Capital Group California Fund Market Value
| CCSTX Fund | USD 9.98 0.02 0.20% |
| Symbol | Capital |
Capital Group '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 Capital Group'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 Capital Group.
| 11/28/2024 |
| 12/28/2024 |
If you would invest 0.00 in Capital Group on November 28, 2024 and sell it all today you would earn a total of 0.00 from holding Capital Group California or generate 0.0% return on investment in Capital Group over 30 days. Capital Group is related to or competes with Capital Group, Emerging Markets, Emerging Markets, Emerging Markets, Capital Group, and . The fund primarily invests in municipal bonds issued by the state of California, its agencies and municipalities More
Capital Group 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 Capital Group'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 Capital Group California upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.34) | |||
| Maximum Drawdown | 0.7015 | |||
| Value At Risk | (0.20) | |||
| Potential Upside | 0.1005 |
Capital Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Capital Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Capital Group's standard deviation. In reality, there are many statistical measures that can use Capital Group historical prices to predict the future Capital Group's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.02) | |||
| Treynor Ratio | 0.941 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Capital Group'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.
Capital Group California Backtested Returns
Capital Group California secures Sharpe Ratio (or Efficiency) of -0.065, which signifies that the fund had a -0.065% return per unit of risk over the last 3 months. Capital Group California exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Capital Group's Risk Adjusted Performance of (0.11), standard deviation of 0.1182, and Mean Deviation of 0.0697 to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of -0.0186, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Capital Group are expected to decrease at a much lower rate. During the bear market, Capital Group is likely to outperform the market.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
Capital Group California has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Capital Group time series from 28th of November 2024 to 13th of December 2024 and 13th of December 2024 to 28th 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 Capital Group California price movement. The serial correlation of -0.78 indicates that around 78.0% of current Capital Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Capital Group California lagged returns against current returns
Autocorrelation, which is Capital Group 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 Capital Group's mutual fund expected returns. We can calculate the autocorrelation of Capital Group returns to help us make a trade decision. For example, suppose you find that Capital Group 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 |
Capital Group 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 Capital Group mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Capital Group mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Capital Group mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Capital Group Lagged Returns
When evaluating Capital Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Capital Group mutual fund have on its future price. Capital Group 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, Capital Group autocorrelation shows the relationship between Capital Group mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Capital Group California.
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 Capital Mutual Fund
Capital Group financial ratios help investors to determine whether Capital 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 Capital with respect to the benefits of owning Capital Group security.
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