Nuveen Pennsylvania Quality Fund Market Value
| NQP Fund | USD 11.98 0.14 1.18% |
| Symbol | Nuveen |
Nuveen Pennsylvania '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 Pennsylvania'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 Pennsylvania.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in Nuveen Pennsylvania on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding Nuveen Pennsylvania Quality or generate 0.0% return on investment in Nuveen Pennsylvania over 720 days. Nuveen Pennsylvania is related to or competes with Invesco Trust, Invesco California, GAMCO Natural, Invesco Advantage, Blackrock Muniholdings, Nuveen New, and Nuveen New. Nuveen Pennsylvania Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investme... More
Nuveen Pennsylvania 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 Pennsylvania'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 Pennsylvania Quality upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 2.12 | |||
| Value At Risk | (1.02) | |||
| Potential Upside | 0.7395 |
Nuveen Pennsylvania Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nuveen Pennsylvania's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nuveen Pennsylvania's standard deviation. In reality, there are many statistical measures that can use Nuveen Pennsylvania historical prices to predict the future Nuveen Pennsylvania's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.12) | |||
| Treynor Ratio | 7.22 |
Nuveen Pennsylvania Backtested Returns
Nuveen Pennsylvania has Sharpe Ratio of -0.0439, which conveys that the entity had a -0.0439% return per unit of risk over the last 3 months. Nuveen Pennsylvania exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nuveen Pennsylvania's Risk Adjusted Performance of (0.05), mean deviation of 0.3865, and Standard Deviation of 0.5022 to check out the risk estimate we provide. The fund secures a Beta (Market Risk) of -0.0056, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nuveen Pennsylvania are expected to decrease at a much lower rate. During the bear market, Nuveen Pennsylvania is likely to outperform the market.
Auto-correlation | -0.62 |
Very good reverse predictability
Nuveen Pennsylvania Quality has very good reverse predictability. Overlapping area represents the amount of predictability between Nuveen Pennsylvania time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 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 Nuveen Pennsylvania price movement. The serial correlation of -0.62 indicates that roughly 62.0% of current Nuveen Pennsylvania price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.62 | |
| Spearman Rank Test | -0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 0.29 |
Nuveen Pennsylvania lagged returns against current returns
Autocorrelation, which is Nuveen Pennsylvania 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 Pennsylvania's fund expected returns. We can calculate the autocorrelation of Nuveen Pennsylvania returns to help us make a trade decision. For example, suppose you find that Nuveen Pennsylvania 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 Pennsylvania 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 Pennsylvania fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nuveen Pennsylvania fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nuveen Pennsylvania fund over time.
Current vs Lagged Prices |
| Timeline |
Nuveen Pennsylvania Lagged Returns
When evaluating Nuveen Pennsylvania's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nuveen Pennsylvania fund have on its future price. Nuveen Pennsylvania 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 Pennsylvania autocorrelation shows the relationship between Nuveen Pennsylvania fund current value and its past values and can show if there is a momentum factor associated with investing in Nuveen Pennsylvania Quality.
Regressed Prices |
| Timeline |
Pair Trading with Nuveen Pennsylvania
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 Pennsylvania 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 Pennsylvania will appreciate offsetting losses from the drop in the long position's value.Moving against Nuveen Fund
| 0.83 | FSRBX | Banking Portfolio Banking | PairCorr |
| 0.79 | WCPSX | Mobile Telecommunicatio | PairCorr |
| 0.75 | TEGYX | Mid Cap Growth | PairCorr |
| 0.73 | LGPIX | Large Cap Growth | PairCorr |
| 0.72 | VSTSX | Vanguard Total Stock | PairCorr |
The ability to find closely correlated positions to Nuveen Pennsylvania 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 Pennsylvania 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 Pennsylvania - 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 Pennsylvania Quality to buy it.
The correlation of Nuveen Pennsylvania 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 Pennsylvania moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuveen Pennsylvania 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 Pennsylvania 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 Pennsylvania 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 Pennsylvania security.
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