AAZAX Mutual Fund Volatility

AAZAX -  USA Fund  

USD 11.45  0.00  0.00%

Our approach towards foreseeing the volatility of a fund is to use all available market data together with fund-specific technical indicators that cannot be diversified away. We have found twenty technical indicators for Ab Municipal, which you can use to evaluate the future volatility of the entity. Please confirm Ab Municipal Income Standard Deviation of 0.0572, variance of 0.0033, and Market Risk Adjusted Performance of (1.62) to double-check if the risk estimate we provide is consistent with the expected return of 0.0%.

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Ab Municipal Mutual Fund volatility depicts how high the prices fluctuate around the mean (or its average) price. In other words, it is a statistical measure of the distribution of AAZAX daily returns, and it is calculated using variance and standard deviation. We also use AAZAX's beta, its sensitivity to the market, as well as its odds of financial distress to provide a more practical estimation of Ab Municipal volatility.

720 Days Market Risk

Very steady

Chance of Distress

Very Small

720 Days Economic Sensitivity

Barely shadows the market

Ab Municipal Market Sensitivity And Downside Risk

Ab Municipal's beta coefficient measures the volatility of AAZAX mutual fund compared to the systematic risk of the entire stock market represented by your selected benchmark. In mathematical terms, beta represents the slope of the line through a regression of data points where each of these points represents AAZAX mutual fund's returns against your selected market. In other words, Ab Municipal's beta of 0.0045 provides an investor with an approximation of how much risk Ab Municipal mutual fund can potentially add to one of your existing portfolios.
Let's try to break down what AAZAX's beta means in this case. As returns on the market increase, Ab Municipal returns are expected to increase less than the market. However, during the bear market, the loss on holding Ab Municipal will be expected to be smaller as well.
3 Months Beta |Analyze Ab Municipal Income Demand Trend
Check current 90 days Ab Municipal correlation with market (DOW)

AAZAX Beta

    
  0.0045  
AAZAX standard deviation measures the daily dispersion of prices over your selected time horizon relative to its mean. Typical volatile equity has a high standard deviation, while the deviation of a stable instrument is usually low. As a downside, the standard deviation calculates all uncertainty as risk, even when it is in your favor, such as above-average returns.

Standard Deviation

    
  0.0  
It is essential to understand the difference between upside risk (as represented by Ab Municipal's standard deviation) and the downside risk, which can be measured by semi-deviation or downside deviation of Ab Municipal stock's daily returns or price. Since the actual investment returns on holding a position in Ab Municipal stock tend to have a non-normal distribution, there will be different probabilities for losses than for gains. The likelihood of losses is reflected in the downside risk of an investment in Ab Municipal.

Ab Municipal Income Mutual Fund Volatility Analysis

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Ab Municipal Projected Return Density Against Market

Assuming the 90 days horizon Ab Municipal has a beta of 0.0045 . This suggests as returns on the market go up, Ab Municipal average returns are expected to increase less than the benchmark. However, during the bear market, the loss on holding Ab Municipal Income will be expected to be much smaller as well.
Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Ab Municipal or AllianceBernstein sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Ab Municipal stock's price will be affected by overall stock market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a AAZAX stock's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
The company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Ab Municipal Income is significantly underperforming DOW.
 Predicted Return Density 
      Returns 

Ab Municipal Mutual Fund Risk Measures

Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Ab Municipal or AllianceBernstein sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Ab Municipal stock's price will be affected by overall stock market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a AAZAX stock's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
Assuming the 90 days horizon the coefficient of variation of Ab Municipal is 0.0. The daily returns are distributed with a variance of 0.0 and standard deviation of 0.0. The mean deviation of Ab Municipal Income is currently at 0.0. For similar time horizon, the selected benchmark (DOW) has volatility of 0.69
α
Alpha over DOW
-0.0074
β
Beta against DOW0.0045
σ
Overall volatility
0.00
Ir
Information ratio -0.42

Ab Municipal Mutual Fund Return Volatility

Ab Municipal historical daily return volatility represents how much Ab Municipal stock's price daily returns swing around its mean daily price change - it is a statistical measure of its dispersion of returns. The fund shows 0.0% volatility of returns over 90 . By contrast, DOW inherits 0.669% risk (volatility on return distribution) over the 90 days horizon.
 Performance (%) 
      Timeline 

