Hartford Municipal Opportunities Etf Market Value
| HMOP Etf | USD 39.24 0.07 0.18% |
| Symbol | Hartford |
The market value of Hartford Municipal is measured differently than its book value, which is the value of Hartford that is recorded on the company's balance sheet. Investors also form their own opinion of Hartford Municipal's value that differs from its market value or its book value, called intrinsic value, which is Hartford Municipal's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Hartford Municipal's market value can be influenced by many factors that don't directly affect Hartford Municipal's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Hartford Municipal's value and its price as these two are different measures arrived at by different means. Investors typically determine if Hartford Municipal is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Hartford Municipal'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.
Hartford 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 Hartford Municipal's etf 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 Hartford Municipal.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Hartford Municipal on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Hartford Municipal Opportunities or generate 0.0% return on investment in Hartford Municipal over 30 days. Hartford Municipal is related to or competes with IShares JP, IShares IBoxx, SPDR Nuveen, and IShares MBS. The fund invests in investment grade and non-investment grade municipal securities that the sub-adviser considers to be ... More
Hartford 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 Hartford Municipal's etf 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 Hartford Municipal Opportunities upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2885 | |||
| Information Ratio | (0.49) | |||
| Maximum Drawdown | 1.34 | |||
| Value At Risk | (0.41) | |||
| Potential Upside | 0.3342 |
Hartford Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hartford Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hartford Municipal's standard deviation. In reality, there are many statistical measures that can use Hartford Municipal historical prices to predict the future Hartford Municipal's volatility.| Risk Adjusted Performance | 0.0345 | |||
| Jensen Alpha | 0.0177 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.42) | |||
| Treynor Ratio | (0.10) |
Hartford Municipal Backtested Returns
Currently, Hartford Municipal Opportunities is very steady. Hartford Municipal holds Efficiency (Sharpe) Ratio of 0.0676, which attests that the entity had a 0.0676% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hartford Municipal, which you can use to evaluate the volatility of the entity. Please check out Hartford Municipal's Market Risk Adjusted Performance of (0.09), risk adjusted performance of 0.0345, and Downside Deviation of 0.2885 to validate if the risk estimate we provide is consistent with the expected return of 0.0166%. The etf retains a Market Volatility (i.e., Beta) of -0.0776, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hartford Municipal are expected to decrease at a much lower rate. During the bear market, Hartford Municipal is likely to outperform the market.
Auto-correlation | 0.36 |
Below average predictability
Hartford Municipal Opportunities has below average predictability. Overlapping area represents the amount of predictability between Hartford Municipal time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 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 Hartford Municipal price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Hartford Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Hartford Municipal lagged returns against current returns
Autocorrelation, which is Hartford Municipal etf'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 Hartford Municipal's etf expected returns. We can calculate the autocorrelation of Hartford Municipal returns to help us make a trade decision. For example, suppose you find that Hartford Municipal has exhibited high autocorrelation historically, and you observe that the etf 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 |
Hartford 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 Hartford Municipal etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hartford Municipal etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hartford Municipal etf over time.
Current vs Lagged Prices |
| Timeline |
Hartford Municipal Lagged Returns
When evaluating Hartford Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hartford Municipal etf have on its future price. Hartford 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, Hartford Municipal autocorrelation shows the relationship between Hartford Municipal etf current value and its past values and can show if there is a momentum factor associated with investing in Hartford Municipal Opportunities.
Regressed Prices |
| Timeline |
Pair Trading with Hartford Municipal
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Hartford Municipal position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Hartford Municipal will appreciate offsetting losses from the drop in the long position's value.Moving together with Hartford Etf
| 0.96 | MUB | iShares National Muni | PairCorr |
| 0.97 | VTEB | Vanguard Tax Exempt | PairCorr |
| 0.97 | FMB | First Trust Managed | PairCorr |
| 0.94 | ITM | VanEck Intermediate Muni | PairCorr |
| 0.97 | MMIT | IQ MacKay Municipal | PairCorr |
Moving against Hartford Etf
The ability to find closely correlated positions to Hartford Municipal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hartford Municipal when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hartford Municipal - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hartford Municipal Opportunities to buy it.
The correlation of Hartford Municipal is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hartford Municipal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hartford Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Hartford Municipal can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Hartford Municipal Correlation, Hartford Municipal Volatility and Hartford Municipal Alpha and Beta module to complement your research on Hartford Municipal. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Hartford Municipal technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.