New York Tax Free Fund Market Value
| PRNYX Fund | USD 11.00 0.03 0.27% |
| Symbol | New |
New York '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 New York'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 New York.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in New York on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding New York Tax Free or generate 0.0% return on investment in New York over 30 days. New York is related to or competes with New Jersey, T Rowe, Virginia Tax-free, and T Rowe. The fund invests so that, under normal market conditions, at least 80 percent of its net assets are invested in bonds that pay interest exempt from federal, New York state, and New York City income taxes, and at least 80 percent of the funds income is expected to be exempt from federal, New York state, and New York City income taxes. More
New York 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 New York'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 New York Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4615 | |||
| Information Ratio | (0.37) | |||
| Maximum Drawdown | 1.76 | |||
| Value At Risk | (0.45) | |||
| Potential Upside | 0.4647 |
New York Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New York's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New York's standard deviation. In reality, there are many statistical measures that can use New York historical prices to predict the future New York's volatility.| Risk Adjusted Performance | 0.0533 | |||
| Jensen Alpha | 0.0311 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.24) | |||
| Treynor Ratio | (0.15) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of New York'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.
New York Tax Backtested Returns
At this stage we consider New Mutual Fund to be very steady. New York Tax has Sharpe Ratio of 0.0733, which conveys that the entity had a 0.0733% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for New York, which you can use to evaluate the volatility of the fund. Please verify New York's Downside Deviation of 0.4615, mean deviation of 0.1857, and Risk Adjusted Performance of 0.0533 to check out if the risk estimate we provide is consistent with the expected return of 0.0219%. The fund secures a Beta (Market Risk) of -0.11, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning New York are expected to decrease at a much lower rate. During the bear market, New York is likely to outperform the market.
Auto-correlation | 0.55 |
Modest predictability
New York Tax Free has modest predictability. Overlapping area represents the amount of predictability between New York time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 New York Tax price movement. The serial correlation of 0.55 indicates that about 55.0% of current New York price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
New York Tax lagged returns against current returns
Autocorrelation, which is New York 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 New York's mutual fund expected returns. We can calculate the autocorrelation of New York returns to help us make a trade decision. For example, suppose you find that New York 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 |
New York 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 New York mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New York mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New York mutual fund over time.
Current vs Lagged Prices |
| Timeline |
New York Lagged Returns
When evaluating New York's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New York mutual fund have on its future price. New York 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, New York autocorrelation shows the relationship between New York mutual fund current value and its past values and can show if there is a momentum factor associated with investing in New York 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 New Mutual Fund
New York financial ratios help investors to determine whether New 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 New with respect to the benefits of owning New York security.
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