Artistic Denim (Pakistan) Market Value
| ADMM Stock | 47.06 0.11 0.23% |
| Symbol | Artistic |
Artistic Denim '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 Artistic Denim'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 Artistic Denim.
| 09/29/2024 |
| 12/28/2024 |
If you would invest 0.00 in Artistic Denim on September 29, 2024 and sell it all today you would earn a total of 0.00 from holding Artistic Denim Mills or generate 0.0% return on investment in Artistic Denim over 90 days. Artistic Denim is related to or competes with Pakistan State, K Electric, Oil, Lucky Cement, Engro, Indus, and National Refinery. More
Artistic Denim 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 Artistic Denim'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 Artistic Denim Mills upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.43 | |||
| Information Ratio | 0.0825 | |||
| Maximum Drawdown | 13.13 | |||
| Value At Risk | (2.42) | |||
| Potential Upside | 3.42 |
Artistic Denim Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Artistic Denim's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Artistic Denim's standard deviation. In reality, there are many statistical measures that can use Artistic Denim historical prices to predict the future Artistic Denim's volatility.| Risk Adjusted Performance | 0.0835 | |||
| Jensen Alpha | 0.2041 | |||
| Total Risk Alpha | 0.1469 | |||
| Sortino Ratio | 0.0775 | |||
| Treynor Ratio | 0.7398 |
Artistic Denim Mills Backtested Returns
Artistic Denim appears to be very steady, given 3 months investment horizon. Artistic Denim Mills secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Artistic Denim Mills, which you can use to evaluate the volatility of the firm. Please makes use of Artistic Denim's Risk Adjusted Performance of 0.0835, downside deviation of 2.43, and Mean Deviation of 1.55 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Artistic Denim holds a performance score of 14. The firm shows a Beta (market volatility) of 0.28, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Artistic Denim's returns are expected to increase less than the market. However, during the bear market, the loss of holding Artistic Denim is expected to be smaller as well. Please check Artistic Denim's treynor ratio, value at risk, and the relationship between the sortino ratio and maximum drawdown , to make a quick decision on whether Artistic Denim's price patterns will revert.
Auto-correlation | 0.52 |
Modest predictability
Artistic Denim Mills has modest predictability. Overlapping area represents the amount of predictability between Artistic Denim time series from 29th of September 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Artistic Denim Mills price movement. The serial correlation of 0.52 indicates that about 52.0% of current Artistic Denim price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 6.29 |
Artistic Denim Mills lagged returns against current returns
Autocorrelation, which is Artistic Denim 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 Artistic Denim's stock expected returns. We can calculate the autocorrelation of Artistic Denim returns to help us make a trade decision. For example, suppose you find that Artistic Denim 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 |
Artistic Denim 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 Artistic Denim stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Artistic Denim stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Artistic Denim stock over time.
Current vs Lagged Prices |
| Timeline |
Artistic Denim Lagged Returns
When evaluating Artistic Denim's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Artistic Denim stock have on its future price. Artistic Denim 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, Artistic Denim autocorrelation shows the relationship between Artistic Denim stock current value and its past values and can show if there is a momentum factor associated with investing in Artistic Denim Mills.
Regressed Prices |
| Timeline |
Pair Trading with Artistic Denim
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 Artistic Denim 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 Artistic Denim will appreciate offsetting losses from the drop in the long position's value.Moving together with Artistic Stock
| 0.78 | HBL | Habib Bank | PairCorr |
| 0.83 | UBL | United Bank | PairCorr |
| 0.72 | MCB | MCB Bank | PairCorr |
| 0.78 | ABL | Allied Bank | PairCorr |
The ability to find closely correlated positions to Artistic Denim could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Artistic Denim 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 Artistic Denim - 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 Artistic Denim Mills to buy it.
The correlation of Artistic Denim 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 Artistic Denim moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Artistic Denim Mills 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 Artistic Denim 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 Artistic Stock
Artistic Denim financial ratios help investors to determine whether Artistic 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 Artistic with respect to the benefits of owning Artistic Denim security.