Franklin California Tax Free Fund Market Value
| FRCTX Fund | USD 6.94 0.01 0.14% |
| Symbol | Franklin |
Franklin California '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 Franklin California'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 Franklin California.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in Franklin California on June 5, 2024 and sell it all today you would earn a total of 0.00 from holding Franklin California Tax Free or generate 0.0% return on investment in Franklin California over 180 days. Franklin California is related to or competes with Franklin California, Franklin California, Vanguard California, Vanguard California, Tax-exempt Fund, and Tax-exempt Fund. The fund invests at least 80 percent of its total assets in investment grade municipal securities whose interest is free... More
Franklin California 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 Franklin California'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 Franklin California Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4329 | |||
| Information Ratio | (0.45) | |||
| Maximum Drawdown | 1.61 | |||
| Value At Risk | (0.43) | |||
| Potential Upside | 0.4367 |
Franklin California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Franklin California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Franklin California's standard deviation. In reality, there are many statistical measures that can use Franklin California historical prices to predict the future Franklin California's volatility.| Risk Adjusted Performance | 0.0329 | |||
| Jensen Alpha | 0.0207 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.28) | |||
| Treynor Ratio | (0.08) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Franklin California'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.
Franklin California Tax Backtested Returns
At this stage we consider Franklin Mutual Fund to be very steady. Franklin California Tax secures Sharpe Ratio (or Efficiency) of 0.0438, which denotes the fund had a 0.0438% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for Franklin California Tax Free, which you can use to evaluate the volatility of the entity. Please confirm Franklin California's Mean Deviation of 0.1641, semi deviation of 0.21, and Downside Deviation of 0.4329 to check if the risk estimate we provide is consistent with the expected return of 0.0117%. The fund shows a Beta (market volatility) of -0.1, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Franklin California are expected to decrease at a much lower rate. During the bear market, Franklin California is likely to outperform the market.
Auto-correlation | -0.62 |
Very good reverse predictability
Franklin California Tax Free has very good reverse predictability. Overlapping area represents the amount of predictability between Franklin California time series from 5th of June 2024 to 3rd of September 2024 and 3rd of September 2024 to 2nd 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 Franklin California Tax price movement. The serial correlation of -0.62 indicates that roughly 62.0% of current Franklin California price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.62 | |
| Spearman Rank Test | -0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Franklin California Tax lagged returns against current returns
Autocorrelation, which is Franklin California 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 Franklin California's mutual fund expected returns. We can calculate the autocorrelation of Franklin California returns to help us make a trade decision. For example, suppose you find that Franklin California 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 |
Franklin California 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 Franklin California mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Franklin California mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Franklin California mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Franklin California Lagged Returns
When evaluating Franklin California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Franklin California mutual fund have on its future price. Franklin California 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, Franklin California autocorrelation shows the relationship between Franklin California mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Franklin California 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 Franklin Mutual Fund
Franklin California financial ratios help investors to determine whether Franklin 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 Franklin with respect to the benefits of owning Franklin California security.
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