Parnassus Core Select Etf Market Value
| PRCS Etf | 24.59 0.14 0.57% |
| Symbol | Parnassus |
The market value of Parnassus Core Select 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 Core's value that differs from its market value or its book value, called intrinsic value, which is Parnassus Core'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 Core's market value can be influenced by many factors that don't directly affect Parnassus Core'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 Core's value and its price as these two are different measures arrived at by different means. Investors typically determine if Parnassus Core is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Parnassus Core'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 Core '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 Core'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 Core.
| 03/26/2025 |
| 06/24/2025 |
If you would invest 0.00 in Parnassus Core on March 26, 2025 and sell it all today you would earn a total of 0.00 from holding Parnassus Core Select or generate 0.0% return on investment in Parnassus Core over 90 days. Parnassus Core is related to or competes with Vanguard Total, SPDR SP, IShares Core, Vanguard Total, Vanguard Value, Vanguard Growth, and Vanguard Mid. Parnassus Core is entity of United States More
Parnassus Core 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 Core'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 Core Select upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.82 | |||
| Information Ratio | 0.0369 | |||
| Maximum Drawdown | 11.82 | |||
| Value At Risk | (2.37) | |||
| Potential Upside | 2.07 |
Parnassus Core Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parnassus Core's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parnassus Core's standard deviation. In reality, there are many statistical measures that can use Parnassus Core historical prices to predict the future Parnassus Core's volatility.| Risk Adjusted Performance | 0.0942 | |||
| Jensen Alpha | 0.0922 | |||
| Total Risk Alpha | 0.0629 | |||
| Sortino Ratio | 0.0354 | |||
| Treynor Ratio | (0.94) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Parnassus Core'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 Core Select Backtested Returns
Currently, Parnassus Core Select is very steady. Parnassus Core Select maintains Sharpe Ratio (i.e., Efficiency) of 0.0477, which implies the entity had a 0.0477 % return per unit of risk over the last 3 months. We have found thirty technical indicators for Parnassus Core Select, which you can use to evaluate the volatility of the etf. Please check Parnassus Core's Risk Adjusted Performance of 0.0942, semi deviation of 1.63, and Coefficient Of Variation of 1752.08 to confirm if the risk estimate we provide is consistent with the expected return of 0.0859%. The etf holds a Beta of -0.0951, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Parnassus Core are expected to decrease at a much lower rate. During the bear market, Parnassus Core is likely to outperform the market.
Auto-correlation | 0.39 |
Below average predictability
Parnassus Core Select has below average predictability. Overlapping area represents the amount of predictability between Parnassus Core time series from 26th of March 2025 to 10th of May 2025 and 10th of May 2025 to 24th of June 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 Core Select price movement. The serial correlation of 0.39 indicates that just about 39.0% of current Parnassus Core price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.39 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Parnassus Core Select lagged returns against current returns
Autocorrelation, which is Parnassus Core 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 Core's etf expected returns. We can calculate the autocorrelation of Parnassus Core returns to help us make a trade decision. For example, suppose you find that Parnassus Core 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 Core 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 Core etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parnassus Core etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parnassus Core etf over time.
Current vs Lagged Prices |
| Timeline |
Parnassus Core Lagged Returns
When evaluating Parnassus Core's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parnassus Core etf have on its future price. Parnassus Core 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 Core autocorrelation shows the relationship between Parnassus Core etf current value and its past values and can show if there is a momentum factor associated with investing in Parnassus Core Select.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out Parnassus Core Correlation, Parnassus Core Volatility and Parnassus Core Alpha and Beta module to complement your research on Parnassus Core. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Parnassus Core technical etf 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, etf market cycles, or different charting patterns.