Nuveen Michigan Municipal Fund Market Value
| FAFNX Fund | USD 10.69 0.02 0.19% |
| Symbol | Nuveen |
Nuveen Michigan '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 Nuveen Michigan'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 Nuveen Michigan.
| 09/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Nuveen Michigan on September 4, 2023 and sell it all today you would earn a total of 0.00 from holding Nuveen Michigan Municipal or generate 0.0% return on investment in Nuveen Michigan over 450 days. Nuveen Michigan is related to or competes with Conservative Balanced, Massmutual Select, Huber Capital, Lord Abbett, Pimco Diversified, Guggenheim Diversified, and Pgim Conservative. Under normal market conditions, the fund invests at least 80 percent of its net assets in investment grade municipal bon... More
Nuveen Michigan 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 Nuveen Michigan'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 Nuveen Michigan Municipal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.38 | |||
| Information Ratio | (0.49) | |||
| Maximum Drawdown | 1.61 | |||
| Value At Risk | (0.37) | |||
| Potential Upside | 0.3735 |
Nuveen Michigan Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nuveen Michigan's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nuveen Michigan's standard deviation. In reality, there are many statistical measures that can use Nuveen Michigan historical prices to predict the future Nuveen Michigan's volatility.| Risk Adjusted Performance | 0.0065 | |||
| Jensen Alpha | 0.0121 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.32) | |||
| Treynor Ratio | 0.0104 |
Nuveen Michigan Municipal Backtested Returns
At this stage we consider Nuveen Mutual Fund to be very steady. Nuveen Michigan Municipal has Sharpe Ratio of 0.0478, which conveys that the entity had a 0.0478% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Nuveen Michigan, which you can use to evaluate the volatility of the fund. Please verify Nuveen Michigan's Downside Deviation of 0.38, risk adjusted performance of 0.0065, and Mean Deviation of 0.1498 to check out if the risk estimate we provide is consistent with the expected return of 0.0121%. The fund secures a Beta (Market Risk) of -0.11, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nuveen Michigan are expected to decrease at a much lower rate. During the bear market, Nuveen Michigan is likely to outperform the market.
Auto-correlation | 0.74 |
Good predictability
Nuveen Michigan Municipal has good predictability. Overlapping area represents the amount of predictability between Nuveen Michigan time series from 4th of September 2023 to 16th of April 2024 and 16th of April 2024 to 27th 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 Nuveen Michigan Municipal price movement. The serial correlation of 0.74 indicates that around 74.0% of current Nuveen Michigan price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Nuveen Michigan Municipal lagged returns against current returns
Autocorrelation, which is Nuveen Michigan 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 Nuveen Michigan's mutual fund expected returns. We can calculate the autocorrelation of Nuveen Michigan returns to help us make a trade decision. For example, suppose you find that Nuveen Michigan 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 |
Nuveen Michigan 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 Nuveen Michigan mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nuveen Michigan mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nuveen Michigan mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nuveen Michigan Lagged Returns
When evaluating Nuveen Michigan's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nuveen Michigan mutual fund have on its future price. Nuveen Michigan 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, Nuveen Michigan autocorrelation shows the relationship between Nuveen Michigan mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nuveen Michigan Municipal.
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 Nuveen Mutual Fund
Nuveen Michigan financial ratios help investors to determine whether Nuveen 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 Nuveen with respect to the benefits of owning Nuveen Michigan security.
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