Davis New York Fund Market Value
| DNVYX Fund | USD 30.34 0.34 1.13% |
| Symbol | Davis |
Davis New '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 Davis New'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 Davis New.
| 01/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Davis New on January 24, 2024 and sell it all today you would earn a total of 0.00 from holding Davis New York or generate 0.0% return on investment in Davis New over 90 days. Davis New is related to or competes with Davis International, Davis Financial, Davis Real, Davis Opportunity, Davis Government, Davis Real, and Davis Real. Davis Selected Advisers, L.P. , the funds investment adviser, uses the Davis Investment Discipline to invest the funds p... More
Davis New 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 Davis New'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 Davis New York upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8211 | |||
| Information Ratio | 0.098 | |||
| Maximum Drawdown | 4.68 | |||
| Value At Risk | (0.94) | |||
| Potential Upside | 1.4 |
Davis New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Davis New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Davis New's standard deviation. In reality, there are many statistical measures that can use Davis New historical prices to predict the future Davis New's volatility.| Risk Adjusted Performance | 0.1288 | |||
| Jensen Alpha | 0.1678 | |||
| Total Risk Alpha | 0.0536 | |||
| Sortino Ratio | 0.0997 | |||
| Treynor Ratio | (1.91) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Davis New'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.
Davis New York Backtested Returns
We consider Davis New very steady. Davis New York secures Sharpe Ratio (or Efficiency) of 0.16, which denotes the fund had a 0.16% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Davis New York, which you can use to evaluate the volatility of the entity. Please confirm Davis New's Mean Deviation of 0.6388, coefficient of variation of 488.0, and Downside Deviation of 0.8211 to check if the risk estimate we provide is consistent with the expected return of 0.13%. The fund shows a Beta (market volatility) of -0.0844, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Davis New are expected to decrease at a much lower rate. During the bear market, Davis New is likely to outperform the market.
Auto-correlation | 0.00 |
No correlation between past and present
Davis New York has no correlation between past and present. Overlapping area represents the amount of predictability between Davis New time series from 24th of January 2024 to 9th of March 2024 and 9th of March 2024 to 23rd of April 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 Davis New York price movement. The serial correlation of 0.0 indicates that just 0.0% of current Davis New price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.15 |
Davis New York lagged returns against current returns
Autocorrelation, which is Davis New 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 Davis New's mutual fund expected returns. We can calculate the autocorrelation of Davis New returns to help us make a trade decision. For example, suppose you find that Davis New 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 |
Davis New 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 Davis New mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Davis New mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Davis New mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Davis New Lagged Returns
When evaluating Davis New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Davis New mutual fund have on its future price. Davis New 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, Davis New autocorrelation shows the relationship between Davis New mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Davis New York.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Davis New in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Davis New's short interest history, or implied volatility extrapolated from Davis New options trading.
Pair Trading with Davis New
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Davis New position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Davis New will appreciate offsetting losses from the drop in the long position's value.Moving together with Davis Mutual Fund
| 0.65 | DILCX | Davis International | PairCorr |
| 0.65 | DILAX | Davis International | PairCorr |
| 0.95 | DILYX | Davis International | PairCorr |
| 0.91 | RPFGX | Davis Financial Steady Growth | PairCorr |
| 0.99 | RPFCX | Davis Appreciation | PairCorr |
The ability to find closely correlated positions to Davis New could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Davis New when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Davis New - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Davis New York to buy it.
The correlation of Davis New is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Davis New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Davis New York moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Davis New can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Davis New Correlation, Davis New Volatility and Davis New Alpha and Beta module to complement your research on Davis New. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Davis New technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.