Parnassus Fixed Income Fund Market Value
| PFPLX Fund | USD 14.91 0.05 0.34% |
| Symbol | Parnassus |
Parnassus Fixed '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 Fixed'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 Fixed.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Parnassus Fixed on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Parnassus Fixed Income or generate 0.0% return on investment in Parnassus Fixed over 30 days. Parnassus Fixed is related to or competes with Parnassus Fund, Parnassus Mid, Parnassus Endeavor, Parnassus Equity, and Parnassus Fixed. The fund normally invests at least 80 percent of its net assets in a diversified portfolio of bonds and other fixed inco... More
Parnassus Fixed 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 Fixed'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 Fixed Income upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.52) | |||
| Maximum Drawdown | 1.14 | |||
| Value At Risk | (0.54) | |||
| Potential Upside | 0.4027 |
Parnassus Fixed Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Fixed's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Fixed's standard deviation. In reality, there are many statistical measures that can use Parnassus Fixed historical prices to predict the future Parnassus Fixed's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.06) | |||
| Treynor Ratio | 0.3223 |
Parnassus Fixed Income Backtested Returns
Parnassus Fixed Income maintains Sharpe Ratio (i.e., Efficiency) of -0.0181, which implies the entity had a -0.0181% return per unit of risk over the last 3 months. Parnassus Fixed Income exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Parnassus Fixed's Variance of 0.0737, coefficient of variation of (7,344), and Risk Adjusted Performance of (0.03) to confirm the risk estimate we provide. The fund holds a Beta of -0.0425, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Parnassus Fixed are expected to decrease at a much lower rate. During the bear market, Parnassus Fixed is likely to outperform the market.
Auto-correlation | -0.4 |
Poor reverse predictability
Parnassus Fixed Income has poor reverse predictability. Overlapping area represents the amount of predictability between Parnassus Fixed time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 Fixed Income price movement. The serial correlation of -0.4 indicates that just about 40.0% of current Parnassus Fixed price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.4 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Parnassus Fixed Income lagged returns against current returns
Autocorrelation, which is Parnassus Fixed 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 Fixed's mutual fund expected returns. We can calculate the autocorrelation of Parnassus Fixed returns to help us make a trade decision. For example, suppose you find that Parnassus Fixed 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 Fixed 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 Fixed mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Fixed 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 Fixed mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Fixed Lagged Returns
When evaluating Parnassus Fixed's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Fixed mutual fund have on its future price. Parnassus Fixed 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 Fixed autocorrelation shows the relationship between Parnassus Fixed mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Fixed Income.
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 Fixed 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 Fixed security.
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