Fidelity Maryland Municipal Fund Market Value
| SMDMX Fund | USD 10.69 0.01 0.09% |
| Symbol | Fidelity |
Fidelity Maryland '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 Maryland'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 Maryland.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Fidelity Maryland on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Maryland Municipal or generate 0.0% return on investment in Fidelity Maryland over 90 days. Fidelity Maryland is related to or competes with Fidelity Pennsylvania, Fidelity Arizona, Fidelity Connecticut, Fidelity Ohio, and Fidelity Minnesota. The fund normally invests at least 80 percent of assets in investment-grade municipal securities whose interest is exemp... More
Fidelity Maryland 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 Maryland'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 Maryland Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.3044 | |||
| Maximum Drawdown | 1.03 | |||
| Value At Risk | (0.46) | |||
| Potential Upside | 0.3721 |
Fidelity Maryland Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Maryland's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Maryland's standard deviation. In reality, there are many statistical measures that can use Fidelity Maryland historical prices to predict the future Fidelity Maryland's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0) | |||
| Treynor Ratio | (0.90) |
Fidelity Maryland Backtested Returns
Fidelity Maryland secures Sharpe Ratio (or Efficiency) of -0.0308, which denotes the fund had a -0.0308 % return per unit of risk over the last 3 months. Fidelity Maryland Municipal exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity Maryland's Standard Deviation of 0.2432, variance of 0.0591, and Mean Deviation of 0.1815 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.0388, which means not very significant fluctuations relative to the market. As returns on the market increase, Fidelity Maryland's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Maryland is expected to be smaller as well.
Auto-correlation | -0.6 |
Good reverse predictability
Fidelity Maryland Municipal has good reverse predictability. Overlapping area represents the amount of predictability between Fidelity Maryland time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th 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 Maryland price movement. The serial correlation of -0.6 indicates that roughly 60.0% of current Fidelity Maryland price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.6 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fidelity Maryland lagged returns against current returns
Autocorrelation, which is Fidelity Maryland 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 Maryland's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Maryland returns to help us make a trade decision. For example, suppose you find that Fidelity Maryland 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 Maryland 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 Maryland mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Maryland 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 Maryland mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Maryland Lagged Returns
When evaluating Fidelity Maryland's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Maryland mutual fund have on its future price. Fidelity Maryland 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 Maryland autocorrelation shows the relationship between Fidelity Maryland mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Maryland 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 Maryland 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 Maryland security.
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