Virtus Tax Exempt Bond Fund Market Value
| PXCZX Fund | USD 10.21 0.02 0.20% |
| Symbol | Virtus |
Virtus Tax-exempt '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 Virtus Tax-exempt'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 Virtus Tax-exempt.
| 04/23/2023 |
| 04/17/2024 |
If you would invest 0.00 in Virtus Tax-exempt on April 23, 2023 and sell it all today you would earn a total of 0.00 from holding Virtus Tax Exempt Bond or generate 0.0% return on investment in Virtus Tax-exempt over 360 days. Virtus Tax-exempt is related to or competes with Virtus Multi, Virtus Multi, Ridgeworth Seix, Ridgeworth Innovative, Ridgeworth Seix, Ridgeworth Seix, and Ridgeworth Seix. The fund seeks to generate current income exempt from federal income taxes by investing in a diversified portfolio with ... More
Virtus Tax-exempt 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 Virtus Tax-exempt'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 Virtus Tax Exempt Bond upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.49) | |||
| Maximum Drawdown | 0.8737 | |||
| Value At Risk | (0.29) | |||
| Potential Upside | 0.1947 |
Virtus Tax-exempt Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Virtus Tax-exempt's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Virtus Tax-exempt's standard deviation. In reality, there are many statistical measures that can use Virtus Tax-exempt historical prices to predict the future Virtus Tax-exempt's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | (0.37) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Virtus Tax-exempt'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.
Virtus Tax Exempt Backtested Returns
Virtus Tax Exempt owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0315, which indicates the fund had a -0.0315% return per unit of risk over the last 3 months. Virtus Tax Exempt Bond exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Virtus Tax-exempt's Variance of 0.0222, coefficient of variation of (1,016), and Risk Adjusted Performance of (0.09) to confirm the risk estimate we provide. The entity has a beta of 0.0658, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Virtus Tax-exempt's returns are expected to increase less than the market. However, during the bear market, the loss of holding Virtus Tax-exempt is expected to be smaller as well.
Auto-correlation | -0.37 |
Poor reverse predictability
Virtus Tax Exempt Bond has poor reverse predictability. Overlapping area represents the amount of predictability between Virtus Tax-exempt time series from 23rd of April 2023 to 20th of October 2023 and 20th of October 2023 to 17th 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 Virtus Tax Exempt price movement. The serial correlation of -0.37 indicates that just about 37.0% of current Virtus Tax-exempt price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.37 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Virtus Tax Exempt lagged returns against current returns
Autocorrelation, which is Virtus Tax-exempt 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 Virtus Tax-exempt's mutual fund expected returns. We can calculate the autocorrelation of Virtus Tax-exempt returns to help us make a trade decision. For example, suppose you find that Virtus Tax-exempt 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 |
Virtus Tax-exempt 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 Virtus Tax-exempt mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Virtus Tax-exempt mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Virtus Tax-exempt mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Virtus Tax-exempt Lagged Returns
When evaluating Virtus Tax-exempt's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Virtus Tax-exempt mutual fund have on its future price. Virtus Tax-exempt 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, Virtus Tax-exempt autocorrelation shows the relationship between Virtus Tax-exempt mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Virtus Tax Exempt Bond.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Virtus Tax-exempt in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Virtus Tax-exempt's short interest history, or implied volatility extrapolated from Virtus Tax-exempt options trading.
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Check out Virtus Tax-exempt Correlation, Virtus Tax-exempt Volatility and Virtus Tax-exempt Alpha and Beta module to complement your research on Virtus Tax-exempt. Note that the Virtus Tax Exempt information on this page should be used as a complementary analysis to other Virtus Tax-exempt'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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Virtus Tax-exempt 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.