Prudential Absolute Return Fund Market Value
| PADZX Fund | USD 9.17 0.01 0.11% |
| Symbol | Prudential |
Prudential Absolute '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 Prudential Absolute'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 Prudential Absolute.
| 09/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Prudential Absolute on September 4, 2023 and sell it all today you would earn a total of 0.00 from holding Prudential Absolute Return or generate 0.0% return on investment in Prudential Absolute over 450 days. Prudential Absolute is related to or competes with Copeland Risk, Siit High, Goldman Sachs, Metropolitan West, California High-yield, and Vanguard High-yield. The fund invests at least 80 percent of its investable assets in debt securities andor investments that provide exposure... More
Prudential Absolute 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 Prudential Absolute'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 Prudential Absolute Return upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1175 | |||
| Information Ratio | (0.86) | |||
| Maximum Drawdown | 0.6669 | |||
| Value At Risk | (0.11) | |||
| Potential Upside | 0.1109 |
Prudential Absolute Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prudential Absolute's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prudential Absolute's standard deviation. In reality, there are many statistical measures that can use Prudential Absolute historical prices to predict the future Prudential Absolute's volatility.| Risk Adjusted Performance | 0.1413 | |||
| Jensen Alpha | 0.0222 | |||
| Total Risk Alpha | 0.0017 | |||
| Sortino Ratio | (0.85) | |||
| Treynor Ratio | (1.18) |
Prudential Absolute Backtested Returns
At this stage we consider Prudential Mutual Fund to be very steady. Prudential Absolute maintains Sharpe Ratio (i.e., Efficiency) of 0.26, which implies the entity had a 0.26% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Prudential Absolute, which you can use to evaluate the volatility of the fund. Please check Prudential Absolute's Downside Deviation of 0.1175, risk adjusted performance of 0.1413, and Standard Deviation of 0.1171 to confirm if the risk estimate we provide is consistent with the expected return of 0.0311%. The fund holds a Beta of -0.0171, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Prudential Absolute are expected to decrease at a much lower rate. During the bear market, Prudential Absolute is likely to outperform the market.
Auto-correlation | 0.97 |
Excellent predictability
Prudential Absolute Return has excellent predictability. Overlapping area represents the amount of predictability between Prudential Absolute time series from 4th of September 2023 to 16th of April 2024 and 16th of April 2024 to 27th 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 Prudential Absolute price movement. The serial correlation of 0.97 indicates that 97.0% of current Prudential Absolute price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.97 | |
| Spearman Rank Test | 0.98 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Prudential Absolute lagged returns against current returns
Autocorrelation, which is Prudential Absolute 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 Prudential Absolute's mutual fund expected returns. We can calculate the autocorrelation of Prudential Absolute returns to help us make a trade decision. For example, suppose you find that Prudential Absolute 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 |
Prudential Absolute 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 Prudential Absolute mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prudential Absolute mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Prudential Absolute mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Prudential Absolute Lagged Returns
When evaluating Prudential Absolute's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prudential Absolute mutual fund have on its future price. Prudential Absolute 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, Prudential Absolute autocorrelation shows the relationship between Prudential Absolute mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Prudential Absolute Return.
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 Prudential Mutual Fund
Prudential Absolute financial ratios help investors to determine whether Prudential 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 Prudential with respect to the benefits of owning Prudential Absolute security.
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |