Tax Exempt Bond Fund Market Value
| TEBCX Fund | USD 12.25 0.03 0.24% |
| Symbol | Tax |
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 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 Tax Exempt.
| 03/23/2024 |
| 04/22/2024 |
If you would invest 0.00 in Tax Exempt on March 23, 2024 and sell it all today you would earn a total of 0.00 from holding Tax Exempt Bond or generate 0.0% return on investment in Tax Exempt over 30 days. Tax Exempt is related to or competes with Income Fund, New World, American Mutual, American Mutual, American Funds, American Funds, and Income Fund. The fund will invest at least 80 percent of its assets in, or derive at least 80 percent of its income from, securities ... More
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 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 Tax Exempt Bond upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.53) | |||
| Maximum Drawdown | 1.05 | |||
| Value At Risk | (0.32) | |||
| Potential Upside | 0.2445 |
Tax Exempt Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tax Exempt's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tax Exempt's standard deviation. In reality, there are many statistical measures that can use Tax Exempt historical prices to predict the future Tax Exempt's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | (0.29) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of 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.
Tax Exempt Bond Backtested Returns
Tax Exempt Bond owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0064, which indicates the fund had a -0.0064% return per unit of risk over the last 3 months. Tax Exempt Bond exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tax Exempt's Coefficient Of Variation of (1,860), variance of 0.0326, and Risk Adjusted Performance of (0.06) to confirm the risk estimate we provide. The entity has a beta of 0.069, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Tax Exempt's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tax Exempt is expected to be smaller as well.
Auto-correlation | 0.63 |
Good predictability
Tax Exempt Bond has good predictability. Overlapping area represents the amount of predictability between Tax Exempt time series from 23rd of March 2024 to 7th of April 2024 and 7th of April 2024 to 22nd 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 Tax Exempt Bond price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current Tax Exempt price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Tax Exempt Bond lagged returns against current returns
Autocorrelation, which is 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 Tax Exempt's mutual fund expected returns. We can calculate the autocorrelation of Tax Exempt returns to help us make a trade decision. For example, suppose you find that 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 |
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 Tax Exempt mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 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 Tax Exempt mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Tax Exempt Lagged Returns
When evaluating Tax Exempt's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tax Exempt mutual fund have on its future price. 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, Tax Exempt autocorrelation shows the relationship between Tax Exempt mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Tax Exempt Bond.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Check out Tax Exempt Correlation, Tax Exempt Volatility and Tax Exempt Alpha and Beta module to complement your research on Tax Exempt. Note that the Tax Exempt Bond information on this page should be used as a complementary analysis to other 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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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.