Nuveen California Municipal Fund Market Value
| NCA Fund | USD 8.64 0.03 0.35% |
| Symbol | Nuveen |
Nuveen California '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 Nuveen California's 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 Nuveen California.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Nuveen California on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Nuveen California Municipal or generate 0.0% return on investment in Nuveen California over 30 days. Nuveen California is related to or competes with Platinum Asia, Invesco California, Nuveen Pennsylvania, Blackrock Muniholdings, Blackrock Munivest, and Blackrock Muniyield. Nuveen California Municipal Value Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc More
Nuveen California 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 Nuveen California's 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 Nuveen California Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 3.18 | |||
| Value At Risk | (0.90) | |||
| Potential Upside | 0.8083 |
Nuveen California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nuveen California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nuveen California's standard deviation. In reality, there are many statistical measures that can use Nuveen California historical prices to predict the future Nuveen California's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.11) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nuveen California'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.
Nuveen California Backtested Returns
Nuveen California has Sharpe Ratio of -0.0266, which conveys that the entity had a -0.0266% return per unit of risk over the last 3 months. Nuveen California exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nuveen California's Mean Deviation of 0.4416, standard deviation of 0.5677, and Risk Adjusted Performance of (0.03) to check out the risk estimate we provide. The fund secures a Beta (Market Risk) of 0.31, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Nuveen California's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nuveen California is expected to be smaller as well.
Auto-correlation | -0.76 |
Almost perfect reverse predictability
Nuveen California Municipal has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Nuveen California time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 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 Nuveen California price movement. The serial correlation of -0.76 indicates that around 76.0% of current Nuveen California price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.76 | |
| Spearman Rank Test | -0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Nuveen California lagged returns against current returns
Autocorrelation, which is Nuveen California 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 Nuveen California's fund expected returns. We can calculate the autocorrelation of Nuveen California returns to help us make a trade decision. For example, suppose you find that Nuveen California has exhibited high autocorrelation historically, and you observe that the 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 |
Nuveen California 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 Nuveen California fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nuveen California fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nuveen California fund over time.
Current vs Lagged Prices |
| Timeline |
Nuveen California Lagged Returns
When evaluating Nuveen California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nuveen California fund have on its future price. Nuveen California 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, Nuveen California autocorrelation shows the relationship between Nuveen California fund current value and its past values and can show if there is a momentum factor associated with investing in Nuveen California Municipal.
Regressed Prices |
| Timeline |
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Nuveen California technical fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.