Putnam Tax Exempt Fund Market Value
| PTEYX Fund | USD 7.77 0.08 1.02% |
| Symbol | Putnam |
Putnam Tax '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 Putnam Tax'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 Putnam Tax.
| 06/23/2024 |
| 12/20/2024 |
If you would invest 0.00 in Putnam Tax on June 23, 2024 and sell it all today you would earn a total of 0.00 from holding Putnam Tax Exempt or generate 0.0% return on investment in Putnam Tax over 180 days. Putnam Tax is related to or competes with Vanguard Small, Ab Small, American Century, Lsv Small, William Blair, Valic Company, and Heartland Value. The fund invests mainly in bonds that pay interest that is exempt from federal income tax , which are investment-grade i... More
Putnam Tax 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 Putnam Tax'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 Putnam Tax Exempt upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 1.79 | |||
| Value At Risk | (0.50) | |||
| Potential Upside | 0.5051 |
Putnam Tax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Putnam Tax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Putnam Tax's standard deviation. In reality, there are many statistical measures that can use Putnam Tax historical prices to predict the future Putnam Tax's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | (0.28) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Putnam Tax'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.
Putnam Tax Exempt Backtested Returns
Putnam Tax Exempt maintains Sharpe Ratio (i.e., Efficiency) of -0.0877, which implies the entity had a -0.0877% return per unit of risk over the last 3 months. Putnam Tax Exempt exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Putnam Tax's Risk Adjusted Performance of (0.05), coefficient of variation of (2,068), and Variance of 0.0949 to confirm the risk estimate we provide. The fund holds a Beta of 0.0886, which implies not very significant fluctuations relative to the market. As returns on the market increase, Putnam Tax's returns are expected to increase less than the market. However, during the bear market, the loss of holding Putnam Tax is expected to be smaller as well.
Auto-correlation | -0.05 |
Very weak reverse predictability
Putnam Tax Exempt has very weak reverse predictability. Overlapping area represents the amount of predictability between Putnam Tax time series from 23rd of June 2024 to 21st of September 2024 and 21st of September 2024 to 20th 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 Putnam Tax Exempt price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Putnam Tax price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Putnam Tax Exempt lagged returns against current returns
Autocorrelation, which is Putnam Tax 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 Putnam Tax's mutual fund expected returns. We can calculate the autocorrelation of Putnam Tax returns to help us make a trade decision. For example, suppose you find that Putnam Tax 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 |
Putnam Tax 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 Putnam Tax mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Putnam Tax mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Putnam Tax mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Putnam Tax Lagged Returns
When evaluating Putnam Tax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Putnam Tax mutual fund have on its future price. Putnam Tax 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, Putnam Tax autocorrelation shows the relationship between Putnam Tax mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Putnam Tax Exempt.
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 Putnam Mutual Fund
Putnam Tax financial ratios help investors to determine whether Putnam 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 Putnam with respect to the benefits of owning Putnam Tax security.
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