Athabasca Oil Corp Stock Market Value
| ATH Stock | CAD 5.14 0.01 0.19% |
| Symbol | Athabasca |
Athabasca Oil Corp Price To Book Ratio
Athabasca 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 Athabasca 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 Athabasca Oil.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Athabasca Oil on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Athabasca Oil Corp or generate 0.0% return on investment in Athabasca Oil over 30 days. Athabasca Oil is related to or competes with Baytex Energy, Tamarack Valley, MEG Energy, Cardinal Energy, and Whitecap Resources. Athabasca Oil Corporation engages in the exploration, development, and production of light and thermal oil resource play... More
Athabasca 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 Athabasca 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 Athabasca Oil Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 7.82 | |||
| Value At Risk | (3.63) | |||
| Potential Upside | 3.13 |
Athabasca Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Athabasca Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Athabasca Oil's standard deviation. In reality, there are many statistical measures that can use Athabasca Oil historical prices to predict the future Athabasca Oil's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | (0.20) |
Athabasca Oil Corp Backtested Returns
As of now, Athabasca Stock is somewhat reliable. Athabasca Oil Corp secures Sharpe Ratio (or Efficiency) of 0.0068, which signifies that the company had a 0.0068% return per unit of standard deviation over the last 3 months. We have found twenty-two technical indicators for Athabasca Oil Corp, which you can use to evaluate the volatility of the firm. Please confirm Athabasca Oil's mean deviation of 1.68, and Risk Adjusted Performance of (0.02) to double-check if the risk estimate we provide is consistent with the expected return of 0.0136%. The firm shows a Beta (market volatility) of 0.34, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Athabasca Oil's returns are expected to increase less than the market. However, during the bear market, the loss of holding Athabasca Oil is expected to be smaller as well. Athabasca Oil Corp right now shows a risk of 2.0%. Please confirm Athabasca Oil Corp information ratio, skewness, day typical price, as well as the relationship between the treynor ratio and daily balance of power , to decide if Athabasca Oil Corp will be following its price patterns.
Auto-correlation | 0.67 |
Good predictability
Athabasca Oil Corp has good predictability. Overlapping area represents the amount of predictability between Athabasca Oil time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 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 Athabasca Oil Corp price movement. The serial correlation of 0.67 indicates that around 67.0% of current Athabasca Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Athabasca Oil Corp lagged returns against current returns
Autocorrelation, which is Athabasca 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 Athabasca Oil's stock expected returns. We can calculate the autocorrelation of Athabasca Oil returns to help us make a trade decision. For example, suppose you find that Athabasca 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 |
Athabasca 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 Athabasca Oil stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Athabasca Oil stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Athabasca Oil stock over time.
Current vs Lagged Prices |
| Timeline |
Athabasca Oil Lagged Returns
When evaluating Athabasca Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Athabasca Oil stock have on its future price. Athabasca 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, Athabasca Oil autocorrelation shows the relationship between Athabasca Oil stock current value and its past values and can show if there is a momentum factor associated with investing in Athabasca Oil Corp.
Regressed Prices |
| Timeline |
Pair Trading with Athabasca 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 Athabasca 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 Athabasca Oil will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Athabasca 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 Athabasca 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 Athabasca 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 Athabasca Oil Corp to buy it.
The correlation of Athabasca 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 Athabasca Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Athabasca Oil Corp 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 Athabasca 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 Athabasca Stock
Athabasca Oil financial ratios help investors to determine whether Athabasca 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 Athabasca with respect to the benefits of owning Athabasca Oil security.