Nuveen Minnesota Municipal Fund Market Value
| FYMNX Fund | USD 10.67 0.03 0.28% |
| Symbol | Nuveen |
Nuveen Minnesota '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 Minnesota'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 Nuveen Minnesota.
| 04/29/2022 |
| 04/18/2024 |
If you would invest 0.00 in Nuveen Minnesota on April 29, 2022 and sell it all today you would earn a total of 0.00 from holding Nuveen Minnesota Municipal or generate 0.0% return on investment in Nuveen Minnesota over 720 days. Nuveen Minnesota is related to or competes with Franklin Minnesota, and Franklin Minnesota. Under normal market conditions, the fund invests at least 80 percent of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal and Minnesota personal income tax. More
Nuveen Minnesota 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 Minnesota'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 Nuveen Minnesota Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.33) | |||
| Maximum Drawdown | 1.12 | |||
| Value At Risk | (0.28) | |||
| Potential Upside | 0.2788 |
Nuveen Minnesota Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nuveen Minnesota's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nuveen Minnesota's standard deviation. In reality, there are many statistical measures that can use Nuveen Minnesota historical prices to predict the future Nuveen Minnesota's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | 1.37 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nuveen Minnesota'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 Minnesota Mun Backtested Returns
We consider Nuveen Minnesota very steady. Nuveen Minnesota Mun has Sharpe Ratio of 0.034, which conveys that the entity had a 0.034% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Nuveen Minnesota, which you can use to evaluate the volatility of the fund. Please verify Nuveen Minnesota's Standard Deviation of 0.1926, mean deviation of 0.1353, and Risk Adjusted Performance of (0.05) to check out if the risk estimate we provide is consistent with the expected return of 0.0062%. The fund secures a Beta (Market Risk) of -0.0134, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nuveen Minnesota are expected to decrease at a much lower rate. During the bear market, Nuveen Minnesota is likely to outperform the market.
Auto-correlation | 0.80 |
Very good predictability
Nuveen Minnesota Municipal has very good predictability. Overlapping area represents the amount of predictability between Nuveen Minnesota time series from 29th of April 2022 to 24th of April 2023 and 24th of April 2023 to 18th 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 Minnesota Mun price movement. The serial correlation of 0.8 indicates that around 80.0% of current Nuveen Minnesota price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Nuveen Minnesota Mun lagged returns against current returns
Autocorrelation, which is Nuveen Minnesota 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 Nuveen Minnesota's mutual fund expected returns. We can calculate the autocorrelation of Nuveen Minnesota returns to help us make a trade decision. For example, suppose you find that Nuveen Minnesota 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 |
Nuveen Minnesota 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 Minnesota mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nuveen Minnesota mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nuveen Minnesota mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Nuveen Minnesota Lagged Returns
When evaluating Nuveen Minnesota's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nuveen Minnesota mutual fund have on its future price. Nuveen Minnesota 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 Minnesota autocorrelation shows the relationship between Nuveen Minnesota mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Nuveen Minnesota Municipal.
Regressed Prices |
| Timeline |
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Nuveen Minnesota technical mutual 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.