Alliancebernstein Beta vs. Annual Yield

AFB Fund  USD 11.49  0.03  0.26%   
Considering Alliancebernstein's profitability and operating efficiency indicators, Alliancebernstein National Municipal may not be well positioned to generate adequate gross income at this time. It has a very high probability of underperforming in January. Profitability indicators assess Alliancebernstein's ability to earn profits and add value for shareholders.
For Alliancebernstein profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Alliancebernstein to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well Alliancebernstein National Municipal utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between Alliancebernstein's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of Alliancebernstein National Municipal over time as well as its relative position and ranking within its peers.
  
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Please note, there is a significant difference between Alliancebernstein's value and its price as these two are different measures arrived at by different means. Investors typically determine if Alliancebernstein is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Alliancebernstein's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Alliancebernstein Annual Yield vs. Beta Fundamental Analysis

Comparative valuation techniques use various fundamental indicators to help in determining Alliancebernstein's current stock value. Our valuation model uses many indicators to compare Alliancebernstein value to that of its competitors to determine the firm's financial worth.
Alliancebernstein National Municipal is rated below average in beta among similar funds. It is rated below average in annual yield among similar funds fabricating about  0.02  of Annual Yield per Beta. The ratio of Beta to Annual Yield for Alliancebernstein National Municipal is roughly  60.38 . The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Alliancebernstein's earnings, one of the primary drivers of an investment's value.

Alliancebernstein Annual Yield vs. Beta

Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.

Alliancebernstein

Beta

 = 

Covariance

Variance

 = 
0.32
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
Yield generally refers to the amount of cash that is paid back to the owner of a security over a specific time (usually one year). It is expressed as a percentage of current market price, and usually amounts to all the interests and/or dividends paid over a given period. A higher yield allows the shareholders to generate returns on their investments sooner. However, investors should also be aware that a high yield may be a result of market turmoil or increased price volatility.

Alliancebernstein

Yield

 = 

Income from Security

Current Share Price

 = 
0.01 %
Small firms, start-ups, or companies with high growth potential typically do not pay out dividends or distribute a lot of their profits. These companies will have small yield. Alternatively, more established companies, ETFs, and funds that invest in bonds will have higher yields.

Alliancebernstein Annual Yield Comparison

Alliancebernstein is currently under evaluation in annual yield among similar funds.

Beta Analysis

As returns on the market increase, Alliancebernstein's returns are expected to increase less than the market. However, during the bear market, the loss of holding Alliancebernstein is expected to be smaller as well.

Alliancebernstein Profitability Projections

The most important aspect of a successful company is its ability to generate a profit. For investors in Alliancebernstein, profitability is also one of the essential criteria for including it into their portfolios because, without profit, Alliancebernstein will eventually generate negative long term returns. The profitability progress is the general direction of Alliancebernstein's change in net profit over the period of time. It can combine multiple indicators of Alliancebernstein, where stable trends show no significant progress. An accelerating trend is seen as positive, while a decreasing one is unfavorable. A rising trend means that profits are rising, and operational efficiency may be rising as well. A decreasing trend is a sign of poor performance and may indicate upcoming losses.
AllianceBernstein National Municipal Income Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The fund invests in the fixed income markets of the United States. It primarily invests in investment-grade municipal securities which pay interest that is exempt from federal income tax. The fund seeks to invest in bonds rated BaaBBB or higher. It employs both quantitative and fundamental analysis to create its portfolio. AllianceBernstein National Municipal Income Fund, Inc. was formed on November 9, 2001 and is domiciled in the United States.

Alliancebernstein Profitability Driver Comparison

Profitability drivers are factors that can directly affect your investment outlook on Alliancebernstein. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of Alliancebernstein position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the Alliancebernstein's important profitability drivers and their relationship over time.

Use Alliancebernstein in pair-trading

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Alliancebernstein position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Alliancebernstein will appreciate offsetting losses from the drop in the long position's value.

Alliancebernstein Pair Trading

Alliancebernstein National Municipal Pair Trading Analysis

The ability to find closely correlated positions to Alliancebernstein could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alliancebernstein when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Alliancebernstein - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Alliancebernstein National Municipal to buy it.
The correlation of Alliancebernstein is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alliancebernstein moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alliancebernstein moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Alliancebernstein can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching

Use Investing Themes to Complement your Alliancebernstein position

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Other Information on Investing in Alliancebernstein Fund

To fully project Alliancebernstein's future profitability, investors should examine all historical financial statements. These statements provide investors with a comprehensive snapshot of the financial position of Alliancebernstein at a specified time, usually calculated after every quarter, six months, or one year. Three primary documents fall into the category of financial statements. These documents include Alliancebernstein's income statement, its balance sheet, and the statement of cash flows.
Potential Alliancebernstein investors and stakeholders can use historical trends found within financial statements to determine how well the company is positioned for the future. Although Alliancebernstein investors may work on each financial statement separately, they are all related. The changes in Alliancebernstein's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Alliancebernstein's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet but not equivalent to net income shown on the income statement. Please read more on our technical analysis and fundamental analysis pages.
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