Advantage Oil Gas Stock Market Value
| AAV Stock | CAD 9.00 0.11 1.24% |
| Symbol | Advantage |
Advantage Oil Gas Price To Book Ratio
Advantage Oil '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 Advantage Oil's stock 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 Advantage Oil.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in Advantage Oil on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding Advantage Oil Gas or generate 0.0% return on investment in Advantage Oil over 360 days. Advantage Oil is related to or competes with Birchcliff Energy, NuVista Energy, Kelt Exploration, and Peyto ExplorationDevel. Advantage Energy Ltd., together with its subsidiaries, acquires, exploits, develops, and produces crude oil, natural gas... More
Advantage Oil 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 Advantage Oil's stock 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 Advantage Oil Gas upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 10.28 | |||
| Value At Risk | (3.26) | |||
| Potential Upside | 3.11 |
Advantage Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Advantage Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Advantage Oil's standard deviation. In reality, there are many statistical measures that can use Advantage Oil historical prices to predict the future Advantage Oil's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (0.19) |
Advantage Oil Gas Backtested Returns
Advantage Oil Gas secures Sharpe Ratio (or Efficiency) of -0.0143, which signifies that the company had a -0.0143% return per unit of risk over the last 3 months. Advantage Oil Gas exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Advantage Oil's Risk Adjusted Performance of (0.02), mean deviation of 1.59, and Standard Deviation of 2.17 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.46, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Advantage Oil's returns are expected to increase less than the market. However, during the bear market, the loss of holding Advantage Oil is expected to be smaller as well. At this point, Advantage Oil Gas has a negative expected return of -0.0305%. Please make sure to confirm Advantage Oil's skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if Advantage Oil Gas performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.76 |
Almost perfect reverse predictability
Advantage Oil Gas has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Advantage Oil time series from 8th of December 2023 to 5th of June 2024 and 5th of June 2024 to 2nd 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 Advantage Oil Gas price movement. The serial correlation of -0.76 indicates that around 76.0% of current Advantage Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.76 | |
| Spearman Rank Test | -0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 0.4 |
Advantage Oil Gas lagged returns against current returns
Autocorrelation, which is Advantage Oil stock'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 Advantage Oil's stock expected returns. We can calculate the autocorrelation of Advantage Oil returns to help us make a trade decision. For example, suppose you find that Advantage Oil has exhibited high autocorrelation historically, and you observe that the stock 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 |
Advantage Oil 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 Advantage Oil stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Advantage Oil stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Advantage Oil stock over time.
Current vs Lagged Prices |
| Timeline |
Advantage Oil Lagged Returns
When evaluating Advantage Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Advantage Oil stock have on its future price. Advantage Oil 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, Advantage Oil autocorrelation shows the relationship between Advantage Oil stock current value and its past values and can show if there is a momentum factor associated with investing in Advantage Oil Gas.
Regressed Prices |
| Timeline |
Pair Trading with Advantage Oil
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 Advantage Oil 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 Advantage Oil will appreciate offsetting losses from the drop in the long position's value.Moving against Advantage Stock
The ability to find closely correlated positions to Advantage Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Advantage Oil 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 Advantage Oil - 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 Advantage Oil Gas to buy it.
The correlation of Advantage Oil 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 Advantage Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advantage Oil Gas 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 Advantage Oil 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.Other Information on Investing in Advantage Stock
Advantage Oil financial ratios help investors to determine whether Advantage Stock 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 Advantage with respect to the benefits of owning Advantage Oil security.