Parnassus Income Funds Etf Market Value
| PRVS Etf | 24.07 0.18 0.75% |
| Symbol | Parnassus |
The market value of Parnassus Income Funds is measured differently than its book value, which is the value of Parnassus that is recorded on the company's balance sheet. Investors also form their own opinion of Parnassus Income's value that differs from its market value or its book value, called intrinsic value, which is Parnassus Income's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Parnassus Income's market value can be influenced by many factors that don't directly affect Parnassus Income's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Parnassus Income's value and its price as these two are different measures arrived at by different means. Investors typically determine if Parnassus Income is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Parnassus Income'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.
Parnassus Income '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 Income's etf 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 Income.
| 11/05/2024 |
| 01/04/2025 |
If you would invest 0.00 in Parnassus Income on November 5, 2024 and sell it all today you would earn a total of 0.00 from holding Parnassus Income Funds or generate 0.0% return on investment in Parnassus Income over 60 days. Parnassus Income is related to or competes with Vanguard Total, SPDR SP, IShares Core, Vanguard Total, Vanguard Value, Vanguard Growth, and Vanguard Mid. Parnassus Income is entity of United States More
Parnassus Income 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 Income's etf 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 Income Funds upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 2.79 | |||
| Value At Risk | (2.79) | |||
| Potential Upside | 1.48 |
Parnassus Income Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Income's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Income's standard deviation. In reality, there are many statistical measures that can use Parnassus Income historical prices to predict the future Parnassus Income's volatility.| Risk Adjusted Performance | (0.19) | |||
| Jensen Alpha | (0.23) | |||
| Total Risk Alpha | (0.25) | |||
| Treynor Ratio | (2.26) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Parnassus Income'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 Income Funds Backtested Returns
Parnassus Income is out of control given 3 months investment horizon. Parnassus Income Funds maintains Sharpe Ratio (i.e., Efficiency) of 0.24, which implies the entity had a 0.24% return per unit of risk over the last 3 months. We were able to interpolate and analyze data for twenty-three different technical indicators, which can help you to evaluate if expected returns of 58.61% are justified by taking the suggested risk. Use Parnassus Income Coefficient Of Variation of (428.84), risk adjusted performance of (0.19), and Variance of 0.9094 to evaluate company specific risk that cannot be diversified away. The etf holds a Beta of 0.1, which implies not very significant fluctuations relative to the market. As returns on the market increase, Parnassus Income's returns are expected to increase less than the market. However, during the bear market, the loss of holding Parnassus Income is expected to be smaller as well.
Auto-correlation | 0.00 |
No correlation between past and present
Parnassus Income Funds has no correlation between past and present. Overlapping area represents the amount of predictability between Parnassus Income time series from 5th of November 2024 to 5th of December 2024 and 5th of December 2024 to 4th of January 2025. 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 Income Funds price movement. The serial correlation of 0.0 indicates that just 0.0% of current Parnassus Income price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Parnassus Income Funds lagged returns against current returns
Autocorrelation, which is Parnassus Income etf'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 Income's etf expected returns. We can calculate the autocorrelation of Parnassus Income returns to help us make a trade decision. For example, suppose you find that Parnassus Income has exhibited high autocorrelation historically, and you observe that the etf 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 Income 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 Income etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Income etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parnassus Income etf over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Income Lagged Returns
When evaluating Parnassus Income's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Income etf have on its future price. Parnassus Income 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 Income autocorrelation shows the relationship between Parnassus Income etf current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Income Funds.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Other Information on Investing in Parnassus Etf
Parnassus Income financial ratios help investors to determine whether Parnassus Etf 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 Income security.