Pgim High Yield Fund Market Value
| ISD Fund | USD 13.79 0.08 0.58% |
| Symbol | Pgim |
Pgim High '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 Pgim High's 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 Pgim High.
| 12/19/2024 |
| 01/18/2025 |
If you would invest 0.00 in Pgim High on December 19, 2024 and sell it all today you would earn a total of 0.00 from holding Pgim High Yield or generate 0.0% return on investment in Pgim High over 30 days. Pgim High is related to or competes with Virtus Dividend, Nuveen Global, Allianzgi Convertible, Neuberger Berman, First Trust, First Trust, and Nuveen Mortgage. PGIM High Yield Bond Fund, Inc. is a close ended fixed income mutual fund launched and managed by Prudential Investments... More
Pgim High 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 Pgim High's 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 Pgim High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9442 | |||
| Information Ratio | 0.014 | |||
| Maximum Drawdown | 3.84 | |||
| Value At Risk | (1.40) | |||
| Potential Upside | 1.08 |
Pgim High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pgim High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pgim High's standard deviation. In reality, there are many statistical measures that can use Pgim High historical prices to predict the future Pgim High's volatility.| Risk Adjusted Performance | 0.0421 | |||
| Jensen Alpha | 0.0276 | |||
| Total Risk Alpha | 0.012 | |||
| Sortino Ratio | 0.012 | |||
| Treynor Ratio | 0.1785 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pgim High'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.
Pgim High Yield Backtested Returns
At this point, Pgim High is very steady. Pgim High Yield maintains Sharpe Ratio (i.e., Efficiency) of 0.0316, which implies the entity had a 0.0316% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Pgim High Yield, which you can use to evaluate the volatility of the fund. Please check Pgim High's Semi Deviation of 0.8495, coefficient of variation of 1972.73, and Risk Adjusted Performance of 0.0421 to confirm if the risk estimate we provide is consistent with the expected return of 0.0256%. The fund holds a Beta of 0.17, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pgim High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pgim High is expected to be smaller as well.
Auto-correlation | 0.30 |
Below average predictability
Pgim High Yield has below average predictability. Overlapping area represents the amount of predictability between Pgim High time series from 19th of December 2024 to 3rd of January 2025 and 3rd of January 2025 to 18th 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 Pgim High Yield price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current Pgim High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.3 | |
| Spearman Rank Test | 0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Pgim High Yield lagged returns against current returns
Autocorrelation, which is Pgim High 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 Pgim High's fund expected returns. We can calculate the autocorrelation of Pgim High returns to help us make a trade decision. For example, suppose you find that Pgim High has exhibited high autocorrelation historically, and you observe that the 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 |
Pgim High 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 Pgim High fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pgim High fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pgim High fund over time.
Current vs Lagged Prices |
| Timeline |
Pgim High Lagged Returns
When evaluating Pgim High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pgim High fund have on its future price. Pgim High 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, Pgim High autocorrelation shows the relationship between Pgim High fund current value and its past values and can show if there is a momentum factor associated with investing in Pgim High Yield.
Regressed Prices |
| Timeline |
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Other Information on Investing in Pgim Fund
Pgim High financial ratios help investors to determine whether Pgim 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 Pgim with respect to the benefits of owning Pgim High security.
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