Nuveen Municipal High Fund Market Value
| NMZ Fund | USD 11.15 0.05 0.45% |
| 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 High or generate 0.0% return on investment in Nuveen Municipal over 30 days. Nuveen Municipal is related to or competes with Atac Inflation, Western Asset, Deutsche Global, Schwab Treasury, Guidepath(r) Managed, Ab Bond, and Ab Municipal. Nuveen Municipal High Income Opportunity Fund is a closed-end fixed income mutual fund launched by Nuveen Investments In... 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 High upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7074 | |||
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 3.17 | |||
| Value At Risk | (1.04) | |||
| Potential Upside | 1.09 |
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 | 0.0237 | |||
| Jensen Alpha | 0.0047 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | 0.1747 |
Nuveen Municipal High Backtested Returns
At this stage we consider Nuveen Fund to be very steady. Nuveen Municipal High has Sharpe Ratio of 0.0213, which conveys that the entity had a 0.0213% return per unit of risk over the last 3 months. We have found thirty technical indicators for Nuveen Municipal, which you can use to evaluate the volatility of the fund. Please verify Nuveen Municipal's Mean Deviation of 0.4508, risk adjusted performance of 0.0237, and Downside Deviation of 0.7074 to check out if the risk estimate we provide is consistent with the expected return of 0.0131%. The fund secures a Beta (Market Risk) of 0.0628, 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 | -0.83 |
Excellent reverse predictability
Nuveen Municipal High has excellent 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 High price movement. The serial correlation of -0.83 indicates that around 83.0% of current Nuveen Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.83 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nuveen Municipal High 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 High.
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 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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