Franklin High Yield Fund Market Value
| FHYIX Fund | USD 8.90 0.01 0.11% |
| Symbol | Franklin |
Franklin 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 Franklin 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 Franklin High.
| 04/01/2024 |
| 05/01/2024 |
If you would invest 0.00 in Franklin High on April 1, 2024 and sell it all today you would earn a total of 0.00 from holding Franklin High Yield or generate 0.0% return on investment in Franklin High over 30 days. Franklin High is related to or competes with Nuveen High, Nuveen High, Nuveen High, and Goldman Sachs. The fund invests at least 80 percent of its net assets in securities whose interest is free from federal income taxes, i... More
Franklin 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 Franklin 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 Franklin High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3438 | |||
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 1.57 | |||
| Value At Risk | (0.45) | |||
| Potential Upside | 0.4469 |
Franklin High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Franklin High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Franklin High's standard deviation. In reality, there are many statistical measures that can use Franklin High historical prices to predict the future Franklin High's volatility.| Risk Adjusted Performance | 0.0203 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | 0.0331 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Franklin 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.
Franklin High Yield Backtested Returns
Franklin High Yield secures Sharpe Ratio (or Efficiency) of -0.0815, which denotes the fund had a -0.0815% return per unit of standard deviation over the last 3 months. Franklin High Yield exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Franklin High's Mean Deviation of 0.1655, downside deviation of 0.3438, and Semi Deviation of 0.1928 to check the risk estimate we provide. The fund shows a Beta (market volatility) of 0.12, which means not very significant fluctuations relative to the market. As returns on the market increase, Franklin High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Franklin High is expected to be smaller as well.
Auto-correlation | 0.65 |
Good predictability
Franklin High Yield has good predictability. Overlapping area represents the amount of predictability between Franklin High time series from 1st of April 2024 to 16th of April 2024 and 16th of April 2024 to 1st of May 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 Franklin High Yield price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Franklin High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Franklin High Yield lagged returns against current returns
Autocorrelation, which is Franklin 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 Franklin High's mutual fund expected returns. We can calculate the autocorrelation of Franklin High returns to help us make a trade decision. For example, suppose you find that Franklin 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 |
Franklin 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 Franklin High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Franklin 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 Franklin High mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Franklin High Lagged Returns
When evaluating Franklin High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Franklin High mutual fund have on its future price. Franklin 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, Franklin High autocorrelation shows the relationship between Franklin High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Franklin High Yield.
Regressed Prices |
| Timeline |
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