High Income Fund Market Value
| NPHIX Fund | USD 8.73 0.01 0.11% |
| Symbol | High |
High Income '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 High Income'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 High Income.
| 05/09/2023 |
| 11/29/2024 |
If you would invest 0.00 in High Income on May 9, 2023 and sell it all today you would earn a total of 0.00 from holding High Income Fund or generate 0.0% return on investment in High Income over 570 days. High Income is related to or competes with Transamerica Financial, John Hancock, Fidelity Advisor, Gabelli Global, Davis Financial, Prudential Jennison, and Icon Financial. The fund invests primarily in high-yield corporate bonds and other debt instruments with an emphasis on those that are r... More
High Income 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 High Income'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 High Income Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1744 | |||
| Information Ratio | (0.57) | |||
| Maximum Drawdown | 0.8164 | |||
| Value At Risk | (0.23) | |||
| Potential Upside | 0.3456 |
High Income Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for High Income's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as High Income's standard deviation. In reality, there are many statistical measures that can use High Income historical prices to predict the future High Income's volatility.| Risk Adjusted Performance | 0.1012 | |||
| Jensen Alpha | 0.0109 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.55) | |||
| Treynor Ratio | 0.2556 |
High Income Fund Backtested Returns
At this stage we consider High Mutual Fund to be very steady. High Income Fund holds Efficiency (Sharpe) Ratio of 0.17, which attests that the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for High Income Fund, which you can use to evaluate the volatility of the entity. Please check out High Income's Market Risk Adjusted Performance of 0.2656, coefficient of variation of 559.57, and Risk Adjusted Performance of 0.1012 to validate if the risk estimate we provide is consistent with the expected return of 0.0258%. The fund retains a Market Volatility (i.e., Beta) of 0.078, which attests to not very significant fluctuations relative to the market. As returns on the market increase, High Income's returns are expected to increase less than the market. However, during the bear market, the loss of holding High Income is expected to be smaller as well.
Auto-correlation | 0.83 |
Very good predictability
High Income Fund has very good predictability. Overlapping area represents the amount of predictability between High Income time series from 9th of May 2023 to 18th of February 2024 and 18th of February 2024 to 29th of November 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 High Income Fund price movement. The serial correlation of 0.83 indicates that around 83.0% of current High Income price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
High Income Fund lagged returns against current returns
Autocorrelation, which is High Income 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 High Income's mutual fund expected returns. We can calculate the autocorrelation of High Income returns to help us make a trade decision. For example, suppose you find that High Income 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 |
High Income 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 High Income mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if High Income mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in High Income mutual fund over time.
Current vs Lagged Prices |
| Timeline |
High Income Lagged Returns
When evaluating High Income's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of High Income mutual fund have on its future price. High Income 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, High Income autocorrelation shows the relationship between High Income mutual fund current value and its past values and can show if there is a momentum factor associated with investing in High Income Fund.
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 High Mutual Fund
High Income financial ratios help investors to determine whether High 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 High with respect to the benefits of owning High Income security.
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