Pace International Equity Fund Market Value
| PWITX Fund | 18.66 0.13 0.70% |
| Symbol | Pace |
Pace International '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 Pace International'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 Pace International.
| 09/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Pace International on September 29, 2024 and sell it all today you would earn a total of 0.00 from holding Pace International Equity or generate 0.0% return on investment in Pace International over 60 days. Pace International is related to or competes with Pace Smallmedium, Pace International, Ubs Us, Ubs Us, Pace Mortgage-backed, and Pace Mortgage. The fund invests at least 80 percent of its net assets in equity securities More
Pace International 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 Pace International'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 Pace International Equity upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 3.48 | |||
| Value At Risk | (1.21) | |||
| Potential Upside | 1.03 |
Pace International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pace International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pace International's standard deviation. In reality, there are many statistical measures that can use Pace International historical prices to predict the future Pace International's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.17) | |||
| Treynor Ratio | (0.22) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pace International'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.
Pace International Equity Backtested Returns
Pace International Equity maintains Sharpe Ratio (i.e., Efficiency) of -0.0964, which implies the entity had a -0.0964% return per unit of risk over the last 3 months. Pace International Equity exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Pace International's Risk Adjusted Performance of (0.06), variance of 0.487, and Coefficient Of Variation of (1,202) to confirm the risk estimate we provide. The fund holds a Beta of 0.31, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Pace International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pace International is expected to be smaller as well.
Auto-correlation | 0.65 |
Good predictability
Pace International Equity has good predictability. Overlapping area represents the amount of predictability between Pace International time series from 29th of September 2024 to 29th of October 2024 and 29th of October 2024 to 28th of November 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 Pace International Equity price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Pace International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Pace International Equity lagged returns against current returns
Autocorrelation, which is Pace International 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 Pace International's mutual fund expected returns. We can calculate the autocorrelation of Pace International returns to help us make a trade decision. For example, suppose you find that Pace International 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 |
Pace International 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 Pace International mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pace International mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pace International mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Pace International Lagged Returns
When evaluating Pace International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pace International mutual fund have on its future price. Pace International 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, Pace International autocorrelation shows the relationship between Pace International mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pace International Equity.
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 Pace Mutual Fund
Pace International financial ratios help investors to determine whether Pace 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 Pace with respect to the benefits of owning Pace International security.
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