American High Income Municipal Fund Market Value
| ABHFX Fund | USD 15.50 0.06 0.39% |
| Symbol | American |
American High-income '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 American High-income'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 American High-income.
| 01/31/2024 |
| 11/26/2024 |
If you would invest 0.00 in American High-income on January 31, 2024 and sell it all today you would earn a total of 0.00 from holding American High Income Municipal or generate 0.0% return on investment in American High-income over 300 days. American High-income is related to or competes with Tax Exempt, American High-income, American High, Bond Fund, and Limited Term. The investment seeks a high level of current income exempt from regular federal income tax More
American High-income 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 American High-income'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 American High Income Municipal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4079 | |||
| Information Ratio | (0.40) | |||
| Maximum Drawdown | 1.5 | |||
| Value At Risk | (0.32) | |||
| Potential Upside | 0.3272 |
American High-income Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for American High-income's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as American High-income's standard deviation. In reality, there are many statistical measures that can use American High-income historical prices to predict the future American High-income's volatility.| Risk Adjusted Performance | 0.0448 | |||
| Jensen Alpha | 0.0239 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.26) | |||
| Treynor Ratio | (0.12) |
American High Income Backtested Returns
At this stage we consider American Mutual Fund to be very steady. American High Income secures Sharpe Ratio (or Efficiency) of 0.0835, which signifies that the fund had a 0.0835% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for American High Income Municipal, which you can use to evaluate the volatility of the entity. Please confirm American High-income's risk adjusted performance of 0.0448, and Mean Deviation of 0.162 to double-check if the risk estimate we provide is consistent with the expected return of 0.022%. The fund shows a Beta (market volatility) of -0.1, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning American High-income are expected to decrease at a much lower rate. During the bear market, American High-income is likely to outperform the market.
Auto-correlation | 0.30 |
Below average predictability
American High Income Municipal has below average predictability. Overlapping area represents the amount of predictability between American High-income time series from 31st of January 2024 to 29th of June 2024 and 29th of June 2024 to 26th of November 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 American High Income price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current American High-income price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.3 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
American High Income lagged returns against current returns
Autocorrelation, which is American High-income 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 American High-income's mutual fund expected returns. We can calculate the autocorrelation of American High-income returns to help us make a trade decision. For example, suppose you find that American High-income 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 |
American High-income 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 American High-income mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if American High-income mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in American High-income mutual fund over time.
Current vs Lagged Prices |
| Timeline |
American High-income Lagged Returns
When evaluating American High-income's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of American High-income mutual fund have on its future price. American High-income 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, American High-income autocorrelation shows the relationship between American High-income mutual fund current value and its past values and can show if there is a momentum factor associated with investing in American High Income 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 American Mutual Fund
American High-income financial ratios help investors to determine whether American 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 American with respect to the benefits of owning American High-income security.
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