Putnam Massachusetts Tax Fund Market Value
| PXMAX Fund | USD 9.07 0.02 0.22% |
| Symbol | Putnam |
Putnam Massachusetts '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 Putnam Massachusetts' 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 Putnam Massachusetts.
| 10/31/2023 |
| 11/24/2024 |
If you would invest 0.00 in Putnam Massachusetts on October 31, 2023 and sell it all today you would earn a total of 0.00 from holding Putnam Massachusetts Tax or generate 0.0% return on investment in Putnam Massachusetts over 390 days. Putnam Massachusetts is related to or competes with Putnam Equity, Putnam Tax, Putnam Floating, Putnam High, Putnam Floating, Putnam Floating, and Putnam Floating. The fund invests mainly in bonds that pay interest that is exempt from federal income tax and Massachusetts personal inc... More
Putnam Massachusetts 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 Putnam Massachusetts' 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 Putnam Massachusetts Tax upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3887 | |||
| Information Ratio | (0.54) | |||
| Maximum Drawdown | 1.44 | |||
| Value At Risk | (0.33) | |||
| Potential Upside | 0.3275 |
Putnam Massachusetts Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Putnam Massachusetts' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Putnam Massachusetts' standard deviation. In reality, there are many statistical measures that can use Putnam Massachusetts historical prices to predict the future Putnam Massachusetts' volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.33) | |||
| Treynor Ratio | (0.15) |
Putnam Massachusetts Tax Backtested Returns
At this stage we consider Putnam Mutual Fund to be very steady. Putnam Massachusetts Tax maintains Sharpe Ratio (i.e., Efficiency) of 0.0082, which implies the entity had a 0.0082% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Putnam Massachusetts Tax, which you can use to evaluate the volatility of the fund. Please check Putnam Massachusetts' Semi Deviation of 0.2387, risk adjusted performance of (0.02), and Coefficient Of Variation of 12209.61 to confirm if the risk estimate we provide is consistent with the expected return of 0.002%. The fund holds a Beta of 0.0546, which implies not very significant fluctuations relative to the market. As returns on the market increase, Putnam Massachusetts' returns are expected to increase less than the market. However, during the bear market, the loss of holding Putnam Massachusetts is expected to be smaller as well.
Auto-correlation | 0.76 |
Good predictability
Putnam Massachusetts Tax has good predictability. Overlapping area represents the amount of predictability between Putnam Massachusetts time series from 31st of October 2023 to 13th of May 2024 and 13th of May 2024 to 24th 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 Putnam Massachusetts Tax price movement. The serial correlation of 0.76 indicates that around 76.0% of current Putnam Massachusetts price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Putnam Massachusetts Tax lagged returns against current returns
Autocorrelation, which is Putnam Massachusetts 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 Putnam Massachusetts' mutual fund expected returns. We can calculate the autocorrelation of Putnam Massachusetts returns to help us make a trade decision. For example, suppose you find that Putnam Massachusetts 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 |
Putnam Massachusetts 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 Putnam Massachusetts mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Putnam Massachusetts mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Putnam Massachusetts mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Putnam Massachusetts Lagged Returns
When evaluating Putnam Massachusetts' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Putnam Massachusetts mutual fund have on its future price. Putnam Massachusetts 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, Putnam Massachusetts autocorrelation shows the relationship between Putnam Massachusetts mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Putnam Massachusetts Tax.
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 Putnam Mutual Fund
Putnam Massachusetts financial ratios help investors to determine whether Putnam 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 Putnam with respect to the benefits of owning Putnam Massachusetts security.
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