Occidental Petroleum (Brazil) Market Value
| OXYP34 Stock | BRL 48.08 0.40 0.83% |
| Symbol | Occidental |
Occidental Petroleum '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 Occidental Petroleum'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 Occidental Petroleum.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Occidental Petroleum on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Occidental Petroleum or generate 0.0% return on investment in Occidental Petroleum over 30 days. Occidental Petroleum is related to or competes with ConocoPhillips, EOG Resources, Devon Energy, H1ES34, APA, and Petro Rio. Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and developme... More
Occidental Petroleum 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 Occidental Petroleum'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 Occidental Petroleum upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.84 | |||
| Information Ratio | 0.0087 | |||
| Maximum Drawdown | 8.77 | |||
| Value At Risk | (2.91) | |||
| Potential Upside | 3.16 |
Occidental Petroleum Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Occidental Petroleum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Occidental Petroleum's standard deviation. In reality, there are many statistical measures that can use Occidental Petroleum historical prices to predict the future Occidental Petroleum's volatility.| Risk Adjusted Performance | 0.0271 | |||
| Jensen Alpha | 0.0459 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.0082 | |||
| Treynor Ratio | (0.09) |
Occidental Petroleum Backtested Returns
At this point, Occidental Petroleum is very steady. Occidental Petroleum maintains Sharpe Ratio (i.e., Efficiency) of 0.011, which implies the firm had a 0.011% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Occidental Petroleum, which you can use to evaluate the volatility of the company. Please check Occidental Petroleum's Semi Deviation of 1.76, coefficient of variation of 3658.95, and Risk Adjusted Performance of 0.0271 to confirm if the risk estimate we provide is consistent with the expected return of 0.0192%. The company holds a Beta of -0.39, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Occidental Petroleum are expected to decrease at a much lower rate. During the bear market, Occidental Petroleum is likely to outperform the market. Occidental Petroleum right now holds a risk of 1.75%. Please check Occidental Petroleum total risk alpha, value at risk, and the relationship between the standard deviation and treynor ratio , to decide if Occidental Petroleum will be following its historical price patterns.
Auto-correlation | 0.31 |
Below average predictability
Occidental Petroleum has below average predictability. Overlapping area represents the amount of predictability between Occidental Petroleum time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Occidental Petroleum price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Occidental Petroleum price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Occidental Petroleum lagged returns against current returns
Autocorrelation, which is Occidental Petroleum 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 Occidental Petroleum's stock expected returns. We can calculate the autocorrelation of Occidental Petroleum returns to help us make a trade decision. For example, suppose you find that Occidental Petroleum 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 |
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Occidental Petroleum 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 Occidental Petroleum stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Occidental Petroleum stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Occidental Petroleum stock over time.
Current vs Lagged Prices |
| Timeline |
Occidental Petroleum Lagged Returns
When evaluating Occidental Petroleum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Occidental Petroleum stock have on its future price. Occidental Petroleum 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, Occidental Petroleum autocorrelation shows the relationship between Occidental Petroleum stock current value and its past values and can show if there is a momentum factor associated with investing in Occidental Petroleum.
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.Additional Information and Resources on Investing in Occidental Stock
When determining whether Occidental Petroleum offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Occidental Petroleum's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Occidental Petroleum Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Occidental Petroleum Stock:Check out Occidental Petroleum Correlation, Occidental Petroleum Volatility and Occidental Petroleum Alpha and Beta module to complement your research on Occidental Petroleum. For information on how to trade Occidental Stock refer to our How to Trade Occidental Stock guide.You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Occidental Petroleum technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.