Prudential High Yield Fund Market Value
| PBHAX Fund | USD 4.63 0.01 0.22% |
| 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.
| 06/28/2023 |
| 04/23/2024 |
If you would invest 0.00 in Prudential High on June 28, 2023 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 300 days. Prudential High is related to or competes with Prudential Jennison, Prudential Jennison, Prudential Jennison, Prudential Emerging, Prudential Emerging, Prudential Emerging, and Prudential Financial. 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 | 0.3845 | |||
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 1.51 | |||
| Value At Risk | (0.43) | |||
| Potential Upside | 0.2174 |
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 | 0.0104 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.20) | |||
| Treynor Ratio | 9.0E-4 |
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
We consider Prudential High very steady. Prudential High Yield maintains Sharpe Ratio (i.e., Efficiency) of 0.0278, which implies the entity had a 0.0278% 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 0.0104, semi deviation of 0.1747, and Coefficient Of Variation of 2519.69 to confirm if the risk estimate we provide is consistent with the expected return of 0.0073%. The fund holds a Beta of 0.19, which implies not very significant fluctuations relative to the market. As returns on the market increase, Prudential High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Prudential High is expected to be smaller as well.
Auto-correlation | -0.27 |
Weak reverse predictability
Prudential High Yield has weak reverse predictability. Overlapping area represents the amount of predictability between Prudential High time series from 28th of June 2023 to 25th of November 2023 and 25th of November 2023 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 High Yield price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current Prudential High price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.27 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
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 |
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Check out Prudential High Correlation, Prudential High Volatility and Prudential High Alpha and Beta module to complement your research on Prudential High. Note that the Prudential High Yield information on this page should be used as a complementary analysis to other Prudential High's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Prudential 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.