Prudential High Yield Fund Market Value
| PRHCX Fund | USD 4.81 0.01 0.21% |
| Symbol | Prudential |
Prudential 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 Prudential High'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 High.
| 12/04/2022 |
| 11/23/2024 |
If you would invest 0.00 in Prudential High on December 4, 2022 and sell it all today you would earn a total of 0.00 from holding Prudential High Yield or generate 0.0% return on investment in Prudential High over 720 days. Prudential High is related to or competes with Fidelity Series, Us Government, Lord Abbett, Government Securities, Us Government, Dunham Corporate/govern, and Blackrock. The fund normally invests at least 80 percent of its investable assets in a diversified portfolio of high yield fixed-income instruments rated Ba or lower by Moodys Investors Service or BB or lower by SP Global Ratings , and instruments either comparably rated by another nationally recognized statistical rating organization , or considered to be of comparable quality, that is, junk bonds. More
Prudential 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 Prudential High'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 High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2367 | |||
| Information Ratio | (0.61) | |||
| Maximum Drawdown | 0.8273 | |||
| Value At Risk | (0.21) | |||
| Potential Upside | 0.211 |
Prudential High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prudential High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prudential High's standard deviation. In reality, there are many statistical measures that can use Prudential High historical prices to predict the future Prudential High's volatility.| Risk Adjusted Performance | 0.0964 | |||
| Jensen Alpha | 0.02 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.43) | |||
| Treynor Ratio | (1.84) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Prudential 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.
Prudential High Yield Backtested Returns
At this stage we consider Prudential Mutual Fund to be very steady. Prudential High Yield maintains Sharpe Ratio (i.e., Efficiency) of 0.14, which implies the entity had a 0.14% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Prudential High Yield, which you can use to evaluate the volatility of the fund. Please check Prudential High's Risk Adjusted Performance of 0.0964, downside deviation of 0.2367, and Standard Deviation of 0.1666 to confirm if the risk estimate we provide is consistent with the expected return of 0.0227%. The fund holds a Beta of -0.0102, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Prudential High are expected to decrease at a much lower rate. During the bear market, Prudential High is likely to outperform the market.
Auto-correlation | 0.58 |
Modest predictability
Prudential High Yield has modest predictability. Overlapping area represents the amount of predictability between Prudential High time series from 4th of December 2022 to 29th of November 2023 and 29th of November 2023 to 23rd 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 High Yield price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Prudential High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Prudential High Yield lagged returns against current returns
Autocorrelation, which is Prudential High 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 High's mutual fund expected returns. We can calculate the autocorrelation of Prudential High returns to help us make a trade decision. For example, suppose you find that Prudential High 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 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 Prudential High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prudential High 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 High mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Prudential High Lagged Returns
When evaluating Prudential High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prudential High mutual fund have on its future price. Prudential 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, Prudential High autocorrelation shows the relationship between Prudential High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Prudential High Yield.
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 High 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 High security.
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