Prudential Health Sciences Fund Market Value
| PHLQX Fund | USD 47.61 0.33 0.70% |
| 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.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Prudential Health on March 24, 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 Prudential Jennison, Prudential Jennison, Pgim Jennison, Pgim Jennison, Prudential Short, Prudential Emerging, and Prudential Floating. 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.
| Downside Deviation | 0.989 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 5.63 | |||
| Value At Risk | (1.26) | |||
| Potential Upside | 1.3 |
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 | 0.0255 | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0253 |
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
We consider Prudential Health very steady. Prudential Health maintains Sharpe Ratio (i.e., Efficiency) of 0.0448, which implies the entity had a 0.0448% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Prudential Health, which you can use to evaluate the volatility of the fund. Please check Prudential Health's Semi Deviation of 0.9395, coefficient of variation of 2767.11, and Risk Adjusted Performance of 0.0255 to confirm if the risk estimate we provide is consistent with the expected return of 0.0421%. The fund holds a Beta of 0.92, which implies possible diversification benefits within a given portfolio. Prudential Health returns are very sensitive to returns on the market. As the market goes up or down, Prudential Health is expected to follow.
Auto-correlation | 0.75 |
Good predictability
Prudential Health Sciences has good predictability. Overlapping area represents the amount of predictability between Prudential Health time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 to 23rd of April 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 0.75 indicates that around 75.0% of current Prudential Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 1.14 |
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 |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Prudential Health in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Prudential Health's short interest history, or implied volatility extrapolated from Prudential Health options trading.
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Check out Prudential Health Correlation, Prudential Health Volatility and Prudential Health Alpha and Beta module to complement your research on Prudential Health. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Prudential Health technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.