American High Income Fund Market Value
CITEX Fund | USD 9.57 0.01 0.10% |
Symbol | American |
American High '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 American High'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 American High.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in American High on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding American High Income or generate 0.0% return on investment in American High over 30 days. American High is related to or competes with USCF Gold, Income Fund, American Funds, New World, American Mutual, American Mutual, and American Funds. The fund invests primarily in higher yielding and generally lower quality debt securities , including corporate loan obl... More
American High 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 American High'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 American High Income upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 0.2927 | |||
Information Ratio | (0.45) | |||
Maximum Drawdown | 1.28 | |||
Value At Risk | (0.42) | |||
Potential Upside | 0.3188 |
American High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for American High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as American High's standard deviation. In reality, there are many statistical measures that can use American High historical prices to predict the future American High's volatility.Risk Adjusted Performance | 0.0849 | |||
Jensen Alpha | 0.0307 | |||
Total Risk Alpha | (0.02) | |||
Sortino Ratio | (0.33) | |||
Treynor Ratio | (1.89) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of American High'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.
American High Income Backtested Returns
We consider American High very steady. American High Income secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the fund had a 0.12% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for American High Income, which you can use to evaluate the volatility of the entity. Please confirm American High's risk adjusted performance of 0.0849, and Mean Deviation of 0.1584 to double-check if the risk estimate we provide is consistent with the expected return of 0.024%. The fund shows a Beta (market volatility) of -0.0152, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning American High are expected to decrease at a much lower rate. During the bear market, American High is likely to outperform the market.
Auto-correlation | 0.60 |
Good predictability
American High Income has good predictability. Overlapping area represents the amount of predictability between American High time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 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 American High Income price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current American High price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.6 | |
Spearman Rank Test | 0.83 | |
Residual Average | 0.0 | |
Price Variance | 0.0 |
American High Income lagged returns against current returns
Autocorrelation, which is American High 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 American High's mutual fund expected returns. We can calculate the autocorrelation of American High returns to help us make a trade decision. For example, suppose you find that American High 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 |
American High 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 American High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if American High mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in American High mutual fund over time.
Current vs Lagged Prices |
Timeline |
American High Lagged Returns
When evaluating American High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of American High mutual fund have on its future price. American High 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, American High autocorrelation shows the relationship between American High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in American High Income.
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 American High 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, American High's short interest history, or implied volatility extrapolated from American High options trading.
Pair Trading with American High
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 American High 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 American High will appreciate offsetting losses from the drop in the long position's value.Moving together with American Mutual Fund
0.85 | REJTX | American Funds 2015 | PairCorr |
0.95 | AMFCX | American Mutual Fund | PairCorr |
0.93 | AMFFX | American Mutual Fund | PairCorr |
0.91 | RNCCX | American Funds Income | PairCorr |
Moving against American Mutual Fund
0.46 | RGVAX | Us Government Securities | PairCorr |
0.42 | RGVEX | Us Government Securities | PairCorr |
The ability to find closely correlated positions to American High could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace American High 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 American High - 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 American High Income to buy it.
The correlation of American High 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 American High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American High Income 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 American High 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.Check out American High Correlation, American High Volatility and American High Alpha and Beta module to complement your research on American High. Note that the American High Income information on this page should be used as a complementary analysis to other American High's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Complementary Tools for American Mutual Fund analysis
When running American High's price analysis, check to measure American High's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy American High is operating at the current time. Most of American High's value examination focuses on studying past and present price action to predict the probability of American High's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move American High's price. Additionally, you may evaluate how the addition of American High to your portfolios can decrease your overall portfolio volatility.
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American High 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.