Kentucky Tax Free Income Fund Market Value
| KYTFX Fund | USD 7.21 0.02 0.28% |
| Symbol | Kentucky |
Kentucky 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 Kentucky 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 Kentucky Tax.
| 02/19/2024 |
| 05/19/2024 |
If you would invest 0.00 in Kentucky Tax on February 19, 2024 and sell it all today you would earn a total of 0.00 from holding Kentucky Tax Free Income or generate 0.0% return on investment in Kentucky Tax over 90 days. Kentucky Tax is related to or competes with Colorado Bondshares, Hawaiian Tax, and Hawaiian Tax. The fund seeks to provide a steady flow of tax-exempt income derived from Kentucky municipal securities of investment gr... More
Kentucky 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 Kentucky 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 Kentucky Tax Free Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2936 | |||
| Information Ratio | (0.63) | |||
| Maximum Drawdown | 1.25 | |||
| Value At Risk | (0.28) | |||
| Potential Upside | 0.1399 |
Kentucky Tax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kentucky Tax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kentucky Tax's standard deviation. In reality, there are many statistical measures that can use Kentucky Tax historical prices to predict the future Kentucky Tax's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.32) | |||
| Treynor Ratio | (0.06) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Kentucky 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.
Kentucky Tax Free Backtested Returns
We consider Kentucky Tax very steady. Kentucky Tax Free has Sharpe Ratio of 0.0149, which conveys that the entity had a 0.0149% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Kentucky Tax, which you can use to evaluate the volatility of the fund. Please verify Kentucky Tax's Risk Adjusted Performance of (0.01), mean deviation of 0.0743, and Downside Deviation of 0.2936 to check out if the risk estimate we provide is consistent with the expected return of 0.0023%. The fund secures a Beta (Market Risk) of 0.0885, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Kentucky Tax's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kentucky Tax is expected to be smaller as well.
Auto-correlation | -0.1 |
Very weak reverse predictability
Kentucky Tax Free Income has very weak reverse predictability. Overlapping area represents the amount of predictability between Kentucky Tax time series from 19th of February 2024 to 4th of April 2024 and 4th of April 2024 to 19th of May 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 Kentucky Tax Free price movement. The serial correlation of -0.1 indicates that less than 10.0% of current Kentucky Tax price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Kentucky Tax Free lagged returns against current returns
Autocorrelation, which is Kentucky 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 Kentucky Tax's mutual fund expected returns. We can calculate the autocorrelation of Kentucky Tax returns to help us make a trade decision. For example, suppose you find that Kentucky 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 |
Kentucky 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 Kentucky Tax mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kentucky 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 Kentucky Tax mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Kentucky Tax Lagged Returns
When evaluating Kentucky Tax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kentucky Tax mutual fund have on its future price. Kentucky 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, Kentucky Tax autocorrelation shows the relationship between Kentucky Tax mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Kentucky Tax Free Income.
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.Check out Kentucky Tax Correlation, Kentucky Tax Volatility and Kentucky Tax Alpha and Beta module to complement your research on Kentucky Tax. Note that the Kentucky Tax Free information on this page should be used as a complementary analysis to other Kentucky Tax's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Kentucky Tax technical mutual fund 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, fund market cycles, or different charting patterns.