Prudential California Muni Fund Market Value
| PBCAX Fund | USD 9.83 0.01 0.10% |
| Symbol | Prudential |
Prudential California '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 California'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 California.
| 12/24/2024 |
| 01/23/2025 |
If you would invest 0.00 in Prudential California on December 24, 2024 and sell it all today you would earn a total of 0.00 from holding Prudential California Muni or generate 0.0% return on investment in Prudential California over 30 days. Prudential California is related to or competes with Vanguard California, Blackrock California, Brf Clf, Brf Clf, Brf Clf, California Intermediate-ter, and California Intermediate-ter. The fund invests primarily in California state and local municipal bonds, which are debt obligations or fixed income sec... More
Prudential California 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 California'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 California Muni upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 1.12 | |||
| Value At Risk | (0.40) | |||
| Potential Upside | 0.303 |
Prudential California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prudential California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prudential California's standard deviation. In reality, there are many statistical measures that can use Prudential California historical prices to predict the future Prudential California's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.03) | |||
| Treynor Ratio | (0.40) |
Prudential California Backtested Returns
At this stage we consider Prudential Mutual Fund to be very steady. Prudential California maintains Sharpe Ratio (i.e., Efficiency) of 0.0285, which implies the entity had a 0.0285 % return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Prudential California, which you can use to evaluate the volatility of the fund. Please check Prudential California's Coefficient Of Variation of (2,214), variance of 0.0399, and Risk Adjusted Performance of (0.07) to confirm if the risk estimate we provide is consistent with the expected return of 0.0054%. The fund holds a Beta of 0.0474, which implies not very significant fluctuations relative to the market. As returns on the market increase, Prudential California's returns are expected to increase less than the market. However, during the bear market, the loss of holding Prudential California is expected to be smaller as well.
Auto-correlation | 0.50 |
Modest predictability
Prudential California Muni has modest predictability. Overlapping area represents the amount of predictability between Prudential California time series from 24th of December 2024 to 8th of January 2025 and 8th of January 2025 to 23rd 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 Prudential California price movement. The serial correlation of 0.5 indicates that about 50.0% of current Prudential California price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Prudential California lagged returns against current returns
Autocorrelation, which is Prudential California 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 California's mutual fund expected returns. We can calculate the autocorrelation of Prudential California returns to help us make a trade decision. For example, suppose you find that Prudential California 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 California 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 California mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prudential California 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 California mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Prudential California Lagged Returns
When evaluating Prudential California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prudential California mutual fund have on its future price. Prudential California 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 California autocorrelation shows the relationship between Prudential California mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Prudential California Muni.
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 California 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 California security.
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