Putnam Tax Exempt Fund Market Value
| PTECX Fund | USD 7.75 0.02 0.26% |
| Symbol | Putnam |
Putnam Tax '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 Putnam Tax'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 Putnam Tax.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Putnam Tax on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Putnam Tax Exempt or generate 0.0% return on investment in Putnam Tax over 30 days. Putnam Tax is related to or competes with Putnam Equity, Putnam Floating, Putnam High, Putnam Floating, Putnam Floating, Putnam Floating, and Putnam Floating. The fund invests mainly in bonds that pay interest that is exempt from federal income tax , which are investment-grade i... More
Putnam Tax 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 Putnam Tax'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 Putnam Tax Exempt upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.37) | |||
| Maximum Drawdown | 1.41 | |||
| Value At Risk | (0.39) | |||
| Potential Upside | 0.2581 |
Putnam Tax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Putnam Tax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Putnam Tax's standard deviation. In reality, there are many statistical measures that can use Putnam Tax historical prices to predict the future Putnam Tax's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.05) | |||
| Treynor Ratio | 1.12 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Putnam Tax'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.
Putnam Tax Exempt Backtested Returns
We consider Putnam Tax out of control. Putnam Tax Exempt maintains Sharpe Ratio (i.e., Efficiency) of 0.0011, which implies the entity had a 0.0011% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Putnam Tax Exempt, which you can use to evaluate the volatility of the fund. Please check Putnam Tax's Coefficient Of Variation of (1,347), risk adjusted performance of (0.06), and Variance of 0.0539 to confirm if the risk estimate we provide is consistent with the expected return of 3.0E-4%. The fund holds a Beta of -0.0243, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Putnam Tax are expected to decrease at a much lower rate. During the bear market, Putnam Tax is likely to outperform the market.
Auto-correlation | 0.63 |
Good predictability
Putnam Tax Exempt has good predictability. Overlapping area represents the amount of predictability between Putnam Tax 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 Putnam Tax Exempt price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current Putnam Tax price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Putnam Tax Exempt lagged returns against current returns
Autocorrelation, which is Putnam Tax 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 Putnam Tax's mutual fund expected returns. We can calculate the autocorrelation of Putnam Tax returns to help us make a trade decision. For example, suppose you find that Putnam Tax 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 |
Putnam Tax 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 Putnam Tax mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Putnam Tax mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Putnam Tax mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Putnam Tax Lagged Returns
When evaluating Putnam Tax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Putnam Tax mutual fund have on its future price. Putnam Tax 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, Putnam Tax autocorrelation shows the relationship between Putnam Tax mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Putnam Tax Exempt.
Regressed Prices |
| Timeline |
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Check out Putnam Tax Correlation, Putnam Tax Volatility and Putnam Tax Alpha and Beta module to complement your research on Putnam Tax. Note that the Putnam Tax Exempt information on this page should be used as a complementary analysis to other Putnam Tax's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Putnam Tax 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.