About Ab Municipal Volatility

Volatility is a rate at which the price of Ab Municipal or any other equity instrument increases or decreases for a given set of returns. It is measured by calculating the standard deviation of the annualized returns over a given period of time and shows the range to which the price of Ab Municipal may increase or decrease. In other words, similar to AAZAX's beta indicator, it measures the risk of Ab Municipal and helps estimate the fluctuations that may happen in a short period of time. So if prices of Ab Municipal fluctuate rapidly in a short time span, it is termed to have high volatility, and if it swings slowly in a more extended period, it is understood to have low volatility.
Please read more on our technical analysis page.
The investment seeks to earn the highest level of current income exempt from both federal income tax and State of Arizona personal income tax that is available without assuming what the Adviser considers to be undue risk. Ab Municipal is traded on NASDAQ Exchange in the United States.

Ab Municipal Investment Opportunity

DOW has a standard deviation of returns of 0.67 and is 9.223372036854776E16 times more volatile than Ab Municipal Income. of all equities and portfolios are less risky than Ab Municipal. Compared to the overall equity markets, volatility of historical daily returns of Ab Municipal Income is lower than 0 () of all global equities and portfolios over the last 90 days. Use Ab Municipal Income to protect your portfolios against small market fluctuations. The mutual fund experiences a normal downward trend, but the immediate impact on correlations cannot be determined at the moment . Check odds of Ab Municipal to be traded at $11.34 in 90 days. . Let's try to break down what AAZAX's beta means in this case. As returns on the market increase, Ab Municipal returns are expected to increase less than the market. However, during the bear market, the loss on holding Ab Municipal will be expected to be smaller as well.

Significant diversification

The correlation between Ab Municipal Income and DJI is Significant diversification for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Municipal Income and DJI in the same portfolio assuming nothing else is changed.

Ab Municipal Additional Risk Indicators

The analysis of Ab Municipal's secondary risk indicators is one of the essential steps in making a buy or sell decision. The process involves identifying the amount of risk involved in Ab Municipal's investment and either accepting that risk or mitigating it. Along with some common measures of Ab Municipal stock risk such as standard deviation, beta, or value at risk, we also provide a set of secondary indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Risk Adjusted Performance(0.08)
Market Risk Adjusted Performance(1.62)
Mean Deviation0.0309
Downside Deviation0.1067
Coefficient Of Variation2145.46
Standard Deviation0.0572
Variance0.0033
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential stock investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.

Ab Municipal Suggested Diversification Pairs

Pair trading is one of the very effective strategies used by professional day traders and hedge funds capitalizing on short-time and mid-term market inefficiencies. The approach is based on the fact that the ratio of prices of two correlating shares is long-term stable and oscillates around the average value. If the correlation ratio comes outside the common area, you can speculate with a high success rate that the ratio will return to the mean value and collect a profit.
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The effect of pair diversification on risk is to reduce it, but we should note this doesn't apply to all risk types. When we trade pairs against Ab Municipal as a counterpart, there is always some inherent risk that will never be diversified away no matter what. This volatility limits the effect of tactical diversification using pair trading. Ab Municipal's systematic risk is the inherent uncertainty of the entire market, and therefore cannot be mitigated even by pair-trading it against the equity that is not highly correlated to it. On the other hand, Ab Municipal's unsystematic risk describes the types of risk that we can protect against, at least to some degree, by selecting a matching pair that is not perfectly correlated to Ab Municipal Income.
Please continue to Trending Equities. Note that the Ab Municipal Income information on this page should be used as a complementary analysis to other Ab Municipal'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 Global Correlations module to find global opportunities by holding instruments from different markets.

Complementary Tools for AAZAX Mutual Fund analysis

When running Ab Municipal Income price analysis, check to measure Ab Municipal's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Ab Municipal is operating at the current time. Most of Ab Municipal's value examination focuses on studying past and present price action to predict the probability of Ab Municipal's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Ab Municipal's price. Additionally, you may evaluate how the addition of Ab Municipal to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Ab Municipal's value and its price as these two are different measures arrived at by different means. Investors typically determine Ab Municipal value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ab Municipal's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.