Parnassus Endeavor Fund Market Value
| PARWX Fund | USD 59.82 0.17 0.28% |
| Symbol | Parnassus |
Parnassus Endeavor '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 Endeavor'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 Endeavor.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in Parnassus Endeavor on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding Parnassus Endeavor Fund or generate 0.0% return on investment in Parnassus Endeavor over 90 days. Parnassus Endeavor is related to or competes with Parnassus Mid, Parnassus Core, Parnassus Fund, Large Cap, and Akre Focus. The funds objective is to achieve capital appreciation by investing primarily in a diversified portfolio of equity secur... More
Parnassus Endeavor 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 Endeavor'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 Endeavor Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.687 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 2.88 | |||
| Value At Risk | (1.00) | |||
| Potential Upside | 1.17 |
Parnassus Endeavor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Endeavor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Endeavor's standard deviation. In reality, there are many statistical measures that can use Parnassus Endeavor historical prices to predict the future Parnassus Endeavor's volatility.| Risk Adjusted Performance | 0.132 | |||
| Jensen Alpha | 0.011 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.1415 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Parnassus Endeavor'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 Endeavor Backtested Returns
At this stage we consider Parnassus Mutual Fund to be very steady. Parnassus Endeavor 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-eight technical indicators for Parnassus Endeavor, which you can use to evaluate the volatility of the fund. Please check Parnassus Endeavor's Risk Adjusted Performance of 0.132, coefficient of variation of 575.12, and Semi Deviation of 0.4943 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. The fund holds a Beta of 0.79, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Parnassus Endeavor's returns are expected to increase less than the market. However, during the bear market, the loss of holding Parnassus Endeavor is expected to be smaller as well.
Auto-correlation | 0.53 |
Modest predictability
Parnassus Endeavor Fund has modest predictability. Overlapping area represents the amount of predictability between Parnassus Endeavor time series from 2nd of September 2024 to 17th of October 2024 and 17th of October 2024 to 1st 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 Parnassus Endeavor price movement. The serial correlation of 0.53 indicates that about 53.0% of current Parnassus Endeavor price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 1.02 |
Parnassus Endeavor lagged returns against current returns
Autocorrelation, which is Parnassus Endeavor 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 Endeavor's mutual fund expected returns. We can calculate the autocorrelation of Parnassus Endeavor returns to help us make a trade decision. For example, suppose you find that Parnassus Endeavor 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 Endeavor 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 Endeavor mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Endeavor 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 Endeavor mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Endeavor Lagged Returns
When evaluating Parnassus Endeavor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Endeavor mutual fund have on its future price. Parnassus Endeavor 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 Endeavor autocorrelation shows the relationship between Parnassus Endeavor mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Endeavor Fund.
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 Endeavor 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 Endeavor security.
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