California Tax Free Income Fund Market Value
| CFNTX Fund | USD 10.75 0.02 0.19% |
| Symbol | California |
California Tax-free '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 Tax-free'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 Tax-free.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in California Tax-free on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding California Tax Free Income or generate 0.0% return on investment in California Tax-free over 540 days. California Tax-free is related to or competes with Vanguard California, Vanguard California, Vanguard Limited-term, Vanguard California, and Vanguard Short-term. Under normal market conditions, it is the funds fundamental policy to invest at least 80 percent of its total assets in ... More
California Tax-free 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 Tax-free'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 Tax Free Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3554 | |||
| Information Ratio | (0.64) | |||
| Maximum Drawdown | 1.12 | |||
| Value At Risk | (0.28) | |||
| Potential Upside | 0.2817 |
California Tax-free Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for California Tax-free's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as California Tax-free's standard deviation. In reality, there are many statistical measures that can use California Tax-free historical prices to predict the future California Tax-free's volatility.| Risk Adjusted Performance | 0.0043 | |||
| Jensen Alpha | 0.0068 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.33) | |||
| Treynor Ratio | 0.0192 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of California Tax-free'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 Tax Free Backtested Returns
At this stage we consider California Mutual Fund to be very steady. California Tax Free secures Sharpe Ratio (or Efficiency) of 0.0404, which signifies that the fund had a 0.0404% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for California Tax Free Income, which you can use to evaluate the volatility of the entity. Please confirm California Tax-free's Mean Deviation of 0.1046, risk adjusted performance of 0.0043, and Downside Deviation of 0.3554 to double-check if the risk estimate we provide is consistent with the expected return of 0.0076%. The fund shows a Beta (market volatility) of -0.0704, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning California Tax-free are expected to decrease at a much lower rate. During the bear market, California Tax-free is likely to outperform the market.
Auto-correlation | 0.57 |
Modest predictability
California Tax Free Income has modest predictability. Overlapping area represents the amount of predictability between California Tax-free time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th of November 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 Tax Free price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current California Tax-free price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
California Tax Free lagged returns against current returns
Autocorrelation, which is California Tax-free 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 Tax-free's mutual fund expected returns. We can calculate the autocorrelation of California Tax-free returns to help us make a trade decision. For example, suppose you find that California Tax-free 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 Tax-free 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 Tax-free mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if California Tax-free 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 Tax-free mutual fund over time.
Current vs Lagged Prices |
| Timeline |
California Tax-free Lagged Returns
When evaluating California Tax-free's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of California Tax-free mutual fund have on its future price. California Tax-free 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 Tax-free autocorrelation shows the relationship between California Tax-free mutual fund current value and its past values and can show if there is a momentum factor associated with investing in California Tax Free Income.
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 Tax-free 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 Tax-free security.
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