Tax Free Conservative Income Fund Market Value
| TFCAX Fund | USD 10.00 0.00 0.00% |
| Symbol | Tax-free |
Tax-free Conservative '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-free Conservative'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-free Conservative.
| 08/02/2023 |
| 11/24/2024 |
If you would invest 0.00 in Tax-free Conservative on August 2, 2023 and sell it all today you would earn a total of 0.00 from holding Tax Free Conservative Income or generate 0.0% return on investment in Tax-free Conservative over 480 days. Tax-free Conservative is related to or competes with Victory High, Pioneer High, Artisan High, Ab Global, and Pace High. Under normal circumstances, the fund will invest at least 80 percent of its net assets in U.S More
Tax-free Conservative 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-free Conservative'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 Free Conservative Income upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (2.04) | |||
| Maximum Drawdown | 0.4023 |
Tax-free Conservative Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tax-free Conservative's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tax-free Conservative's standard deviation. In reality, there are many statistical measures that can use Tax-free Conservative historical prices to predict the future Tax-free Conservative's volatility.| Risk Adjusted Performance | 0.0186 | |||
| Jensen Alpha | 0.0021 | |||
| Total Risk Alpha | (0.01) | |||
| Treynor Ratio | (0.06) |
Tax Free Conservative Backtested Returns
At this stage we consider Tax-free Mutual Fund to be very steady. Tax Free Conservative owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.18, which indicates the fund had a 0.18% return per unit of risk over the last 3 months. We have found seventeen technical indicators for Tax Free Conservative Income, which you can use to evaluate the volatility of the fund. Please validate Tax-free Conservative's Coefficient Of Variation of 551.48, risk adjusted performance of 0.0186, and Variance of 0.0035 to confirm if the risk estimate we provide is consistent with the expected return of 0.0108%. The entity has a beta of -0.0118, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tax-free Conservative are expected to decrease at a much lower rate. During the bear market, Tax-free Conservative is likely to outperform the market.
Auto-correlation | 0.99 |
Perfect predictability
Tax Free Conservative Income has perfect predictability. Overlapping area represents the amount of predictability between Tax-free Conservative time series from 2nd of August 2023 to 29th of March 2024 and 29th of March 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 Tax Free Conservative price movement. The serial correlation of 0.99 indicates that 99.0% of current Tax-free Conservative price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.99 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Tax Free Conservative lagged returns against current returns
Autocorrelation, which is Tax-free Conservative 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-free Conservative's mutual fund expected returns. We can calculate the autocorrelation of Tax-free Conservative returns to help us make a trade decision. For example, suppose you find that Tax-free Conservative 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-free Conservative 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-free Conservative mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tax-free Conservative 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-free Conservative mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Tax-free Conservative Lagged Returns
When evaluating Tax-free Conservative's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tax-free Conservative mutual fund have on its future price. Tax-free Conservative 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-free Conservative autocorrelation shows the relationship between Tax-free Conservative mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Tax Free Conservative Income.
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 Tax-free Mutual Fund
Tax-free Conservative financial ratios help investors to determine whether Tax-free 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-free with respect to the benefits of owning Tax-free Conservative security.
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |