Touchstone Mid Cap Fund Market Value
| TMAPX Fund | USD 51.45 0.27 0.52% |
| Symbol | Touchstone |
Touchstone Mid '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 Touchstone Mid'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 Touchstone Mid.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Touchstone Mid on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Touchstone Mid Cap or generate 0.0% return on investment in Touchstone Mid over 30 days. Touchstone Mid is related to or competes with Touchstone Small, Mid Cap, Touchstone Large, Sentinel Small, Touchstone Sands, Touchstone Large, and Sentinel Small. The fund invests, under normal market conditions, at least 80 percent of its assets in common stocks of medium capitaliz... More
Touchstone Mid 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 Touchstone Mid'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 Touchstone Mid Cap upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9913 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 3.88 | |||
| Value At Risk | (1.90) | |||
| Potential Upside | 1.36 |
Touchstone Mid Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Touchstone Mid's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Touchstone Mid's standard deviation. In reality, there are many statistical measures that can use Touchstone Mid historical prices to predict the future Touchstone Mid's volatility.| Risk Adjusted Performance | 0.0432 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0389 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Touchstone Mid'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.
Touchstone Mid Cap Backtested Returns
We consider Touchstone Mid very steady. Touchstone Mid Cap owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.024, which indicates the fund had a 0.024% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Touchstone Mid Cap, which you can use to evaluate the volatility of the fund. Please validate Touchstone Mid's Coefficient Of Variation of 1534.5, semi deviation of 0.8633, and Risk Adjusted Performance of 0.0432 to confirm if the risk estimate we provide is consistent with the expected return of 0.0207%. The entity has a beta of 1.21, which indicates a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Touchstone Mid will likely underperform.
Auto-correlation | 0.53 |
Modest predictability
Touchstone Mid Cap has modest predictability. Overlapping area represents the amount of predictability between Touchstone Mid time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Touchstone Mid Cap price movement. The serial correlation of 0.53 indicates that about 53.0% of current Touchstone Mid price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 1.21 |
Touchstone Mid Cap lagged returns against current returns
Autocorrelation, which is Touchstone Mid 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 Touchstone Mid's mutual fund expected returns. We can calculate the autocorrelation of Touchstone Mid returns to help us make a trade decision. For example, suppose you find that Touchstone Mid 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 |
Touchstone Mid 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 Touchstone Mid mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Touchstone Mid mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Touchstone Mid mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Touchstone Mid Lagged Returns
When evaluating Touchstone Mid's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Touchstone Mid mutual fund have on its future price. Touchstone Mid 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, Touchstone Mid autocorrelation shows the relationship between Touchstone Mid mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Touchstone Mid Cap.
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 Touchstone Mid 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, Touchstone Mid's short interest history, or implied volatility extrapolated from Touchstone Mid options trading.
Currently Active Assets on Macroaxis
Check out Touchstone Mid Correlation, Touchstone Mid Volatility and Touchstone Mid Alpha and Beta module to complement your research on Touchstone Mid. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Touchstone Mid 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.