Franklin High Income Fund Market Value
| FCHIX Fund | USD 1.75 0.01 0.57% |
| Symbol | Franklin |
Franklin 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 Franklin 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 Franklin High.
| 04/06/2024 |
| 05/06/2024 |
If you would invest 0.00 in Franklin High on April 6, 2024 and sell it all today you would earn a total of 0.00 from holding Franklin High Income or generate 0.0% return on investment in Franklin High over 30 days. Franklin High is related to or competes with Ab Bond, Morningstar Defensive, Multisector Bond, Federated Municipal, T Rowe, Ab Impact, and Versatile Bond. The fund invests predominantly in high yield, lower-rated debt securities More
Franklin 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 Franklin 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 Franklin High Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6228 | |||
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 1.17 | |||
| Value At Risk | (0.57) | |||
| Potential Upside | 0.5814 |
Franklin High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Franklin High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Franklin High's standard deviation. In reality, there are many statistical measures that can use Franklin High historical prices to predict the future Franklin High's volatility.| Risk Adjusted Performance | 0.0654 | |||
| Jensen Alpha | 0.0225 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.4026 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Franklin 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.
Franklin High Income Backtested Returns
We consider Franklin High not too volatile. Franklin High Income secures Sharpe Ratio (or Efficiency) of 0.12, which denotes the fund had a 0.12% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for Franklin High Income, which you can use to evaluate the volatility of the entity. Please confirm Franklin High's Semi Deviation of 0.0879, mean deviation of 0.1895, and Downside Deviation of 0.6228 to check if the risk estimate we provide is consistent with the expected return of 0.0372%. The fund shows a Beta (market volatility) of 0.0675, which means not very significant fluctuations relative to the market. As returns on the market increase, Franklin High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Franklin High is expected to be smaller as well.
Auto-correlation | -0.28 |
Weak reverse predictability
Franklin High Income has weak reverse predictability. Overlapping area represents the amount of predictability between Franklin High time series from 6th of April 2024 to 21st of April 2024 and 21st of April 2024 to 6th of May 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 Franklin High Income price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Franklin High price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Franklin High Income lagged returns against current returns
Autocorrelation, which is Franklin 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 Franklin High's mutual fund expected returns. We can calculate the autocorrelation of Franklin High returns to help us make a trade decision. For example, suppose you find that Franklin 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 |
Franklin 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 Franklin High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Franklin 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 Franklin High mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Franklin High Lagged Returns
When evaluating Franklin High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Franklin High mutual fund have on its future price. Franklin 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, Franklin High autocorrelation shows the relationship between Franklin High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Franklin High Income.
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 Franklin High 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, Franklin High's short interest history, or implied volatility extrapolated from Franklin High options trading.
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Franklin High 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.