Fidelity Pennsylvania Municipal Fund Market Value
| FPXTX Fund | USD 10.45 0.02 0.19% |
| Symbol | Fidelity |
Fidelity 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 Fidelity 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 Fidelity Pennsylvania.
| 06/29/2024 |
| 12/26/2024 |
If you would invest 0.00 in Fidelity Pennsylvania on June 29, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Pennsylvania Municipal or generate 0.0% return on investment in Fidelity Pennsylvania over 180 days. Fidelity Pennsylvania is related to or competes with Fidelity Ohio, Fidelity Arizona, Fidelity Necticut, Fidelity Maryland, and Fidelity New. The fund normally invests at least 80 percent of its assets in investment-grade municipal securities whose interest is e... More
Fidelity 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 Fidelity 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 Fidelity Pennsylvania Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 1.43 | |||
| Value At Risk | (0.38) | |||
| Potential Upside | 0.2871 |
Fidelity Pennsylvania Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Pennsylvania's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Pennsylvania's standard deviation. In reality, there are many statistical measures that can use Fidelity Pennsylvania historical prices to predict the future Fidelity Pennsylvania's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | 0.8889 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity 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.
Fidelity Pennsylvania Backtested Returns
Fidelity Pennsylvania secures Sharpe Ratio (or Efficiency) of -0.0898, which denotes the fund had a -0.0898% return per unit of risk over the last 3 months. Fidelity Pennsylvania Municipal exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity Pennsylvania's Mean Deviation of 0.1643, standard deviation of 0.2443, and Variance of 0.0597 to check the risk estimate we provide. The fund shows a Beta (market volatility) of -0.0336, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fidelity Pennsylvania are expected to decrease at a much lower rate. During the bear market, Fidelity Pennsylvania is likely to outperform the market.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Fidelity Pennsylvania Municipal has insignificant reverse predictability. Overlapping area represents the amount of predictability between Fidelity Pennsylvania time series from 29th of June 2024 to 27th of September 2024 and 27th of September 2024 to 26th 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 Fidelity Pennsylvania price movement. The serial correlation of -0.12 indicates that less than 12.0% of current Fidelity Pennsylvania price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fidelity Pennsylvania lagged returns against current returns
Autocorrelation, which is Fidelity 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 Fidelity Pennsylvania's mutual fund expected returns. We can calculate the autocorrelation of Fidelity Pennsylvania returns to help us make a trade decision. For example, suppose you find that Fidelity 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 |
Fidelity 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 Fidelity Pennsylvania mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity 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 Fidelity Pennsylvania mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Pennsylvania Lagged Returns
When evaluating Fidelity Pennsylvania's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Pennsylvania mutual fund have on its future price. Fidelity 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, Fidelity Pennsylvania autocorrelation shows the relationship between Fidelity Pennsylvania mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Pennsylvania 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 Pennsylvania 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 Pennsylvania security.
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