Fidelity California Municipal Fund Market Value

FCTFX Fund  USD 12.41  0.02  0.16%   
Fidelity California's market value is the price at which a share of Fidelity California trades on a public exchange. It measures the collective expectations of Fidelity California Municipal investors about its performance. Fidelity California is trading at 12.41 as of the 5th of December 2024; that is 0.16 percent increase since the beginning of the trading day. The fund's open price was 12.39.
With this module, you can estimate the performance of a buy and hold strategy of Fidelity California Municipal and determine expected loss or profit from investing in Fidelity California over a given investment horizon. Check out Fidelity California Correlation, Fidelity California Volatility and Fidelity California Alpha and Beta module to complement your research on Fidelity California.
Symbol

Please note, there is a significant difference between Fidelity California's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity California is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity California'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.

Fidelity 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 Fidelity 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 Fidelity California.
0.00
12/16/2022
No Change 0.00  0.0 
In 1 year 11 months and 22 days
12/05/2024
0.00
If you would invest  0.00  in Fidelity California on December 16, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity California Municipal or generate 0.0% return on investment in Fidelity California over 720 days. Fidelity California is related to or competes with Fidelity California, Fidelity Municipal, Fidelity Tax-free, Fidelity Limited, and Fidelity Intermediate. The fund normally invests at least 80 percent of assets in investment-grade municipal securities whose interest is exemp... More

Fidelity 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 Fidelity 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 Fidelity California Municipal upside and downside potential and time the market with a certain degree of confidence.

Fidelity California Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity California's standard deviation. In reality, there are many statistical measures that can use Fidelity California historical prices to predict the future Fidelity California's volatility.
Hype
Prediction
LowEstimatedHigh
12.1412.4112.68
Details
Intrinsic
Valuation
LowRealHigh
12.1012.3712.64
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Fidelity California. Your research has to be compared to or analyzed against Fidelity California's peers to derive any actionable benefits. When done correctly, Fidelity California's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Fidelity California.

Fidelity California Backtested Returns

At this stage we consider Fidelity Mutual Fund to be very steady. Fidelity California secures Sharpe Ratio (or Efficiency) of 0.0639, which denotes the fund had a 0.0639% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Fidelity California Municipal, which you can use to evaluate the volatility of the entity. Please confirm Fidelity California's Mean Deviation of 0.1674, downside deviation of 0.4226, and Coefficient Of Variation of 962.25 to check if the risk estimate we provide is consistent with the expected return of 0.0171%. The fund shows a Beta (market volatility) of 0.0606, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity California's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity California is expected to be smaller as well.

Auto-correlation

    
  -0.4  

Poor reverse predictability

Fidelity California Municipal has poor reverse predictability. Overlapping area represents the amount of predictability between Fidelity California time series from 16th of December 2022 to 11th of December 2023 and 11th of December 2023 to 5th 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 Fidelity California price movement. The serial correlation of -0.4 indicates that just about 40.0% of current Fidelity California price fluctuation can be explain by its past prices.
Correlation Coefficient-0.4
Spearman Rank Test-0.16
Residual Average0.0
Price Variance0.03

Fidelity California lagged returns against current returns

Autocorrelation, which is Fidelity 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 Fidelity California's mutual fund expected returns. We can calculate the autocorrelation of Fidelity California returns to help us make a trade decision. For example, suppose you find that Fidelity 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  

Fidelity 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 Fidelity California mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity 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 Fidelity California mutual fund over time.
   Current vs Lagged Prices   
       Timeline  

Fidelity California Lagged Returns

When evaluating Fidelity California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity California mutual fund have on its future price. Fidelity 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, Fidelity California autocorrelation shows the relationship between Fidelity California mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity California Municipal.
   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 Fidelity Mutual Fund

Fidelity California financial ratios help investors to determine whether Fidelity 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 Fidelity with respect to the benefits of owning Fidelity California security.
Money Managers
Screen money managers from public funds and ETFs managed around the world
Analyst Advice
Analyst recommendations and target price estimates broken down by several categories
Idea Analyzer
Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas
Price Transformation
Use Price Transformation models to analyze the depth of different equity instruments across global markets