Prudential Muni High Fund Market Value
| PHICX Fund | USD 9.39 0.01 0.11% |
| Symbol | Prudential |
Prudential Muni '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 Muni'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 Muni.
| 12/26/2024 |
| 03/26/2025 |
If you would invest 0.00 in Prudential Muni on December 26, 2024 and sell it all today you would earn a total of 0.00 from holding Prudential Muni High or generate 0.0% return on investment in Prudential Muni over 90 days. Prudential Muni is related to or competes with Pace International, Victory Cemp, Ep Emerging, Calvert Developed, and Doubleline Emerging. The fund normally invests at least 80 percent of its investable assets in municipal bonds, which are fixed-income securi... More
Prudential Muni 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 Muni'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 Muni High upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 1.38 | |||
| Value At Risk | (0.63) | |||
| Potential Upside | 0.4219 |
Prudential Muni Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prudential Muni's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prudential Muni's standard deviation. In reality, there are many statistical measures that can use Prudential Muni historical prices to predict the future Prudential Muni's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.02) | |||
| Treynor Ratio | (0.41) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Prudential Muni'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 Muni High Backtested Returns
At this stage we consider Prudential Mutual Fund to be very steady. Prudential Muni High maintains Sharpe Ratio (i.e., Efficiency) of 0.0215, which implies the entity had a 0.0215 % return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Prudential Muni High, which you can use to evaluate the volatility of the fund. Please check Prudential Muni's Coefficient Of Variation of (2,560), variance of 0.0774, and Risk Adjusted Performance of (0.05) to confirm if the risk estimate we provide is consistent with the expected return of 0.0056%. The fund holds a Beta of 0.0508, which implies not very significant fluctuations relative to the market. As returns on the market increase, Prudential Muni's returns are expected to increase less than the market. However, during the bear market, the loss of holding Prudential Muni is expected to be smaller as well.
Auto-correlation | -0.74 |
Almost perfect reverse predictability
Prudential Muni High has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Prudential Muni time series from 26th of December 2024 to 9th of February 2025 and 9th of February 2025 to 26th of March 2025. 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 Muni High price movement. The serial correlation of -0.74 indicates that around 74.0% of current Prudential Muni price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.74 | |
| Spearman Rank Test | -0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Prudential Muni High lagged returns against current returns
Autocorrelation, which is Prudential Muni 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 Muni's mutual fund expected returns. We can calculate the autocorrelation of Prudential Muni returns to help us make a trade decision. For example, suppose you find that Prudential Muni 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 Muni 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 Muni mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prudential Muni 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 Muni mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Prudential Muni Lagged Returns
When evaluating Prudential Muni's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prudential Muni mutual fund have on its future price. Prudential Muni 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 Muni autocorrelation shows the relationship between Prudential Muni mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Prudential Muni High.
Regressed Prices |
| Timeline |
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Other Information on Investing in Prudential Mutual Fund
Prudential Muni financial ratios help investors to determine whether Prudential Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Prudential with respect to the benefits of owning Prudential Muni security.
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