Fidelity Arizona Municipal Fund Market Value
| FSAZX Fund | USD 11.59 0.02 0.17% |
| Symbol | Fidelity |
Fidelity Arizona '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 Arizona'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 Arizona.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Fidelity Arizona on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Arizona Municipal or generate 0.0% return on investment in Fidelity Arizona over 30 days. Fidelity Arizona is related to or competes with Maryland Tax-free, HUMANA, Barloworld, Morningstar Unconstrained, Thrivent High, High-yield Municipal, and Via Renewables. The fund normally invests at least 80 percent of assets in investment-grade municipal securities whose interest is exemp... More
Fidelity Arizona 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 Arizona'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 Arizona Municipal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3516 | |||
| Information Ratio | (0.54) | |||
| Maximum Drawdown | 1.31 | |||
| Value At Risk | (0.34) | |||
| Potential Upside | 0.3445 |
Fidelity Arizona Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Arizona's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Arizona's standard deviation. In reality, there are many statistical measures that can use Fidelity Arizona historical prices to predict the future Fidelity Arizona's volatility.| Risk Adjusted Performance | 0.0126 | |||
| Jensen Alpha | 0.0123 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.34) | |||
| Treynor Ratio | (0.01) |
Fidelity Arizona Mun Backtested Returns
At this stage we consider Fidelity Mutual Fund to be very steady. Fidelity Arizona Mun secures Sharpe Ratio (or Efficiency) of 0.0612, which denotes the fund had a 0.0612% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Fidelity Arizona Municipal, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Arizona's Downside Deviation of 0.3516, mean deviation of 0.1333, and Coefficient Of Variation of 2058.93 to check if the risk estimate we provide is consistent with the expected return of 0.0138%. The fund shows a Beta (market volatility) of -0.0955, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fidelity Arizona are expected to decrease at a much lower rate. During the bear market, Fidelity Arizona is likely to outperform the market.
Auto-correlation | 0.61 |
Good predictability
Fidelity Arizona Municipal has good predictability. Overlapping area represents the amount of predictability between Fidelity Arizona 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 Fidelity Arizona Mun price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current Fidelity Arizona price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.61 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fidelity Arizona Mun lagged returns against current returns
Autocorrelation, which is Fidelity Arizona 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 Arizona's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Arizona returns to help us make a trade decision. For example, suppose you find that Fidelity Arizona 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 Arizona 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 Arizona mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Arizona 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 Arizona mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Arizona Lagged Returns
When evaluating Fidelity Arizona's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Arizona mutual fund have on its future price. Fidelity Arizona 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 Arizona autocorrelation shows the relationship between Fidelity Arizona mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Arizona 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 Fidelity Mutual Fund
Fidelity Arizona 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 Arizona security.
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