Pimco California Municipal Fund Market Value
| PCQ Fund | USD 9.53 0.04 0.42% |
| Symbol | Pimco |
Pimco California '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 Pimco California'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 Pimco California.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Pimco California on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Pimco California Municipal or generate 0.0% return on investment in Pimco California over 30 days. Pimco California is related to or competes with Pimco California, Nuveen California, Eaton Vance, Invesco California, Pimco California, BlackRock California, and Blackrock Muniholdings. PIMCO California Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global... More
Pimco California 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 Pimco California'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 Pimco California Municipal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6539 | |||
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 2.76 | |||
| Value At Risk | (1.00) | |||
| Potential Upside | 1.04 |
Pimco California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pimco California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pimco California's standard deviation. In reality, there are many statistical measures that can use Pimco California historical prices to predict the future Pimco California's volatility.| Risk Adjusted Performance | 0.0035 | |||
| Jensen Alpha | 0.0083 | |||
| Total Risk Alpha | (0.1) | |||
| Sortino Ratio | (0.19) | |||
| Treynor Ratio | 0.0458 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pimco California'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.
Pimco California Mun Backtested Returns
Currently, Pimco California Municipal is very steady. Pimco California Mun maintains Sharpe Ratio (i.e., Efficiency) of 0.0281, which implies the entity had a 0.0281% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Pimco California Mun, which you can use to evaluate the volatility of the fund. Please check Pimco California's Risk Adjusted Performance of 0.0035, semi deviation of 0.576, and Coefficient Of Variation of 12040.1 to confirm if the risk estimate we provide is consistent with the expected return of 0.0168%. The fund holds a Beta of -0.11, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Pimco California are expected to decrease at a much lower rate. During the bear market, Pimco California is likely to outperform the market.
Auto-correlation | 0.74 |
Good predictability
Pimco California Municipal has good predictability. Overlapping area represents the amount of predictability between Pimco California time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Pimco California Mun price movement. The serial correlation of 0.74 indicates that around 74.0% of current Pimco California price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Pimco California Mun lagged returns against current returns
Autocorrelation, which is Pimco California 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 Pimco California's fund expected returns. We can calculate the autocorrelation of Pimco California returns to help us make a trade decision. For example, suppose you find that Pimco California 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 |
Pimco California 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 Pimco California fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pimco California fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pimco California fund over time.
Current vs Lagged Prices |
| Timeline |
Pimco California Lagged Returns
When evaluating Pimco California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pimco California fund have on its future price. Pimco California 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, Pimco California autocorrelation shows the relationship between Pimco California fund current value and its past values and can show if there is a momentum factor associated with investing in Pimco California Municipal.
Regressed Prices |
| Timeline |
Pair Trading with Pimco California
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 Pimco California 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 Pimco California will appreciate offsetting losses from the drop in the long position's value.Moving against Pimco Fund
The ability to find closely correlated positions to Pimco California could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pimco California 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 Pimco California - 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 Pimco California Municipal to buy it.
The correlation of Pimco California 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 Pimco California moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pimco California Mun 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 Pimco California 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 Pimco Fund
Pimco California financial ratios help investors to determine whether Pimco 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 Pimco with respect to the benefits of owning Pimco California security.
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