Franklin Biotechnology Discovery Fund Market Value
| FBTDX Fund | USD 119.81 1.50 1.27% |
| Symbol | Franklin |
Franklin Biotechnology '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 Franklin Biotechnology'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 Franklin Biotechnology.
| 05/05/2022 |
| 04/24/2024 |
If you would invest 0.00 in Franklin Biotechnology on May 5, 2022 and sell it all today you would earn a total of 0.00 from holding Franklin Biotechnology Discovery or generate 0.0% return on investment in Franklin Biotechnology over 720 days. Franklin Biotechnology is related to or competes with Franklin Mutual, Templeton Developing, Franklin Mutual, Franklin Mutual, Franklin Mutual, Templeton Foreign, and Templeton Foreign. Under normal market conditions, the fund invests at least 80 percent of its net assets in securities of biotechnology co... More
Franklin Biotechnology 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 Franklin Biotechnology'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 Franklin Biotechnology Discovery upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.28 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 5.33 | |||
| Value At Risk | (2.18) | |||
| Potential Upside | 2.11 |
Franklin Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Franklin Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Franklin Biotechnology's standard deviation. In reality, there are many statistical measures that can use Franklin Biotechnology historical prices to predict the future Franklin Biotechnology's volatility.| Risk Adjusted Performance | 0.0156 | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0078 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Franklin Biotechnology'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.
Franklin Biotechnology Backtested Returns
We consider Franklin Biotechnology very steady. Franklin Biotechnology secures Sharpe Ratio (or Efficiency) of 4.0E-4, which denotes the fund had a 4.0E-4% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for Franklin Biotechnology Discovery, which you can use to evaluate the volatility of the entity. Please confirm Franklin Biotechnology's Mean Deviation of 1.03, downside deviation of 1.28, and Semi Deviation of 1.26 to check if the risk estimate we provide is consistent with the expected return of 4.0E-4%. The fund shows a Beta (market volatility) of 1.42, which means 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, Franklin Biotechnology will likely underperform.
Auto-correlation | 0.43 |
Average predictability
Franklin Biotechnology Discovery has average predictability. Overlapping area represents the amount of predictability between Franklin Biotechnology time series from 5th of May 2022 to 30th of April 2023 and 30th of April 2023 to 24th 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 Franklin Biotechnology price movement. The serial correlation of 0.43 indicates that just about 43.0% of current Franklin Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.43 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 138.12 |
Franklin Biotechnology lagged returns against current returns
Autocorrelation, which is Franklin Biotechnology 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 Franklin Biotechnology's mutual fund expected returns. We can calculate the autocorrelation of Franklin Biotechnology returns to help us make a trade decision. For example, suppose you find that Franklin Biotechnology 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 |
Franklin Biotechnology 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 Franklin Biotechnology mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Franklin Biotechnology mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Franklin Biotechnology mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Franklin Biotechnology Lagged Returns
When evaluating Franklin Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Franklin Biotechnology mutual fund have on its future price. Franklin Biotechnology 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, Franklin Biotechnology autocorrelation shows the relationship between Franklin Biotechnology mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Franklin Biotechnology Discovery.
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 Franklin Biotechnology 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, Franklin Biotechnology's short interest history, or implied volatility extrapolated from Franklin Biotechnology options trading.
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Franklin Biotechnology 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.