Fidelity Municipal Income Fund Market Value
| FLUVX Fund | USD 12.27 0.02 0.16% |
| Symbol | Fidelity |
Fidelity 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 Fidelity 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 Fidelity Municipal.
| 02/03/2025 |
| 03/05/2025 |
If you would invest 0.00 in Fidelity Municipal on February 3, 2025 and sell it all today you would earn a total of 0.00 from holding Fidelity Municipal Income or generate 0.0% return on investment in Fidelity Municipal over 30 days. Fidelity Municipal is related to or competes with Goldman Sachs, Ab Bond, Ishares Us, Versatile Bond, and Rbc Impact. The fund normally invests at least 80 percent of assets in investment-grade municipal securities whose interest is exemp... More
Fidelity 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 Fidelity 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 Fidelity Municipal Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3557 | |||
| Information Ratio | 0.3616 | |||
| Maximum Drawdown | 1.31 | |||
| Value At Risk | (0.41) | |||
| Potential Upside | 0.4068 |
Fidelity Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Municipal's standard deviation. In reality, there are many statistical measures that can use Fidelity Municipal historical prices to predict the future Fidelity Municipal's volatility.| Risk Adjusted Performance | 0.0182 | |||
| Jensen Alpha | 0.0015 | |||
| Total Risk Alpha | 0.0315 | |||
| Sortino Ratio | 0.2555 | |||
| Treynor Ratio | (0.19) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity 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.
Fidelity Municipal Income Backtested Returns
Fidelity Municipal Income secures Sharpe Ratio (or Efficiency) of -0.0368, which denotes the fund had a -0.0368 % return per unit of risk over the last 3 months. Fidelity Municipal Income exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity Municipal's Coefficient Of Variation of 1980.22, downside deviation of 0.3557, and Mean Deviation of 0.1803 to check the risk estimate we provide. The fund shows a Beta (market volatility) of -0.014, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fidelity Municipal are expected to decrease at a much lower rate. During the bear market, Fidelity Municipal is likely to outperform the market.
Auto-correlation | -0.49 |
Modest reverse predictability
Fidelity Municipal Income has modest reverse predictability. Overlapping area represents the amount of predictability between Fidelity Municipal time series from 3rd of February 2025 to 18th of February 2025 and 18th of February 2025 to 5th of March 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 Fidelity Municipal Income price movement. The serial correlation of -0.49 indicates that about 49.0% of current Fidelity Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.49 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fidelity Municipal Income lagged returns against current returns
Autocorrelation, which is Fidelity 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 Fidelity Municipal's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Municipal returns to help us make a trade decision. For example, suppose you find that Fidelity 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 |
Fidelity 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 Fidelity Municipal mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity 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 Fidelity Municipal mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Municipal Lagged Returns
When evaluating Fidelity Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Municipal mutual fund have on its future price. Fidelity 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, Fidelity Municipal autocorrelation shows the relationship between Fidelity Municipal mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Municipal Income.
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 Municipal 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 Municipal security.
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