California Tax Free Bond Fund Market Value
| PRXCX Fund | USD 10.79 0.01 0.09% |
| Symbol | California |
California Tax '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 California Tax'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 California Tax.
| 08/05/2024 |
| 02/01/2025 |
If you would invest 0.00 in California Tax on August 5, 2024 and sell it all today you would earn a total of 0.00 from holding California Tax Free Bond or generate 0.0% return on investment in California Tax over 180 days. California Tax is related to or competes with T Rowe, New York, T Rowe, T Rowe, and T Rowe. The fund invests so that, under normal market conditions, at least 80 percent of its net assets are invested in bonds that pay interest exempt from federal and California state income taxes, and at least 80 percent of the funds income is expected to be exempt from federal and California state income taxes. More
California Tax 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 California Tax'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 California Tax Free Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.445 | |||
| Information Ratio | (0.28) | |||
| Maximum Drawdown | 1.67 | |||
| Value At Risk | (0.55) | |||
| Potential Upside | 0.4664 |
California Tax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for California Tax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as California Tax's standard deviation. In reality, there are many statistical measures that can use California Tax historical prices to predict the future California Tax's volatility.| Risk Adjusted Performance | 0.0147 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.20) | |||
| Treynor Ratio | 0.0362 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of California Tax'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.
California Tax Free Backtested Returns
California Tax Free secures Sharpe Ratio (or Efficiency) of -0.0183, which signifies that the fund had a -0.0183 % return per unit of risk over the last 3 months. California Tax Free Bond exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm California Tax's Risk Adjusted Performance of 0.0147, downside deviation of 0.445, and Mean Deviation of 0.2096 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0487, which signifies not very significant fluctuations relative to the market. As returns on the market increase, California Tax's returns are expected to increase less than the market. However, during the bear market, the loss of holding California Tax is expected to be smaller as well.
Auto-correlation | -0.12 |
Insignificant reverse predictability
California Tax Free Bond has insignificant reverse predictability. Overlapping area represents the amount of predictability between California Tax time series from 5th of August 2024 to 3rd of November 2024 and 3rd of November 2024 to 1st of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of California Tax Free price movement. The serial correlation of -0.12 indicates that less than 12.0% of current California Tax price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
California Tax Free lagged returns against current returns
Autocorrelation, which is California Tax 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 California Tax's mutual fund expected returns. We can calculate the autocorrelation of California Tax returns to help us make a trade decision. For example, suppose you find that California Tax 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 |
California Tax 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 California Tax mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if California Tax mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in California Tax mutual fund over time.
Current vs Lagged Prices |
| Timeline |
California Tax Lagged Returns
When evaluating California Tax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of California Tax mutual fund have on its future price. California Tax 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, California Tax autocorrelation shows the relationship between California Tax mutual fund current value and its past values and can show if there is a momentum factor associated with investing in California Tax Free Bond.
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 California Mutual Fund
California Tax financial ratios help investors to determine whether California 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 California with respect to the benefits of owning California Tax security.
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