Prudential Porate Bond Fund Market Value
| TGMBX Fund | USD 10.10 0.01 0.1% |
| Symbol | Prudential |
Prudential Corporate '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 Corporate'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 Corporate.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Prudential Corporate on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Prudential Porate Bond or generate 0.0% return on investment in Prudential Corporate over 360 days. Prudential Corporate is related to or competes with First Eagle, Invesco Gold, James Balanced, International Investors, and Fidelity Advisor. The fund normally invests at least 80 percent of its investable assets in bonds of corporations with varying maturities More
Prudential Corporate 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 Corporate'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 Porate Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3773 | |||
| Information Ratio | (0.35) | |||
| Maximum Drawdown | 1.5 | |||
| Value At Risk | (0.59) | |||
| Potential Upside | 0.498 |
Prudential Corporate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prudential Corporate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prudential Corporate's standard deviation. In reality, there are many statistical measures that can use Prudential Corporate historical prices to predict the future Prudential Corporate's volatility.| Risk Adjusted Performance | 0.009 | |||
| Jensen Alpha | 0.0015 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.30) | |||
| Treynor Ratio | 0.0255 |
Prudential Porate Bond Backtested Returns
Prudential Porate Bond maintains Sharpe Ratio (i.e., Efficiency) of -0.0172, which implies the entity had a -0.0172% return per unit of risk over the last 3 months. Prudential Porate Bond exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Prudential Corporate's Coefficient Of Variation of 3472.6, risk adjusted performance of 0.009, and Semi Deviation of 0.2983 to confirm the risk estimate we provide. The fund holds a Beta of -0.0168, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Prudential Corporate are expected to decrease at a much lower rate. During the bear market, Prudential Corporate is likely to outperform the market.
Auto-correlation | -0.06 |
Very weak reverse predictability
Prudential Porate Bond has very weak reverse predictability. Overlapping area represents the amount of predictability between Prudential Corporate time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd of December 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 Porate Bond price movement. The serial correlation of -0.06 indicates that barely 6.0% of current Prudential Corporate price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Prudential Porate Bond lagged returns against current returns
Autocorrelation, which is Prudential Corporate 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 Corporate's mutual fund expected returns. We can calculate the autocorrelation of Prudential Corporate returns to help us make a trade decision. For example, suppose you find that Prudential Corporate 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 Corporate 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 Corporate mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prudential Corporate 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 Corporate mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Prudential Corporate Lagged Returns
When evaluating Prudential Corporate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prudential Corporate mutual fund have on its future price. Prudential Corporate 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 Corporate autocorrelation shows the relationship between Prudential Corporate mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Prudential Porate Bond.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Prudential Mutual Fund
Prudential Corporate 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 Corporate security.
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