Alabama Tax Free Bond Etf Market Value
| ALABX Etf | USD 12.22 0.02 0.16% |
| Symbol | ALABAMA |
The market value of ALABAMA TAX FREE is measured differently than its book value, which is the value of ALABAMA that is recorded on the company's balance sheet. Investors also form their own opinion of ALABAMA TAX's value that differs from its market value or its book value, called intrinsic value, which is ALABAMA TAX's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ALABAMA TAX's market value can be influenced by many factors that don't directly affect ALABAMA TAX's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ALABAMA TAX's value and its price as these two are different measures arrived at by different means. Investors typically determine if ALABAMA TAX is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ALABAMA TAX's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
ALABAMA TAX '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 ALABAMA TAX's etf 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 ALABAMA TAX.
| 01/06/2024 |
| 12/31/2024 |
If you would invest 0.00 in ALABAMA TAX on January 6, 2024 and sell it all today you would earn a total of 0.00 from holding ALABAMA TAX FREE BOND or generate 0.0% return on investment in ALABAMA TAX over 360 days. ALABAMA TAX is related to or competes with FT Vest, Zillow Group, Northern Lights, VanEck Vectors, Freedom Day, and SSGA Active. The investment seeks long-term capital growth, consistent with preservation of capital and balanced by current income More
ALABAMA TAX 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 ALABAMA TAX's etf 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 ALABAMA TAX FREE BOND upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 9.99 | |||
| Value At Risk | (0.75) | |||
| Potential Upside | 0.6002 |
ALABAMA TAX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ALABAMA TAX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ALABAMA TAX's standard deviation. In reality, there are many statistical measures that can use ALABAMA TAX historical prices to predict the future ALABAMA TAX's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | (0.77) |
ALABAMA TAX FREE Backtested Returns
ALABAMA TAX FREE retains Efficiency (Sharpe Ratio) of -0.11, which signifies that the etf had a -0.11% return per unit of risk over the last 3 months. ALABAMA TAX exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ALABAMA TAX's variance of 1.39, and Market Risk Adjusted Performance of (0.76) to double-check the risk estimate we provide. The etf owns a Beta (Systematic Risk) of 0.18, which signifies not very significant fluctuations relative to the market. As returns on the market increase, ALABAMA TAX's returns are expected to increase less than the market. However, during the bear market, the loss of holding ALABAMA TAX is expected to be smaller as well.
Auto-correlation | 0.19 |
Very weak predictability
ALABAMA TAX FREE BOND has very weak predictability. Overlapping area represents the amount of predictability between ALABAMA TAX time series from 6th of January 2024 to 4th of July 2024 and 4th of July 2024 to 31st 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 ALABAMA TAX FREE price movement. The serial correlation of 0.19 indicates that over 19.0% of current ALABAMA TAX price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
ALABAMA TAX FREE lagged returns against current returns
Autocorrelation, which is ALABAMA TAX etf'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 ALABAMA TAX's etf expected returns. We can calculate the autocorrelation of ALABAMA TAX returns to help us make a trade decision. For example, suppose you find that ALABAMA TAX has exhibited high autocorrelation historically, and you observe that the etf 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 |
ALABAMA TAX 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 ALABAMA TAX etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ALABAMA TAX etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ALABAMA TAX etf over time.
Current vs Lagged Prices |
| Timeline |
ALABAMA TAX Lagged Returns
When evaluating ALABAMA TAX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ALABAMA TAX etf have on its future price. ALABAMA TAX 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, ALABAMA TAX autocorrelation shows the relationship between ALABAMA TAX etf current value and its past values and can show if there is a momentum factor associated with investing in ALABAMA TAX FREE BOND.
Regressed Prices |
| Timeline |
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Other Information on Investing in ALABAMA Etf
ALABAMA TAX financial ratios help investors to determine whether ALABAMA Etf 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 ALABAMA with respect to the benefits of owning ALABAMA TAX security.