Franklin Pennsylvania Tax Free Fund Market Value
| FRPTX Fund | USD 9.06 0.04 0.44% |
| Symbol | Franklin |
Franklin Pennsylvania '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 Franklin Pennsylvania'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 Franklin Pennsylvania.
| 06/17/2024 |
| 12/14/2024 |
If you would invest 0.00 in Franklin Pennsylvania on June 17, 2024 and sell it all today you would earn a total of 0.00 from holding Franklin Pennsylvania Tax Free or generate 0.0% return on investment in Franklin Pennsylvania over 180 days. Franklin Pennsylvania is related to or competes with Sentinel Small, Jhancock Diversified, Lord Abbett, Pimco Diversified, Wasatch Small, and T Rowe. The fund invests at least 80 percent of its net assets in securities whose interest is free from federal income taxes, i... More
Franklin Pennsylvania 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 Franklin Pennsylvania'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 Franklin Pennsylvania Tax Free upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4083 | |||
| Information Ratio | (0.37) | |||
| Maximum Drawdown | 1.56 | |||
| Value At Risk | (0.44) | |||
| Potential Upside | 0.3348 |
Franklin Pennsylvania Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Franklin Pennsylvania's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Franklin Pennsylvania's standard deviation. In reality, there are many statistical measures that can use Franklin Pennsylvania historical prices to predict the future Franklin Pennsylvania's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.24) | |||
| Treynor Ratio | (0.14) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Franklin Pennsylvania'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.
Franklin Pennsylvania Backtested Returns
Franklin Pennsylvania secures Sharpe Ratio (or Efficiency) of -0.0049, which denotes the fund had a -0.0049% return per unit of standard deviation over the last 3 months. Franklin Pennsylvania Tax Free exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Franklin Pennsylvania's Mean Deviation of 0.168, downside deviation of 0.4083, and Semi Deviation of 0.2732 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0681, which means not very significant fluctuations relative to the market. As returns on the market increase, Franklin Pennsylvania's returns are expected to increase less than the market. However, during the bear market, the loss of holding Franklin Pennsylvania is expected to be smaller as well.
Auto-correlation | -0.07 |
Very weak reverse predictability
Franklin Pennsylvania Tax Free has very weak reverse predictability. Overlapping area represents the amount of predictability between Franklin Pennsylvania time series from 17th of June 2024 to 15th of September 2024 and 15th of September 2024 to 14th 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 Franklin Pennsylvania price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Franklin Pennsylvania price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Franklin Pennsylvania lagged returns against current returns
Autocorrelation, which is Franklin Pennsylvania 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 Franklin Pennsylvania's mutual fund expected returns. We can calculate the autocorrelation of Franklin Pennsylvania returns to help us make a trade decision. For example, suppose you find that Franklin Pennsylvania 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 |
Franklin Pennsylvania 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 Franklin Pennsylvania mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Franklin Pennsylvania mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Franklin Pennsylvania mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Franklin Pennsylvania Lagged Returns
When evaluating Franklin Pennsylvania's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Franklin Pennsylvania mutual fund have on its future price. Franklin Pennsylvania 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, Franklin Pennsylvania autocorrelation shows the relationship between Franklin Pennsylvania mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Franklin Pennsylvania Tax Free.
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 Franklin Mutual Fund
Franklin Pennsylvania financial ratios help investors to determine whether Franklin 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 Franklin with respect to the benefits of owning Franklin Pennsylvania security.
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| Fundamental Analysis View fundamental data based on most recent published financial statements |