Oil Equipment Services Fund Market Value
| OEPSX Fund | USD 77.43 1.24 1.58% |
| Symbol | Oil |
Oil Equipment '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 Oil Equipment's mutual fund 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 Oil Equipment.
| 10/16/2024 |
| 12/15/2024 |
If you would invest 0.00 in Oil Equipment on October 16, 2024 and sell it all today you would earn a total of 0.00 from holding Oil Equipment Services or generate 0.0% return on investment in Oil Equipment over 60 days. Oil Equipment is related to or competes with Fidelity Small, Vanguard Small, Palm Valley, Fpa Queens, Heartland Value, John Hancock, and Queens Road. The fund invests in financial instruments that the fund Advisors believes, in combination, should produce daily returns ... More
Oil Equipment 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 Oil Equipment's mutual fund 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 Oil Equipment Services upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.97 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 20.3 | |||
| Value At Risk | (5.32) | |||
| Potential Upside | 4.28 |
Oil Equipment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oil Equipment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oil Equipment's standard deviation. In reality, there are many statistical measures that can use Oil Equipment historical prices to predict the future Oil Equipment's volatility.| Risk Adjusted Performance | 0.0283 | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.31) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | 0.0393 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Oil Equipment's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Oil Equipment Services Backtested Returns
At this stage we consider Oil Mutual Fund to be very steady. Oil Equipment Services maintains Sharpe Ratio (i.e., Efficiency) of 0.0066, which implies the entity had a 0.0066% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Oil Equipment Services, which you can use to evaluate the volatility of the fund. Please check Oil Equipment's Coefficient Of Variation of 3523.92, semi deviation of 2.72, and Risk Adjusted Performance of 0.0283 to confirm if the risk estimate we provide is consistent with the expected return of 0.0204%. The fund holds a Beta of 2.01, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Oil Equipment will likely underperform.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
Oil Equipment Services has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Oil Equipment time series from 16th of October 2024 to 15th of November 2024 and 15th of November 2024 to 15th 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 Oil Equipment Services price movement. The serial correlation of -0.78 indicates that around 78.0% of current Oil Equipment price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 10.85 |
Oil Equipment Services lagged returns against current returns
Autocorrelation, which is Oil Equipment mutual fund'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 Oil Equipment's mutual fund expected returns. We can calculate the autocorrelation of Oil Equipment returns to help us make a trade decision. For example, suppose you find that Oil Equipment has exhibited high autocorrelation historically, and you observe that the mutual fund 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 |
Oil Equipment 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 Oil Equipment mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oil Equipment mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oil Equipment mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Oil Equipment Lagged Returns
When evaluating Oil Equipment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oil Equipment mutual fund have on its future price. Oil Equipment 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, Oil Equipment autocorrelation shows the relationship between Oil Equipment mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Oil Equipment Services.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Oil Mutual Fund
Oil Equipment financial ratios help investors to determine whether Oil Mutual Fund 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 Oil with respect to the benefits of owning Oil Equipment security.
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