Schwab California Tax Free Fund Market Value
| SWCAX Fund | USD 11.20 0.02 0.18% |
| Symbol | Schwab |
Schwab 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 Schwab 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 Schwab California.
| 01/07/2024 |
| 12/02/2024 |
If you would invest 0.00 in Schwab California on January 7, 2024 and sell it all today you would earn a total of 0.00 from holding Schwab California Tax Free or generate 0.0% return on investment in Schwab California over 330 days. Schwab California is related to or competes with Gmo High, Virtus High, Pace High, American Century, Artisan High, Fidelity Capital, and Prudential High. To pursue its goal, the fund primarily invests in investment-grade municipal securities - those in the four highest cred... More
Schwab 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 Schwab 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 Schwab California Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3144 | |||
| Information Ratio | (0.62) | |||
| Maximum Drawdown | 1.08 | |||
| Value At Risk | (0.27) | |||
| Potential Upside | 0.2715 |
Schwab California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Schwab California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Schwab California's standard deviation. In reality, there are many statistical measures that can use Schwab California historical prices to predict the future Schwab California's volatility.| Risk Adjusted Performance | 0.0413 | |||
| Jensen Alpha | 0.0176 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.38) | |||
| Treynor Ratio | (0.10) |
Schwab California Tax Backtested Returns
At this stage we consider Schwab Mutual Fund to be out of control. Schwab California Tax owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0665, which indicates the fund had a 0.0665% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Schwab California Tax Free, which you can use to evaluate the volatility of the fund. Please validate Schwab California's Risk Adjusted Performance of 0.0413, semi deviation of 0.131, and Coefficient Of Variation of 1076.07 to confirm if the risk estimate we provide is consistent with the expected return of 0.0128%. The entity has a beta of -0.0763, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Schwab California are expected to decrease at a much lower rate. During the bear market, Schwab California is likely to outperform the market.
Auto-correlation | 0.02 |
Virtually no predictability
Schwab California Tax Free has virtually no predictability. Overlapping area represents the amount of predictability between Schwab California time series from 7th of January 2024 to 20th of June 2024 and 20th of June 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 Schwab California Tax price movement. The serial correlation of 0.02 indicates that only 2.0% of current Schwab California price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Schwab California Tax lagged returns against current returns
Autocorrelation, which is Schwab 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 Schwab California's mutual fund expected returns. We can calculate the autocorrelation of Schwab California returns to help us make a trade decision. For example, suppose you find that Schwab 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 |
Schwab 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 Schwab California mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Schwab 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 Schwab California mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Schwab California Lagged Returns
When evaluating Schwab California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Schwab California mutual fund have on its future price. Schwab 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, Schwab California autocorrelation shows the relationship between Schwab California mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Schwab 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 Schwab Mutual Fund
Schwab California financial ratios help investors to determine whether Schwab 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 Schwab with respect to the benefits of owning Schwab California security.
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