California Intermediate Term Tax Free Fund Market Value
| BCITX Fund | USD 11.30 0.01 0.09% |
| Symbol | California |
California Intermediate '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 California Intermediate'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 California Intermediate.
| 12/23/2022 |
| 12/12/2024 |
If you would invest 0.00 in California Intermediate on December 23, 2022 and sell it all today you would earn a total of 0.00 from holding California Intermediate Term Tax Free or generate 0.0% return on investment in California Intermediate over 720 days. California Intermediate is related to or competes with California High, Schwab California, Vanguard California, Intermediate Term, and Ginnie Mae. The portfolio managers primarily buy investment-grade debt securities and, under normal market conditions, will invest a... More
California Intermediate 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 California Intermediate'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 California Intermediate Term Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2683 | |||
| Information Ratio | (0.67) | |||
| Maximum Drawdown | 0.9836 | |||
| Value At Risk | (0.27) | |||
| Potential Upside | 0.2691 |
California Intermediate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for California Intermediate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as California Intermediate's standard deviation. In reality, there are many statistical measures that can use California Intermediate historical prices to predict the future California Intermediate's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | 0.0015 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.45) | |||
| Treynor Ratio | 0.0915 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of California Intermediate'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.
California Intermediate Backtested Returns
At this stage we consider California Mutual Fund to be very steady. California Intermediate secures Sharpe Ratio (or Efficiency) of 0.0237, which signifies that the fund had a 0.0237% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for California Intermediate Term Tax Free, which you can use to evaluate the volatility of the entity. Please confirm California Intermediate's Downside Deviation of 0.2683, mean deviation of 0.1083, and Risk Adjusted Performance of (0.01) to double-check if the risk estimate we provide is consistent with the expected return of 0.0044%. The fund shows a Beta (market volatility) of -0.0635, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning California Intermediate are expected to decrease at a much lower rate. During the bear market, California Intermediate is likely to outperform the market.
Auto-correlation | -0.33 |
Poor reverse predictability
California Intermediate Term Tax Free has poor reverse predictability. Overlapping area represents the amount of predictability between California Intermediate time series from 23rd of December 2022 to 18th of December 2023 and 18th of December 2023 to 12th of December 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 California Intermediate price movement. The serial correlation of -0.33 indicates that nearly 33.0% of current California Intermediate price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.33 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
California Intermediate lagged returns against current returns
Autocorrelation, which is California Intermediate 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 California Intermediate's mutual fund expected returns. We can calculate the autocorrelation of California Intermediate returns to help us make a trade decision. For example, suppose you find that California Intermediate 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 |
California Intermediate 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 California Intermediate mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if California Intermediate mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in California Intermediate mutual fund over time.
Current vs Lagged Prices |
| Timeline |
California Intermediate Lagged Returns
When evaluating California Intermediate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of California Intermediate mutual fund have on its future price. California Intermediate 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, California Intermediate autocorrelation shows the relationship between California Intermediate mutual fund current value and its past values and can show if there is a momentum factor associated with investing in California Intermediate Term Tax Free.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in California Mutual Fund
California Intermediate financial ratios help investors to determine whether California Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in California with respect to the benefits of owning California Intermediate security.
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