized returns over a given period of time and shows the range to which the price of Parnassus Fixed may increase or decrease. In other words, similar to Parnassus's beta indicator, it measures the risk of Parnassus Fixed and helps estimate the fluctuations that may happen in a short period of time. So if prices of Parnassus Fixed fluctuate rapidly in a short time span, it is termed to have high volatility, and if it swings slowly in a more extended period, it is understood to have low volatility.
Please read more on our technical analysis page.
The investment seeks a high level of current income consistent with safety and preservation of capital. Parnassus Fixed is traded on NASDAQ Exchange in the United States.

Parnassus Fixed Investment Opportunity

DOW has a standard deviation of returns of 0.72 and is 3.79 times more volatile than Parnassus Fixed Income. of all equities and portfolios are less risky than Parnassus Fixed. Compared to the overall equity markets, volatility of historical daily returns of Parnassus Fixed Income is lower than 1 () of all global equities and portfolios over the last 90 days. Use Parnassus Fixed Income to enhance returns of your portfolios. The mutual fund experiences a normal upward fluctuation. Check odds of Parnassus Fixed to be traded at $18.27 in 90 days. . Let's try to break down what Parnassus's beta means in this case. As returns on the market increase, Parnassus Fixed returns are expected to increase less than the market. However, during the bear market, the loss on holding Parnassus Fixed will be expected to be smaller as well.

Modest diversification

The correlation between Parnassus Fixed Income and DJI is Modest diversification for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parnassus Fixed Income and DJI in the same portfolio assuming nothing else is changed.

Parnassus Fixed Additional Risk Indicators

The analysis of Parnassus Fixed's secondary risk indicators is one of the essential steps in making a buy or sell decision. The process involves identifying the amount of risk involved in Parnassus Fixed's investment and either accepting that risk or mitigating it. Along with some common measures of Parnassus Fixed stock risk such as standard deviation, beta, or value at risk, we also provide a set of secondary indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Risk Adjusted Performance(0.11)
Market Risk Adjusted Performance(0.54)
Mean Deviation0.1605
Coefficient Of Variation(894.69)
Standard Deviation0.1993
Variance0.0397
Information Ratio(0.45)
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential stock investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.

Parnassus Fixed Suggested Diversification Pairs

Pair trading is one of the very effective strategies used by professional day traders and hedge funds capitalizing on short-time and mid-term market inefficiencies. The approach is based on the fact that the ratio of prices of two correlating shares is long-term stable and oscillates around the average value. If the correlation ratio comes outside the common area, you can speculate with a high success rate that the ratio will return to the mean value and collect a profit.
Visa vs. Parnassus Fixed
Walker Dunlop vs. Parnassus Fixed
Square vs. Parnassus Fixed
Flowers Foods vs. Parnassus Fixed
Salesforce vs. Parnassus Fixed
Realty Income vs. Parnassus Fixed
Main Street vs. Parnassus Fixed
Vmware vs. Parnassus Fixed
GM vs. Parnassus Fixed
General Mills vs. Parnassus Fixed
Microsoft Corp vs. Parnassus Fixed
The effect of pair diversification on risk is to reduce it, but we should note this doesn't apply to all risk types. When we trade pairs against Parnassus Fixed as a counterpart, there is always some inherent risk that will never be diversified away no matter what. This volatility limits the effect of tactical diversification using pair trading. Parnassus Fixed's systematic risk is the inherent uncertainty of the entire market, and therefore cannot be mitigated even by pair-trading it against the equity that is not highly correlated to it. On the other hand, Parnassus Fixed's unsystematic risk describes the types of risk that we can protect against, at least to some degree, by selecting a matching pair that is not perfectly correlated to Parnassus Fixed Income.
Please check Your Equity Center. Note that the Parnassus Fixed Income information on this page should be used as a complementary analysis to other Parnassus Fixed'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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.

Complementary Tools for Parnassus Mutual Fund analysis

When running Parnassus Fixed Income price analysis, check to measure Parnassus Fixed'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 Parnassus Fixed is operating at the current time. Most of Parnassus Fixed's value examination focuses on studying past and present price action to predict the probability of Parnassus Fixed's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Parnassus Fixed's price. Additionally, you may evaluate how the addition of Parnassus Fixed to your portfolios can decrease your overall portfolio volatility.
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Go
Portfolio Suggestion
Get suggestions outside of your existing asset allocation including your own model portfolios
Go
Commodity Channel Index
Use Commodity Channel Index to analyze current equity momentum
Go
Money Managers
Screen money managers from public funds and ETFs managed around the world
Go
Global Markets Map
Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes
Go
Portfolio Center
All portfolio management and optimization tools to improve performance of your portfolios
Go
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Go
Please note, there is a significant difference between Parnassus Fixed's value and its price as these two are different measures arrived at by different means. Investors typically determine Parnassus Fixed value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Parnassus Fixed's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.