Projected Return Density against Market
Considering 30-days investment horizon, AllianceBern has beta of 0.12 . This suggests as returns on market go up, AllianceBern avarage returns are expected to increase less than the benchmark. However during bear market, the loss on holding AllianceBernstein Income Fund Inc will be expected to be much smaller as well. Moreover, AllianceBernstein Income Fund Inc has alpha of 0.12 implying that it can potentially generate 0.12% excess return over S&P 500 after adjusting for the inherited market risk (beta).
Predicted Return Density
Considering 30-days investment horizon, the coefficient of variation of AllianceBern is -321.8. The daily returns are destributed with a variance of 0.12 and standard deviation of 0.35. The mean deviation of AllianceBernstein Income Fund Inc is currently at 0.26. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.55
Actual Return Volatility
AllianceBernstein Income Fund Inc has volatility of 0.35%
on return distribution over 30 days investment horizon. S&P 500 shows 0.55% volatility of returns over 30 trading days.