Tax Exempt Bond Fund Market Value
| PTBCX Fund | USD 6.79 0.02 0.30% |
| Symbol | Tax-exempt |
Tax-exempt Bond '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 Tax-exempt Bond'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 Tax-exempt Bond.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Tax-exempt Bond on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Tax Exempt Bond Fund or generate 0.0% return on investment in Tax-exempt Bond over 30 days. Tax-exempt Bond is related to or competes with Strategic Asset, Strategic Asset, Strategic Asset, Strategic Asset, Strategic Asset, International Equity, and Strategic Asset. The fund invests at least 80 percent of its net assets, plus any borrowings for investment purposes, in tax-exempt bonds... More
Tax-exempt Bond 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 Tax-exempt Bond'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 Tax Exempt Bond Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3778 | |||
| Information Ratio | (0.60) | |||
| Maximum Drawdown | 1.19 | |||
| Value At Risk | (0.29) | |||
| Potential Upside | 0.2976 |
Tax-exempt Bond Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tax-exempt Bond's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tax-exempt Bond's standard deviation. In reality, there are many statistical measures that can use Tax-exempt Bond historical prices to predict the future Tax-exempt Bond's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | 0.0024 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.34) | |||
| Treynor Ratio | 0.0914 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Tax-exempt Bond'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.
Tax Exempt Bond Backtested Returns
At this stage we consider Tax-exempt Mutual Fund to be very steady. Tax Exempt Bond owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0328, which indicates the fund had a 0.0328% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Tax Exempt Bond Fund, which you can use to evaluate the volatility of the fund. Please validate Tax-exempt Bond's Semi Deviation of 0.1945, risk adjusted performance of (0.02), and Coefficient Of Variation of 8705.79 to confirm if the risk estimate we provide is consistent with the expected return of 0.0073%. The entity has a beta of -0.0824, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tax-exempt Bond are expected to decrease at a much lower rate. During the bear market, Tax-exempt Bond is likely to outperform the market.
Auto-correlation | 0.29 |
Poor predictability
Tax Exempt Bond Fund has poor predictability. Overlapping area represents the amount of predictability between Tax-exempt Bond 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 Tax Exempt Bond price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Tax-exempt Bond price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Tax Exempt Bond lagged returns against current returns
Autocorrelation, which is Tax-exempt Bond 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 Tax-exempt Bond's mutual fund expected returns. We can calculate the autocorrelation of Tax-exempt Bond returns to help us make a trade decision. For example, suppose you find that Tax-exempt Bond 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 |
Tax-exempt Bond 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 Tax-exempt Bond mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tax-exempt Bond mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tax-exempt Bond mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Tax-exempt Bond Lagged Returns
When evaluating Tax-exempt Bond's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tax-exempt Bond mutual fund have on its future price. Tax-exempt Bond 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, Tax-exempt Bond autocorrelation shows the relationship between Tax-exempt Bond mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Tax Exempt Bond Fund.
Regressed Prices |
| Timeline |
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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 Tax-exempt Mutual Fund
Tax-exempt Bond financial ratios help investors to determine whether Tax-exempt 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 Tax-exempt with respect to the benefits of owning Tax-exempt Bond security.
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