Akita Drilling Stock Market Value
| AKT-A Stock | CAD 1.65 0.03 1.85% |
| Symbol | AKITA |
AKITA Drilling Price To Book Ratio
AKITA Drilling '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 AKITA Drilling'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 AKITA Drilling.
| 06/24/2024 |
| 12/21/2024 |
If you would invest 0.00 in AKITA Drilling on June 24, 2024 and sell it all today you would earn a total of 0.00 from holding AKITA Drilling or generate 0.0% return on investment in AKITA Drilling over 180 days. AKITA Drilling is related to or competes with Trican Well, Calfrac Well, and Birchcliff Energy. AKITA Drilling Ltd. provides contract drilling services in Canada and the United States More
AKITA Drilling 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 AKITA Drilling'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 AKITA Drilling upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.38 | |||
| Information Ratio | 0.0877 | |||
| Maximum Drawdown | 12.24 | |||
| Value At Risk | (3.75) | |||
| Potential Upside | 3.47 |
AKITA Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AKITA Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AKITA Drilling's standard deviation. In reality, there are many statistical measures that can use AKITA Drilling historical prices to predict the future AKITA Drilling's volatility.| Risk Adjusted Performance | 0.0872 | |||
| Jensen Alpha | 0.2164 | |||
| Total Risk Alpha | 0.158 | |||
| Sortino Ratio | 0.0838 | |||
| Treynor Ratio | 0.9335 |
AKITA Drilling Backtested Returns
Currently, AKITA Drilling is risky. AKITA Drilling secures Sharpe Ratio (or Efficiency) of 0.0722, which signifies that the company had a 0.0722% return per unit of return volatility over the last 3 months. We have found twenty-nine technical indicators for AKITA Drilling, which you can use to evaluate the volatility of the firm. Please confirm AKITA Drilling's Semi Deviation of 1.96, mean deviation of 1.66, and Risk Adjusted Performance of 0.0872 to double-check if the risk estimate we provide is consistent with the expected return of 0.16%. AKITA Drilling has a performance score of 5 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.24, which signifies not very significant fluctuations relative to the market. As returns on the market increase, AKITA Drilling's returns are expected to increase less than the market. However, during the bear market, the loss of holding AKITA Drilling is expected to be smaller as well. AKITA Drilling at this time shows a risk of 2.27%. Please confirm AKITA Drilling downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if AKITA Drilling will be following its price patterns.
Auto-correlation | 0.30 |
Below average predictability
AKITA Drilling has below average predictability. Overlapping area represents the amount of predictability between AKITA Drilling time series from 24th of June 2024 to 22nd of September 2024 and 22nd of September 2024 to 21st 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 AKITA Drilling price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current AKITA Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.3 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
AKITA Drilling lagged returns against current returns
Autocorrelation, which is AKITA Drilling 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 AKITA Drilling's stock expected returns. We can calculate the autocorrelation of AKITA Drilling returns to help us make a trade decision. For example, suppose you find that AKITA Drilling 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 |
AKITA Drilling 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 AKITA Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AKITA Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AKITA Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
AKITA Drilling Lagged Returns
When evaluating AKITA Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AKITA Drilling stock have on its future price. AKITA Drilling 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, AKITA Drilling autocorrelation shows the relationship between AKITA Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in AKITA Drilling.
Regressed Prices |
| Timeline |
Pair Trading with AKITA Drilling
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 AKITA Drilling 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 AKITA Drilling will appreciate offsetting losses from the drop in the long position's value.Moving together with AKITA Stock
Moving against AKITA Stock
The ability to find closely correlated positions to AKITA Drilling could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AKITA Drilling 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 AKITA Drilling - 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 AKITA Drilling to buy it.
The correlation of AKITA Drilling 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 AKITA Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AKITA Drilling 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 AKITA Drilling 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.Additional Tools for AKITA Stock Analysis
When running AKITA Drilling's price analysis, check to measure AKITA Drilling'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 AKITA Drilling is operating at the current time. Most of AKITA Drilling's value examination focuses on studying past and present price action to predict the probability of AKITA Drilling's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move AKITA Drilling's price. Additionally, you may evaluate how the addition of AKITA Drilling to your portfolios can decrease your overall portfolio volatility.