California High Yield Municipal Fund Market Value
| CAYAX Fund | USD 9.74 0.02 0.21% |
| Symbol | California |
California High '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 High'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 High.
| 11/24/2024 |
| 12/24/2024 |
If you would invest 0.00 in California High on November 24, 2024 and sell it all today you would earn a total of 0.00 from holding California High Yield Municipal or generate 0.0% return on investment in California High over 30 days. California High is related to or competes with Mid Cap, Equity Growth, Income Growth, Diversified Bond, Emerging Markets, Short Term, and Value Fund. The fund invests at least 80 percent of its net assets in municipal securities with income payments exempt from federal ... More
California High 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 High'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 High Yield Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 1.73 | |||
| Value At Risk | (0.50) | |||
| Potential Upside | 0.3064 |
California High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for California High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as California High's standard deviation. In reality, there are many statistical measures that can use California High historical prices to predict the future California High's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | (0.70) |
California High Yield Backtested Returns
California High Yield secures Sharpe Ratio (or Efficiency) of -0.0861, which signifies that the fund had a -0.0861% return per unit of risk over the last 3 months. California High Yield Municipal exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm California High's Mean Deviation of 0.1975, risk adjusted performance of (0.08), and Standard Deviation of 0.3062 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0513, which signifies not very significant fluctuations relative to the market. As returns on the market increase, California High's returns are expected to increase less than the market. However, during the bear market, the loss of holding California High is expected to be smaller as well.
Auto-correlation | -0.85 |
Excellent reverse predictability
California High Yield Municipal has excellent reverse predictability. Overlapping area represents the amount of predictability between California High time series from 24th of November 2024 to 9th of December 2024 and 9th of December 2024 to 24th 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 High Yield price movement. The serial correlation of -0.85 indicates that around 85.0% of current California High price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.85 | |
| Spearman Rank Test | -0.92 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
California High Yield lagged returns against current returns
Autocorrelation, which is California High 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 High's mutual fund expected returns. We can calculate the autocorrelation of California High returns to help us make a trade decision. For example, suppose you find that California High 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 High 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 High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if California High 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 High mutual fund over time.
Current vs Lagged Prices |
| Timeline |
California High Lagged Returns
When evaluating California High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of California High mutual fund have on its future price. California High 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 High autocorrelation shows the relationship between California High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in California High Yield Municipal.
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 High 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 High security.
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