Westcore Municipal Opportunities Fund Market Value
| WITAX Fund | USD 9.59 0.02 0.21% |
| Symbol | Westcore |
Westcore 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 Westcore Municipal'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 Westcore Municipal.
| 12/10/2024 |
| 01/09/2025 |
If you would invest 0.00 in Westcore Municipal on December 10, 2024 and sell it all today you would earn a total of 0.00 from holding Westcore Municipal Opportunities or generate 0.0% return on investment in Westcore Municipal over 30 days. Westcore Municipal is related to or competes with Georgia Tax-free, Leader Short-term, Artisan High, Oklahoma Municipal, Pioneer Amt-free, Multisector Bond, and Maryland Tax-free. Under normal circumstances, the fund will invest at least eighty percent of the value of its net assets, plus any borrow... More
Westcore 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 Westcore Municipal'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 Westcore Municipal Opportunities upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 0.9335 | |||
| Value At Risk | (0.41) | |||
| Potential Upside | 0.2088 |
Westcore Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Westcore Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Westcore Municipal's standard deviation. In reality, there are many statistical measures that can use Westcore Municipal historical prices to predict the future Westcore Municipal's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | (0.82) |
Westcore Municipal Backtested Returns
Westcore Municipal shows Sharpe Ratio of -0.0579, which attests that the fund had a -0.0579% return per unit of risk over the last 3 months. Westcore Municipal exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Westcore Municipal's Market Risk Adjusted Performance of (0.81), mean deviation of 0.1403, and Standard Deviation of 0.1987 to validate the risk estimate we provide. The entity maintains a market beta of 0.0406, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Westcore Municipal's returns are expected to increase less than the market. However, during the bear market, the loss of holding Westcore Municipal is expected to be smaller as well.
Auto-correlation | -0.11 |
Insignificant reverse predictability
Westcore Municipal Opportunities has insignificant reverse predictability. Overlapping area represents the amount of predictability between Westcore Municipal time series from 10th of December 2024 to 25th of December 2024 and 25th of December 2024 to 9th of January 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 Westcore Municipal price movement. The serial correlation of -0.11 indicates that less than 11.0% of current Westcore Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.11 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Westcore Municipal lagged returns against current returns
Autocorrelation, which is Westcore Municipal 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 Westcore Municipal's mutual fund expected returns. We can calculate the autocorrelation of Westcore Municipal returns to help us make a trade decision. For example, suppose you find that Westcore Municipal 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 |
Westcore 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 Westcore Municipal mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Westcore Municipal mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Westcore Municipal mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Westcore Municipal Lagged Returns
When evaluating Westcore Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Westcore Municipal mutual fund have on its future price. Westcore 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, Westcore Municipal autocorrelation shows the relationship between Westcore Municipal mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Westcore Municipal Opportunities.
Regressed Prices |
| Timeline |
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Other Information on Investing in Westcore Mutual Fund
Westcore Municipal financial ratios help investors to determine whether Westcore 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 Westcore with respect to the benefits of owning Westcore Municipal security.
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