Prudential Health Sciences Fund Market Value
| PHLCX Fund | USD 18.80 0.10 0.53% |
| Symbol | Prudential |
Prudential Health '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 Health'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 Health.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Prudential Health on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Prudential Health Sciences or generate 0.0% return on investment in Prudential Health over 30 days. Prudential Health is related to or competes with Short Precious, Goldman Sachs, Great-west Goldman, Goldman Sachs, and International Investors. The fund seeks investments whose prices will increase over time More
Prudential Health 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 Health'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 Health Sciences upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 5.09 | |||
| Value At Risk | (1.37) | |||
| Potential Upside | 1.04 |
Prudential Health Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prudential Health's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prudential Health's standard deviation. In reality, there are many statistical measures that can use Prudential Health historical prices to predict the future Prudential Health's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | (0.12) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Prudential Health'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.
Prudential Health Backtested Returns
Prudential Health maintains Sharpe Ratio (i.e., Efficiency) of -0.0796, which implies the entity had a -0.0796% return per unit of risk over the last 3 months. Prudential Health exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Prudential Health's Coefficient Of Variation of (1,332), variance of 0.7619, and Risk Adjusted Performance of (0.06) to confirm the risk estimate we provide. The fund holds a Beta of 0.63, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Prudential Health's returns are expected to increase less than the market. However, during the bear market, the loss of holding Prudential Health is expected to be smaller as well.
Auto-correlation | 0.20 |
Weak predictability
Prudential Health Sciences has weak predictability. Overlapping area represents the amount of predictability between Prudential Health time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Health price movement. The serial correlation of 0.2 indicates that over 20.0% of current Prudential Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Prudential Health lagged returns against current returns
Autocorrelation, which is Prudential Health 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 Health's mutual fund expected returns. We can calculate the autocorrelation of Prudential Health returns to help us make a trade decision. For example, suppose you find that Prudential Health 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 Health 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 Health mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prudential Health 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 Health mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Prudential Health Lagged Returns
When evaluating Prudential Health's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prudential Health mutual fund have on its future price. Prudential Health 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 Health autocorrelation shows the relationship between Prudential Health mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Prudential Health Sciences.
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 Health 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 Health security.
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