Altern Energy (Pakistan) Market Value
| ALTN Stock | 23.00 0.19 0.83% |
| Symbol | Altern |
Altern Energy '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 Altern Energy'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 Altern Energy.
| 12/05/2024 |
| 01/04/2025 |
If you would invest 0.00 in Altern Energy on December 5, 2024 and sell it all today you would earn a total of 0.00 from holding Altern Energy or generate 0.0% return on investment in Altern Energy over 30 days. Altern Energy is related to or competes with Avanceon, Matco Foods, Unilever Pakistan, Hi Tech, Oil, and National Foods. More
Altern Energy 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 Altern Energy'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 Altern Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.14 | |||
| Information Ratio | 0.1956 | |||
| Maximum Drawdown | 14.7 | |||
| Value At Risk | (2.62) | |||
| Potential Upside | 4.81 |
Altern Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Altern Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Altern Energy's standard deviation. In reality, there are many statistical measures that can use Altern Energy historical prices to predict the future Altern Energy's volatility.| Risk Adjusted Performance | 0.1727 | |||
| Jensen Alpha | 0.5101 | |||
| Total Risk Alpha | 0.4642 | |||
| Sortino Ratio | 0.2287 | |||
| Treynor Ratio | (0.79) |
Altern Energy Backtested Returns
Altern Energy appears to be very steady, given 3 months investment horizon. Altern Energy 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-nine technical indicators for Altern Energy, which you can use to evaluate the volatility of the firm. Please makes use of Altern Energy's Mean Deviation of 1.68, risk adjusted performance of 0.1727, and Downside Deviation of 2.14 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Altern Energy holds a performance score of 14. The firm shows a Beta (market volatility) of -0.64, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Altern Energy are expected to decrease at a much lower rate. During the bear market, Altern Energy is likely to outperform the market. Please check Altern Energy's total risk alpha, treynor ratio, value at risk, as well as the relationship between the sortino ratio and maximum drawdown , to make a quick decision on whether Altern Energy's price patterns will revert.
Auto-correlation | 0.78 |
Good predictability
Altern Energy has good predictability. Overlapping area represents the amount of predictability between Altern Energy time series from 5th of December 2024 to 20th of December 2024 and 20th of December 2024 to 4th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Altern Energy price movement. The serial correlation of 0.78 indicates that around 78.0% of current Altern Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 0.99 |
Altern Energy lagged returns against current returns
Autocorrelation, which is Altern Energy 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 Altern Energy's stock expected returns. We can calculate the autocorrelation of Altern Energy returns to help us make a trade decision. For example, suppose you find that Altern Energy 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 |
Altern Energy 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 Altern Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Altern Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Altern Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Altern Energy Lagged Returns
When evaluating Altern Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Altern Energy stock have on its future price. Altern Energy 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, Altern Energy autocorrelation shows the relationship between Altern Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Altern Energy.
Regressed Prices |
| Timeline |
Pair Trading with Altern Energy
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 Altern Energy 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 Altern Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Altern Stock
| 0.7 | HBL | Habib Bank | PairCorr |
| 0.85 | UBL | United Bank | PairCorr |
| 0.72 | MCB | MCB Bank | PairCorr |
| 0.64 | ABL | Allied Bank | PairCorr |
The ability to find closely correlated positions to Altern Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Altern Energy 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 Altern Energy - 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 Altern Energy to buy it.
The correlation of Altern Energy 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 Altern Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Altern Energy 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 Altern Energy 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 Altern Stock
Altern Energy financial ratios help investors to determine whether Altern 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 Altern with respect to the benefits of owning Altern Energy security.