Thornburg New Mexico Fund Market Value
| THNDX Fund | USD 12.46 0.02 0.16% |
| Symbol | THORNBURG |
Thornburg New '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 Thornburg New'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 Thornburg New.
| 05/31/2024 |
| 11/27/2024 |
If you would invest 0.00 in Thornburg New on May 31, 2024 and sell it all today you would earn a total of 0.00 from holding Thornburg New Mexico or generate 0.0% return on investment in Thornburg New over 180 days. Thornburg New is related to or competes with Ambrus Core, Blrc Sgy, Rbc Ultra-short, Bbh Intermediate, Ms Global, and Rational/pier. The fund pursues its primary goal by investing principally in a laddered maturity portfolio of municipal obligations iss... More
Thornburg New 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 Thornburg New'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 Thornburg New Mexico upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.298 | |||
| Information Ratio | (0.90) | |||
| Maximum Drawdown | 0.8081 | |||
| Value At Risk | (0.16) | |||
| Potential Upside | 0.1623 |
Thornburg New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Thornburg New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Thornburg New's standard deviation. In reality, there are many statistical measures that can use Thornburg New historical prices to predict the future Thornburg New's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.000099) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.42) | |||
| Treynor Ratio | 0.1228 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Thornburg New'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.
Thornburg New Mexico Backtested Returns
At this stage we consider THORNBURG Mutual Fund to be very steady. Thornburg New Mexico owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0361, which indicates the fund had a 0.0361% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Thornburg New Mexico, which you can use to evaluate the volatility of the fund. Please validate Thornburg New's Coefficient Of Variation of 2813.52, risk adjusted performance of (0.02), and Semi Deviation of 0.1092 to confirm if the risk estimate we provide is consistent with the expected return of 0.0051%. The entity has a beta of -0.0409, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Thornburg New are expected to decrease at a much lower rate. During the bear market, Thornburg New is likely to outperform the market.
Auto-correlation | -0.63 |
Very good reverse predictability
Thornburg New Mexico has very good reverse predictability. Overlapping area represents the amount of predictability between Thornburg New time series from 31st of May 2024 to 29th of August 2024 and 29th of August 2024 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 Thornburg New Mexico price movement. The serial correlation of -0.63 indicates that roughly 63.0% of current Thornburg New price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.63 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Thornburg New Mexico lagged returns against current returns
Autocorrelation, which is Thornburg New 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 Thornburg New's mutual fund expected returns. We can calculate the autocorrelation of Thornburg New returns to help us make a trade decision. For example, suppose you find that Thornburg New 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 |
Thornburg New 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 Thornburg New mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Thornburg New mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Thornburg New mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Thornburg New Lagged Returns
When evaluating Thornburg New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Thornburg New mutual fund have on its future price. Thornburg New 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, Thornburg New autocorrelation shows the relationship between Thornburg New mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Thornburg New Mexico.
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 THORNBURG Mutual Fund
Thornburg New financial ratios help investors to determine whether THORNBURG 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 THORNBURG with respect to the benefits of owning Thornburg New security.
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