State Gas (Australia) Market Value
| GAS Stock | 0.06 0 5.66% |
| Symbol | State |
State Gas '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 State Gas' 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 State Gas.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in State Gas on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding State Gas or generate 0.0% return on investment in State Gas over 360 days. State Gas is related to or competes with Viva Leisure, Aurelia Metals, and Super Retail. State Gas is entity of Australia. It is traded as Stock on AU exchange. More
State Gas 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 State Gas' 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 State Gas upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.83 | |||
| Information Ratio | 0.0639 | |||
| Maximum Drawdown | 30.84 | |||
| Value At Risk | (8.62) | |||
| Potential Upside | 8.89 |
State Gas Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for State Gas' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as State Gas' standard deviation. In reality, there are many statistical measures that can use State Gas historical prices to predict the future State Gas' volatility.| Risk Adjusted Performance | 0.0731 | |||
| Jensen Alpha | 0.5048 | |||
| Total Risk Alpha | (0.41) | |||
| Sortino Ratio | 0.0572 | |||
| Treynor Ratio | 129.55 |
State Gas Backtested Returns
State Gas appears to be out of control, given 3 months investment horizon. State Gas owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0848, which indicates the firm had a 0.0848% return per unit of risk over the last 3 months. By inspecting State Gas' technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please review State Gas' Risk Adjusted Performance of 0.0731, coefficient of variation of 1187.71, and Semi Deviation of 4.78 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, State Gas holds a performance score of 6. The entity has a beta of 0.0039, which indicates not very significant fluctuations relative to the market. As returns on the market increase, State Gas' returns are expected to increase less than the market. However, during the bear market, the loss of holding State Gas is expected to be smaller as well. Please check State Gas' market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to make a quick decision on whether State Gas' existing price patterns will revert.
Auto-correlation | 0.48 |
Average predictability
State Gas has average predictability. Overlapping area represents the amount of predictability between State Gas time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd 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 State Gas price movement. The serial correlation of 0.48 indicates that about 48.0% of current State Gas price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
State Gas lagged returns against current returns
Autocorrelation, which is State Gas 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 State Gas' stock expected returns. We can calculate the autocorrelation of State Gas returns to help us make a trade decision. For example, suppose you find that State Gas 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 |
State Gas 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 State Gas stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if State Gas stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in State Gas stock over time.
Current vs Lagged Prices |
| Timeline |
State Gas Lagged Returns
When evaluating State Gas' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of State Gas stock have on its future price. State Gas 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, State Gas autocorrelation shows the relationship between State Gas stock current value and its past values and can show if there is a momentum factor associated with investing in State Gas.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for State Stock Analysis
When running State Gas' price analysis, check to measure State Gas' 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 State Gas is operating at the current time. Most of State Gas' value examination focuses on studying past and present price action to predict the probability of State Gas' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move State Gas' price. Additionally, you may evaluate how the addition of State Gas to your portfolios can decrease your overall portfolio volatility.