Fidelity Ohio Municipal Fund Market Value
| FOHFX Fund | USD 11.46 0.01 0.09% |
| Symbol | Fidelity |
Fidelity Ohio '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 Ohio'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 Ohio.
| 01/28/2025 |
| 02/27/2025 |
If you would invest 0.00 in Fidelity Ohio on January 28, 2025 and sell it all today you would earn a total of 0.00 from holding Fidelity Ohio Municipal or generate 0.0% return on investment in Fidelity Ohio over 30 days. Fidelity Ohio is related to or competes with Fidelity Pennsylvania, Fidelity Michigan, Fidelity Arizona, Fidelity Connecticut, and Fidelity Maryland. The fund normally invests at least 80 percent of assets in investment-grade municipal securities whose interest is exemp... More
Fidelity Ohio 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 Ohio'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 Ohio Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 1.05 | |||
| Value At Risk | (0.44) | |||
| Potential Upside | 0.3537 |
Fidelity Ohio Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Ohio's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Ohio's standard deviation. In reality, there are many statistical measures that can use Fidelity Ohio historical prices to predict the future Fidelity Ohio's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.01) | |||
| Treynor Ratio | (0.85) |
Fidelity Ohio Municipal Backtested Returns
Fidelity Ohio Municipal secures Sharpe Ratio (or Efficiency) of -0.0118, which denotes the fund had a -0.0118 % return per unit of risk over the last 3 months. Fidelity Ohio Municipal exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity Ohio's Variance of 0.0525, mean deviation of 0.161, and Standard Deviation of 0.2292 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0168, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity Ohio's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Ohio is expected to be smaller as well.
Auto-correlation | 0.78 |
Good predictability
Fidelity Ohio Municipal has good predictability. Overlapping area represents the amount of predictability between Fidelity Ohio time series from 28th of January 2025 to 12th of February 2025 and 12th of February 2025 to 27th of February 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 Ohio Municipal price movement. The serial correlation of 0.78 indicates that around 78.0% of current Fidelity Ohio price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.89 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fidelity Ohio Municipal lagged returns against current returns
Autocorrelation, which is Fidelity Ohio 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 Ohio's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Ohio returns to help us make a trade decision. For example, suppose you find that Fidelity Ohio 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 Ohio 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 Ohio mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Ohio 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 Ohio mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Ohio Lagged Returns
When evaluating Fidelity Ohio's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Ohio mutual fund have on its future price. Fidelity Ohio 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 Ohio autocorrelation shows the relationship between Fidelity Ohio mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Ohio 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 Ohio 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 Ohio security.
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