New Jersey Tax Free Fund Market Value
| TRJIX Fund | USD 11.49 0.01 0.09% |
| Symbol | New |
New Jersey '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 New Jersey'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 New Jersey.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in New Jersey on August 29, 2024 and sell it all today you would earn a total of 0.00 from holding New Jersey Tax Free or generate 0.0% return on investment in New Jersey over 90 days. New Jersey is related to or competes with Kinetics Global, Massmutual Premier, Morgan Stanley, T Rowe, Ab Global, Us Global, and Wasatch Global. The fund will invest so that, under normal market conditions, at least 80 percent of its net assets are invested in bond... More
New Jersey 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 New Jersey'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 New Jersey Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3405 | |||
| Information Ratio | (0.50) | |||
| Maximum Drawdown | 1.41 | |||
| Value At Risk | (0.35) | |||
| Potential Upside | 0.3527 |
New Jersey Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Jersey's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Jersey's standard deviation. In reality, there are many statistical measures that can use New Jersey historical prices to predict the future New Jersey's volatility.| Risk Adjusted Performance | 0.0274 | |||
| Jensen Alpha | 0.0031 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.34) | |||
| Treynor Ratio | 0.2958 |
New Jersey Tax Backtested Returns
At this stage we consider New Mutual Fund to be very steady. New Jersey Tax has Sharpe Ratio of 0.0659, which conveys that the entity had a 0.0659% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for New Jersey, which you can use to evaluate the volatility of the fund. Please verify New Jersey's Mean Deviation of 0.1461, downside deviation of 0.3405, and Risk Adjusted Performance of 0.0274 to check out if the risk estimate we provide is consistent with the expected return of 0.0153%. The fund secures a Beta (Market Risk) of 0.0179, which conveys not very significant fluctuations relative to the market. As returns on the market increase, New Jersey's returns are expected to increase less than the market. However, during the bear market, the loss of holding New Jersey is expected to be smaller as well.
Auto-correlation | -0.26 |
Weak reverse predictability
New Jersey Tax Free has weak reverse predictability. Overlapping area represents the amount of predictability between New Jersey time series from 29th of August 2024 to 13th of October 2024 and 13th of October 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 New Jersey Tax price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current New Jersey price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | 0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
New Jersey Tax lagged returns against current returns
Autocorrelation, which is New Jersey 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 New Jersey's mutual fund expected returns. We can calculate the autocorrelation of New Jersey returns to help us make a trade decision. For example, suppose you find that New Jersey 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 |
New Jersey 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 New Jersey mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Jersey mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Jersey mutual fund over time.
Current vs Lagged Prices |
| Timeline |
New Jersey Lagged Returns
When evaluating New Jersey's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Jersey mutual fund have on its future price. New Jersey 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, New Jersey autocorrelation shows the relationship between New Jersey mutual fund current value and its past values and can show if there is a momentum factor associated with investing in New Jersey Tax Free.
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 New Mutual Fund
New Jersey financial ratios help investors to determine whether New 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 New with respect to the benefits of owning New Jersey security.
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