Core Plus Bond Fund Market Value
| PBMMX Fund | USD 8.76 0.03 0.34% |
| Symbol | Core |
Core Plus '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 Core Plus' 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 Core Plus.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Core Plus on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Core Plus Bond or generate 0.0% return on investment in Core Plus over 30 days. Core Plus is related to or competes with Strategic Asset, Strategic Asset, Strategic Asset, Strategic Asset, Strategic Asset, International Equity, and Strategic Asset. Under normal circumstances, the fund invests at least 80 percent of its net assets, plus any borrowings for investment p... More
Core Plus 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 Core Plus' 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 Core Plus Bond upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 1.9 | |||
| Value At Risk | (0.78) | |||
| Potential Upside | 0.5513 |
Core Plus Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Core Plus' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Core Plus' standard deviation. In reality, there are many statistical measures that can use Core Plus historical prices to predict the future Core Plus' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.18) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Core Plus' 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.
Core Plus Bond Backtested Returns
Core Plus Bond secures Sharpe Ratio (or Efficiency) of -0.0968, which signifies that the fund had a -0.0968% return per unit of risk over the last 3 months. Core Plus Bond exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Core Plus' Standard Deviation of 0.4093, mean deviation of 0.3155, and Risk Adjusted Performance of (0.07) to double-check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.29, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Core Plus' returns are expected to increase less than the market. However, during the bear market, the loss of holding Core Plus is expected to be smaller as well.
Auto-correlation | 0.47 |
Average predictability
Core Plus Bond has average predictability. Overlapping area represents the amount of predictability between Core Plus time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Core Plus Bond price movement. The serial correlation of 0.47 indicates that about 47.0% of current Core Plus price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.47 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Core Plus Bond lagged returns against current returns
Autocorrelation, which is Core Plus 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 Core Plus' mutual fund expected returns. We can calculate the autocorrelation of Core Plus returns to help us make a trade decision. For example, suppose you find that Core Plus 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 |
Core Plus 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 Core Plus mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Core Plus mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Core Plus mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Core Plus Lagged Returns
When evaluating Core Plus' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Core Plus mutual fund have on its future price. Core Plus 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, Core Plus autocorrelation shows the relationship between Core Plus mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Core Plus Bond.
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 Core Plus 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, Core Plus' short interest history, or implied volatility extrapolated from Core Plus options trading.
Becoming a Better Investor with Macroaxis
Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as Core Plus Bond using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.Build Optimal Portfolios
Align your risk with return expectations
Check out Core Plus Correlation, Core Plus Volatility and Core Plus Alpha and Beta module to complement your research on Core Plus. You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
Core Plus 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.