Fidelity Municipal Income Fund Market Value
| FMIFX Fund | USD 21.54 0.12 0.55% |
| Symbol | Fidelity |
Fidelity Municipal '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 Fidelity Municipal'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 Fidelity Municipal.
| 01/04/2025 |
| 02/03/2025 |
If you would invest 0.00 in Fidelity Municipal on January 4, 2025 and sell it all today you would earn a total of 0.00 from holding Fidelity Municipal Income or generate 0.0% return on investment in Fidelity Municipal over 30 days. Fidelity Municipal is related to or competes with John Hancock, Davis Financial, Fidelity Advisor, and Icon Financial. The fund invests mainly in a limited number of large capitalization value stocks of foreign companies More
Fidelity Municipal 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 Fidelity Municipal'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 Fidelity Municipal Income upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 3.94 | |||
| Value At Risk | (1.04) | |||
| Potential Upside | 1.42 |
Fidelity Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Municipal's standard deviation. In reality, there are many statistical measures that can use Fidelity Municipal historical prices to predict the future Fidelity Municipal's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.06) |
Fidelity Municipal Income Backtested Returns
Fidelity Municipal Income secures Sharpe Ratio (or Efficiency) of -0.0259, which denotes the fund had a -0.0259 % return per unit of risk over the last 3 months. Fidelity Municipal Income exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity Municipal's Variance of 0.6473, standard deviation of 0.8046, and Mean Deviation of 0.6187 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.44, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fidelity Municipal's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Municipal is expected to be smaller as well.
Auto-correlation | -0.29 |
Weak reverse predictability
Fidelity Municipal Income has weak reverse predictability. Overlapping area represents the amount of predictability between Fidelity Municipal time series from 4th of January 2025 to 19th of January 2025 and 19th of January 2025 to 3rd of February 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 Fidelity Municipal Income price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Fidelity Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Fidelity Municipal Income lagged returns against current returns
Autocorrelation, which is Fidelity Municipal 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 Fidelity Municipal's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Municipal returns to help us make a trade decision. For example, suppose you find that Fidelity Municipal 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 |
Fidelity Municipal 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 Fidelity Municipal mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Municipal mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Municipal mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Municipal Lagged Returns
When evaluating Fidelity Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Municipal mutual fund have on its future price. Fidelity Municipal 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, Fidelity Municipal autocorrelation shows the relationship between Fidelity Municipal mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Municipal Income.
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 Fidelity Mutual Fund
Fidelity Municipal financial ratios help investors to determine whether Fidelity 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 Fidelity with respect to the benefits of owning Fidelity Municipal security.
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