Pace Municipal Fixed Fund Market Value
| PMUAX Fund | USD 12.25 0.03 0.25% |
| Symbol | Pace |
Pace 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 Pace Municipal'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 Pace Municipal.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Pace Municipal on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Pace Municipal Fixed or generate 0.0% return on investment in Pace Municipal over 30 days. Pace Municipal is related to or competes with Vanguard Intermediate, Tax Exempt, Blackrock National, HUMANA, Thrivent High, Morningstar Unconstrained, and High-yield Municipal. The fund invests at least 80 percent of its net assets in municipal fixed income investments, the income from which is e... More
Pace 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 Pace Municipal'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 Pace Municipal Fixed upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3218 | |||
| Information Ratio | (0.61) | |||
| Maximum Drawdown | 1.07 | |||
| Value At Risk | (0.24) | |||
| Potential Upside | 0.2473 |
Pace Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pace Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pace Municipal's standard deviation. In reality, there are many statistical measures that can use Pace Municipal historical prices to predict the future Pace Municipal's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | 0.0029 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.37) | |||
| Treynor Ratio | 0.072 |
Pace Municipal Fixed Backtested Returns
At this stage we consider Pace Mutual Fund to be very steady. Pace Municipal Fixed maintains Sharpe Ratio (i.e., Efficiency) of 0.0269, which implies the entity had a 0.0269% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Pace Municipal Fixed, which you can use to evaluate the volatility of the fund. Please check Pace Municipal's Risk Adjusted Performance of (0.01), semi deviation of 0.1781, and Coefficient Of Variation of 3816.27 to confirm if the risk estimate we provide is consistent with the expected return of 0.0054%. The fund holds a Beta of -0.0674, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Pace Municipal are expected to decrease at a much lower rate. During the bear market, Pace Municipal is likely to outperform the market.
Auto-correlation | 0.71 |
Good predictability
Pace Municipal Fixed has good predictability. Overlapping area represents the amount of predictability between Pace Municipal time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Pace Municipal Fixed price movement. The serial correlation of 0.71 indicates that around 71.0% of current Pace Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.71 | |
| Spearman Rank Test | 0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Pace Municipal Fixed lagged returns against current returns
Autocorrelation, which is Pace Municipal 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 Pace Municipal's mutual fund expected returns. We can calculate the autocorrelation of Pace Municipal returns to help us make a trade decision. For example, suppose you find that Pace Municipal 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 |
Pace 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 Pace Municipal mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pace Municipal mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pace Municipal mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Pace Municipal Lagged Returns
When evaluating Pace Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pace Municipal mutual fund have on its future price. Pace 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, Pace Municipal autocorrelation shows the relationship between Pace Municipal mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pace Municipal Fixed.
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 Pace Mutual Fund
Pace Municipal financial ratios help investors to determine whether Pace 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 Pace with respect to the benefits of owning Pace Municipal security.
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |