Power Momentum Index Fund Market Value
| MOJAX Fund | USD 15.03 0.03 0.20% |
| Symbol | Power |
Power Momentum '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 Power Momentum'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 Power Momentum.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Power Momentum on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Power Momentum Index or generate 0.0% return on investment in Power Momentum over 360 days. Power Momentum is related to or competes with Jhancock Diversified, Harbor Diversified, Oppenheimer International, Blackrock Conservative, Massmutual Premier, and Huber Capital. The adviser seeks to achieve the funds objectives by seeking to track the FCF Risk Managed Sector Neutral Momentum Index... More
Power Momentum 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 Power Momentum'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 Power Momentum Index upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8624 | |||
| Information Ratio | 0.0347 | |||
| Maximum Drawdown | 4.06 | |||
| Value At Risk | (1.14) | |||
| Potential Upside | 1.7 |
Power Momentum Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Power Momentum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Power Momentum's standard deviation. In reality, there are many statistical measures that can use Power Momentum historical prices to predict the future Power Momentum's volatility.| Risk Adjusted Performance | 0.1375 | |||
| Jensen Alpha | 0.0458 | |||
| Total Risk Alpha | 0.015 | |||
| Sortino Ratio | 0.0348 | |||
| Treynor Ratio | 0.1675 |
Power Momentum Index Backtested Returns
At this stage we consider Power Mutual Fund to be very steady. Power Momentum Index maintains Sharpe Ratio (i.e., Efficiency) of 0.18, which implies the entity had a 0.18% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Power Momentum Index, which you can use to evaluate the volatility of the fund. Please check Power Momentum's Semi Deviation of 0.6149, risk adjusted performance of 0.1375, and Coefficient Of Variation of 560.3 to confirm if the risk estimate we provide is consistent with the expected return of 0.15%. The fund holds a Beta of 0.86, which implies possible diversification benefits within a given portfolio. Power Momentum returns are very sensitive to returns on the market. As the market goes up or down, Power Momentum is expected to follow.
Auto-correlation | 0.38 |
Below average predictability
Power Momentum Index has below average predictability. Overlapping area represents the amount of predictability between Power Momentum time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd of December 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 Power Momentum Index price movement. The serial correlation of 0.38 indicates that just about 38.0% of current Power Momentum price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.38 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.18 |
Power Momentum Index lagged returns against current returns
Autocorrelation, which is Power Momentum 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 Power Momentum's mutual fund expected returns. We can calculate the autocorrelation of Power Momentum returns to help us make a trade decision. For example, suppose you find that Power Momentum 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 |
Power Momentum 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 Power Momentum mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Power Momentum mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Power Momentum mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Power Momentum Lagged Returns
When evaluating Power Momentum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Power Momentum mutual fund have on its future price. Power Momentum 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, Power Momentum autocorrelation shows the relationship between Power Momentum mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Power Momentum Index.
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 Power Mutual Fund
Power Momentum financial ratios help investors to determine whether Power 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 Power with respect to the benefits of owning Power Momentum security.
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