Schwab Tax Free Bond Fund Market Value
| SWNTX Fund | USD 11.05 0.02 0.18% |
| Symbol | Schwab |
Schwab Tax-free '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 Schwab Tax-free'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 Schwab Tax-free.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in Schwab Tax-free on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding Schwab Tax Free Bond or generate 0.0% return on investment in Schwab Tax-free over 720 days. Schwab Tax-free is related to or competes with California High-yield, Siit High, Morningstar Aggressive, Metropolitan West, T Rowe, and Goldman Sachs. To pursue its goal, the fund primarily invests in investment-grade municipal securities - those in the four highest cred... More
Schwab Tax-free 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 Schwab Tax-free'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 Schwab Tax Free Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3303 | |||
| Information Ratio | (0.58) | |||
| Maximum Drawdown | 1.28 | |||
| Value At Risk | (0.36) | |||
| Potential Upside | 0.275 |
Schwab Tax-free Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Schwab Tax-free's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Schwab Tax-free's standard deviation. In reality, there are many statistical measures that can use Schwab Tax-free historical prices to predict the future Schwab Tax-free's volatility.| Risk Adjusted Performance | 0.0095 | |||
| Jensen Alpha | 0.0087 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.36) | |||
| Treynor Ratio | 0.0019 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Schwab Tax-free'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.
Schwab Tax Free Backtested Returns
At this stage we consider Schwab Mutual Fund to be very steady. Schwab Tax Free owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0678, which indicates the fund had a 0.0678% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Schwab Tax Free Bond, which you can use to evaluate the volatility of the fund. Please validate Schwab Tax-free's Risk Adjusted Performance of 0.0095, coefficient of variation of 2124.85, and Semi Deviation of 0.1925 to confirm if the risk estimate we provide is consistent with the expected return of 0.0144%. The entity has a beta of -0.0731, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Schwab Tax-free are expected to decrease at a much lower rate. During the bear market, Schwab Tax-free is likely to outperform the market.
Auto-correlation | -0.38 |
Poor reverse predictability
Schwab Tax Free Bond has poor reverse predictability. Overlapping area represents the amount of predictability between Schwab Tax-free time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 to 27th 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 Schwab Tax Free price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Schwab Tax-free price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Schwab Tax Free lagged returns against current returns
Autocorrelation, which is Schwab Tax-free 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 Schwab Tax-free's mutual fund expected returns. We can calculate the autocorrelation of Schwab Tax-free returns to help us make a trade decision. For example, suppose you find that Schwab Tax-free 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 |
Schwab Tax-free 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 Schwab Tax-free mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Schwab Tax-free mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Schwab Tax-free mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Schwab Tax-free Lagged Returns
When evaluating Schwab Tax-free's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Schwab Tax-free mutual fund have on its future price. Schwab Tax-free 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, Schwab Tax-free autocorrelation shows the relationship between Schwab Tax-free mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Schwab 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 Schwab Mutual Fund
Schwab Tax-free financial ratios help investors to determine whether Schwab 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 Schwab with respect to the benefits of owning Schwab Tax-free security.
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