PAX Global (Germany) Market Value
| P8X Stock | EUR 0.62 0.01 1.59% |
| Symbol | PAX |
PAX Global '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 PAX Global'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 PAX Global.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in PAX Global on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding PAX Global Technology or generate 0.0% return on investment in PAX Global over 30 days. PAX Global is related to or competes with Amkor Technology, SMA Solar, Vishay Intertechnology, Check Point, Virtus Investment, ECHO INVESTMENT, and Computer. PAX Global Technology Limited, an investment holding company, engages in the development and sale of electronic funds tr... More
PAX Global 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 PAX Global'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 PAX Global Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.98 | |||
| Information Ratio | 0.0697 | |||
| Maximum Drawdown | 47.82 | |||
| Value At Risk | (10.53) | |||
| Potential Upside | 16.07 |
PAX Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PAX Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PAX Global's standard deviation. In reality, there are many statistical measures that can use PAX Global historical prices to predict the future PAX Global's volatility.| Risk Adjusted Performance | 0.0698 | |||
| Jensen Alpha | 0.6828 | |||
| Total Risk Alpha | (0.30) | |||
| Sortino Ratio | 0.0707 | |||
| Treynor Ratio | (0.53) |
PAX Global Technology Backtested Returns
PAX Global appears to be out of control, given 3 months investment horizon. PAX Global Technology maintains Sharpe Ratio (i.e., Efficiency) of 0.0929, which implies the company had a 0.0929% return per unit of standard deviation over the last 3 months. By inspecting PAX Global's technical indicators, you can evaluate if the expected return of 0.66% is justified by implied risk. Please evaluate PAX Global's Mean Deviation of 4.3, coefficient of variation of 1192.49, and Market Risk Adjusted Performance of (0.52) to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, PAX Global holds a performance score of 7. The firm holds a Beta of -1.1, which implies a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning PAX Global are expected to decrease slowly. On the other hand, during market turmoil, PAX Global is expected to outperform it slightly. Please check PAX Global's value at risk, expected short fall, rate of daily change, as well as the relationship between the downside variance and kurtosis , to make a quick decision on whether PAX Global's historical price patterns will revert.
Auto-correlation | -0.09 |
Very weak reverse predictability
PAX Global Technology has very weak reverse predictability. Overlapping area represents the amount of predictability between PAX Global time series from 15th of November 2024 to 30th of November 2024 and 30th 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 PAX Global Technology price movement. The serial correlation of -0.09 indicates that less than 9.0% of current PAX Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | -0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
PAX Global Technology lagged returns against current returns
Autocorrelation, which is PAX Global 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 PAX Global's stock expected returns. We can calculate the autocorrelation of PAX Global returns to help us make a trade decision. For example, suppose you find that PAX Global 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 |
PAX Global 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 PAX Global stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PAX Global stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PAX Global stock over time.
Current vs Lagged Prices |
| Timeline |
PAX Global Lagged Returns
When evaluating PAX Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PAX Global stock have on its future price. PAX Global 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, PAX Global autocorrelation shows the relationship between PAX Global stock current value and its past values and can show if there is a momentum factor associated with investing in PAX Global Technology.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in PAX Stock
PAX Global financial ratios help investors to determine whether PAX 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 PAX with respect to the benefits of owning PAX Global security.