Franklin Michigan Tax Free Fund Market Value
| FRMTX Fund | USD 10.75 0.04 0.37% |
| Symbol | Franklin |
Franklin 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 Franklin 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 Franklin Michigan.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Franklin Michigan on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Franklin Michigan Tax Free or generate 0.0% return on investment in Franklin Michigan over 30 days. Franklin Michigan is related to or competes with Mirova Global, T Rowe, Touchstone Ohio, Maryland Tax-free, Barings Active, California Bond, and Sterling Capital. The fund invests at least 80 percent of its total assets in securities whose interest is free from federal income taxes,... More
Franklin 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 Franklin 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 Franklin Michigan Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3932 | |||
| Information Ratio | (0.50) | |||
| Maximum Drawdown | 1.41 | |||
| Value At Risk | (0.37) | |||
| Potential Upside | 0.3759 |
Franklin Michigan Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Franklin Michigan's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Franklin Michigan's standard deviation. In reality, there are many statistical measures that can use Franklin Michigan historical prices to predict the future Franklin Michigan's volatility.| Risk Adjusted Performance | 0.0199 | |||
| Jensen Alpha | 0.0139 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.30) | |||
| Treynor Ratio | (0.03) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Franklin Michigan'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 Michigan Tax Backtested Returns
At this stage we consider Franklin Mutual Fund to be very steady. Franklin Michigan Tax secures Sharpe Ratio (or Efficiency) of 0.0694, which denotes the fund had a 0.0694% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for Franklin Michigan Tax Free, which you can use to evaluate the volatility of the entity. Please confirm Franklin Michigan's Downside Deviation of 0.3932, mean deviation of 0.1401, and Semi Deviation of 0.2053 to check if the risk estimate we provide is consistent with the expected return of 0.0163%. The fund shows a Beta (market volatility) of -0.0905, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Franklin Michigan are expected to decrease at a much lower rate. During the bear market, Franklin Michigan is likely to outperform the market.
Auto-correlation | 0.55 |
Modest predictability
Franklin Michigan Tax Free has modest predictability. Overlapping area represents the amount of predictability between Franklin Michigan time series from 28th of October 2024 to 12th of November 2024 and 12th of November 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 Franklin Michigan Tax price movement. The serial correlation of 0.55 indicates that about 55.0% of current Franklin Michigan price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Franklin Michigan Tax lagged returns against current returns
Autocorrelation, which is Franklin 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 Franklin Michigan's mutual fund expected returns. We can calculate the autocorrelation of Franklin Michigan returns to help us make a trade decision. For example, suppose you find that Franklin 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 |
Franklin 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 Franklin Michigan mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Franklin 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 Franklin Michigan mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Franklin Michigan Lagged Returns
When evaluating Franklin Michigan's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Franklin Michigan mutual fund have on its future price. Franklin 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, Franklin Michigan autocorrelation shows the relationship between Franklin Michigan mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Franklin Michigan Tax Free.
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 Franklin Mutual Fund
Franklin Michigan financial ratios help investors to determine whether Franklin 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 Franklin with respect to the benefits of owning Franklin Michigan security.
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |