Nuveen New Jersey Fund Market Value
| NMNJX Fund | USD 10.72 0.06 0.56% |
| Symbol | Nuveen |
Nuveen New '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 New'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 New.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in Nuveen New on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding Nuveen New Jersey or generate 0.0% return on investment in Nuveen New over 360 days. Nuveen New is related to or competes with T Rowe, Dreyfus/standish, Multisector Bond, Rational/pier, and Thrivent Income. The fund invests at least 80 percent of its net assets in investment grade municipal bonds rated BBBBaa or higher at the... More
Nuveen New 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 New'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 New Jersey upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4597 | |||
| Information Ratio | (0.40) | |||
| Maximum Drawdown | 1.61 | |||
| Value At Risk | (0.47) | |||
| Potential Upside | 0.382 |
Nuveen New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nuveen New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nuveen New's standard deviation. In reality, there are many statistical measures that can use Nuveen New historical prices to predict the future Nuveen New's volatility.| Risk Adjusted Performance | 0.054 | |||
| Jensen Alpha | 0.0299 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.24) | |||
| Treynor Ratio | (0.15) |
Nuveen New Jersey Backtested Returns
At this stage we consider Nuveen Mutual Fund to be very steady. Nuveen New Jersey has Sharpe Ratio of 0.0745, which conveys that the entity had a 0.0745% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nuveen New, which you can use to evaluate the volatility of the fund. Please verify Nuveen New's Risk Adjusted Performance of 0.054, downside deviation of 0.4597, and Mean Deviation of 0.1693 to check out if the risk estimate we provide is consistent with the expected return of 0.0209%. 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 New are expected to decrease at a much lower rate. During the bear market, Nuveen New is likely to outperform the market.
Auto-correlation | -0.06 |
Very weak reverse predictability
Nuveen New Jersey has very weak reverse predictability. Overlapping area represents the amount of predictability between Nuveen New time series from 7th of December 2023 to 4th of June 2024 and 4th of June 2024 to 1st of December 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 New Jersey price movement. The serial correlation of -0.06 indicates that barely 6.0% of current Nuveen New price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | -0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Nuveen New Jersey lagged returns against current returns
Autocorrelation, which is Nuveen New 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 New's mutual fund expected returns. We can calculate the autocorrelation of Nuveen New returns to help us make a trade decision. For example, suppose you find that Nuveen New 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 New 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 New mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nuveen New 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 New mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nuveen New Lagged Returns
When evaluating Nuveen New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nuveen New mutual fund have on its future price. Nuveen New 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 New autocorrelation shows the relationship between Nuveen New mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nuveen New Jersey.
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 New 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 New security.
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