California Municipal Portfolio Fund Market Value
| AICYX Fund | USD 13.83 0.01 0.07% |
| Symbol | California |
California Municipal '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 Municipal'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 Municipal.
| 12/02/2024 |
| 01/01/2025 |
If you would invest 0.00 in California Municipal on December 2, 2024 and sell it all today you would earn a total of 0.00 from holding California Municipal Portfolio or generate 0.0% return on investment in California Municipal over 30 days. California Municipal is related to or competes with Ab Global, Ab Global, Ab Global, Ab Minnesota, Ab Minnesota, Ab All, and Ab All. The fund invests at least 80 percent of its net assets in a portfolio of municipal securities issued by the State of Cal... More
California Municipal 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 Municipal'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 Municipal Portfolio upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 0.9385 | |||
| Value At Risk | (0.29) | |||
| Potential Upside | 0.2151 |
California Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for California Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as California Municipal's standard deviation. In reality, there are many statistical measures that can use California Municipal historical prices to predict the future California Municipal's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | (1.88) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of California Municipal'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 Municipal Backtested Returns
California Municipal secures Sharpe Ratio (or Efficiency) of -0.13, which signifies that the fund had a -0.13% return per unit of risk over the last 3 months. California Municipal Portfolio exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm California Municipal's Standard Deviation of 0.1764, risk adjusted performance of (0.12), and Mean Deviation of 0.1261 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0157, which signifies not very significant fluctuations relative to the market. As returns on the market increase, California Municipal's returns are expected to increase less than the market. However, during the bear market, the loss of holding California Municipal is expected to be smaller as well.
Auto-correlation | -0.21 |
Weak reverse predictability
California Municipal Portfolio has weak reverse predictability. Overlapping area represents the amount of predictability between California Municipal time series from 2nd of December 2024 to 17th of December 2024 and 17th of December 2024 to 1st of January 2025. 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 Municipal price movement. The serial correlation of -0.21 indicates that over 21.0% of current California Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | -0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
California Municipal lagged returns against current returns
Autocorrelation, which is California Municipal 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 Municipal's mutual fund expected returns. We can calculate the autocorrelation of California Municipal returns to help us make a trade decision. For example, suppose you find that California Municipal 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 Municipal 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 Municipal mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if California Municipal 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 Municipal mutual fund over time.
Current vs Lagged Prices |
| Timeline |
California Municipal Lagged Returns
When evaluating California Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of California Municipal mutual fund have on its future price. California Municipal 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 Municipal autocorrelation shows the relationship between California Municipal mutual fund current value and its past values and can show if there is a momentum factor associated with investing in California Municipal Portfolio.
Regressed Prices |
| Timeline |
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Other Information on Investing in California Mutual Fund
California Municipal 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 Municipal security.
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