Fidelity Massachusetts Municipal Fund Market Value
| FDMMX Fund | USD 11.25 0.02 0.18% |
| Symbol | Fidelity |
Fidelity Massachusetts '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 Fidelity Massachusetts' 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 Fidelity Massachusetts.
| 06/16/2022 |
| 06/05/2024 |
If you would invest 0.00 in Fidelity Massachusetts on June 16, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity Massachusetts Municipal or generate 0.0% return on investment in Fidelity Massachusetts over 720 days. Fidelity Massachusetts is related to or competes with Fidelity Pennsylvania, Fidelity Connecticut, Fidelity Ohio, Fidelity Arizona, and Fidelity Michigan. The fund invests at least 80 percent of assets in investment-grade municipal securities whose interest is exempt from fe... More
Fidelity Massachusetts 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 Fidelity Massachusetts' 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 Fidelity Massachusetts Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 0.7114 | |||
| Value At Risk | (0.27) | |||
| Potential Upside | 0.1781 |
Fidelity Massachusetts Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Massachusetts' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Massachusetts' standard deviation. In reality, there are many statistical measures that can use Fidelity Massachusetts historical prices to predict the future Fidelity Massachusetts' volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | (1.60) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity Massachusetts' 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.
Fidelity Massachusetts Backtested Returns
Fidelity Massachusetts secures Sharpe Ratio (or Efficiency) of -0.12, which denotes the fund had a -0.12% return per unit of risk over the last 3 months. Fidelity Massachusetts Municipal exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity Massachusetts' Standard Deviation of 0.1572, variance of 0.0247, and Mean Deviation of 0.1192 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0179, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity Massachusetts' returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Massachusetts is expected to be smaller as well.
Auto-correlation | 0.78 |
Good predictability
Fidelity Massachusetts Municipal has good predictability. Overlapping area represents the amount of predictability between Fidelity Massachusetts time series from 16th of June 2022 to 11th of June 2023 and 11th of June 2023 to 5th of June 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 Fidelity Massachusetts price movement. The serial correlation of 0.78 indicates that around 78.0% of current Fidelity Massachusetts price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Fidelity Massachusetts lagged returns against current returns
Autocorrelation, which is Fidelity Massachusetts 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 Fidelity Massachusetts' mutual fund expected returns. We can calculate the autocorrelation of Fidelity Massachusetts returns to help us make a trade decision. For example, suppose you find that Fidelity Massachusetts 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 |
Fidelity Massachusetts 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 Fidelity Massachusetts mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Massachusetts mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Massachusetts mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Massachusetts Lagged Returns
When evaluating Fidelity Massachusetts' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Massachusetts mutual fund have on its future price. Fidelity Massachusetts 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, Fidelity Massachusetts autocorrelation shows the relationship between Fidelity Massachusetts mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Massachusetts Municipal.
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 Fidelity Mutual Fund
Fidelity Massachusetts financial ratios help investors to determine whether Fidelity 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 Fidelity with respect to the benefits of owning Fidelity Massachusetts security.
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