Nuveen Municipal Credit Fund Market Value
| NMCO Fund | USD 11.05 0.02 0.18% |
| Symbol | Nuveen |
Nuveen 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 Nuveen Municipal's 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 Municipal.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Nuveen Municipal on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Nuveen Municipal Credit or generate 0.0% return on investment in Nuveen Municipal over 30 days. Nuveen Municipal is related to or competes with Munivest Fund, Blackrock Muniholdings, DWS Municipal, Blackrock Muniholdings, Nuveen California, RiverNorth Flexible, and Blackrock Muniyield. Nuveen Municipal is entity of United States More
Nuveen 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 Nuveen Municipal's 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 Municipal Credit upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 3.99 | |||
| Value At Risk | (1.35) | |||
| Potential Upside | 1.04 |
Nuveen Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nuveen Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nuveen Municipal's standard deviation. In reality, there are many statistical measures that can use Nuveen Municipal historical prices to predict the future Nuveen Municipal's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.13) | |||
| Treynor Ratio | (3.93) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nuveen Municipal'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.
Nuveen Municipal Credit Backtested Returns
Nuveen Municipal Credit has Sharpe Ratio of -0.0356, which conveys that the entity had a -0.0356% return per unit of risk over the last 3 months. Nuveen Municipal exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nuveen Municipal's Risk Adjusted Performance of (0.03), mean deviation of 0.5272, and Standard Deviation of 0.7101 to check out the risk estimate we provide. The fund secures a Beta (Market Risk) of 0.0095, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nuveen Municipal's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nuveen Municipal is expected to be smaller as well.
Auto-correlation | -0.04 |
Very weak reverse predictability
Nuveen Municipal Credit has very weak reverse predictability. Overlapping area represents the amount of predictability between Nuveen Municipal time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Municipal Credit price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current Nuveen Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nuveen Municipal Credit lagged returns against current returns
Autocorrelation, which is Nuveen Municipal 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 Municipal's fund expected returns. We can calculate the autocorrelation of Nuveen Municipal returns to help us make a trade decision. For example, suppose you find that Nuveen Municipal has exhibited high autocorrelation historically, and you observe that the 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 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 Nuveen Municipal fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nuveen Municipal fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nuveen Municipal fund over time.
Current vs Lagged Prices |
| Timeline |
Nuveen Municipal Lagged Returns
When evaluating Nuveen Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nuveen Municipal fund have on its future price. Nuveen 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, Nuveen Municipal autocorrelation shows the relationship between Nuveen Municipal fund current value and its past values and can show if there is a momentum factor associated with investing in Nuveen Municipal Credit.
Regressed Prices |
| Timeline |
Pair Trading with Nuveen Municipal
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Nuveen Municipal position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Nuveen Municipal will appreciate offsetting losses from the drop in the long position's value.Moving together with Nuveen Fund
| 0.65 | NHCCX | Nuveen High Yield | PairCorr |
| 0.65 | NHMFX | Nuveen High Yield | PairCorr |
| 0.71 | ABHFX | American High Income | PairCorr |
Moving against Nuveen Fund
| 0.5 | VTSMX | Vanguard Total Stock | PairCorr |
| 0.45 | NTG | Tortoise Mlp Closed | PairCorr |
| 0.31 | AWRRF | AW Revenue Royalties | PairCorr |
The ability to find closely correlated positions to Nuveen Municipal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nuveen Municipal when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nuveen Municipal - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nuveen Municipal Credit to buy it.
The correlation of Nuveen Municipal is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuveen Municipal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen Municipal Credit moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Nuveen Municipal can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Nuveen Fund
Nuveen Municipal financial ratios help investors to determine whether Nuveen 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 Municipal security.
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