Petrolimex International (Vietnam) Market Value
| PIT Stock | 5,400 70.00 1.28% |
| Symbol | Petrolimex |
Petrolimex International '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 Petrolimex International'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 Petrolimex International.
| 11/26/2024 |
| 12/26/2024 |
If you would invest 0.00 in Petrolimex International on November 26, 2024 and sell it all today you would earn a total of 0.00 from holding Petrolimex International Trading or generate 0.0% return on investment in Petrolimex International over 30 days. Petrolimex International is related to or competes with FIT INVEST, Damsan JSC, An Phat, Alphanam, APG Securities, Binhthuan Agriculture, and Mekong Fisheries. More
Petrolimex International 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 Petrolimex International'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 Petrolimex International Trading upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 10.92 | |||
| Value At Risk | (3.41) | |||
| Potential Upside | 4.4 |
Petrolimex International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Petrolimex International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Petrolimex International's standard deviation. In reality, there are many statistical measures that can use Petrolimex International historical prices to predict the future Petrolimex International's volatility.| Risk Adjusted Performance | 0.0051 | |||
| Jensen Alpha | 0.0024 | |||
| Total Risk Alpha | (0.11) | |||
| Treynor Ratio | 0.0296 |
Petrolimex International Backtested Returns
Petrolimex International maintains Sharpe Ratio (i.e., Efficiency) of -0.0279, which implies the firm had a -0.0279% return per unit of risk over the last 3 months. Petrolimex International exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Petrolimex International's Risk Adjusted Performance of 0.0051, coefficient of variation of (59,746), and Variance of 4.93 to confirm the risk estimate we provide. The company holds a Beta of -0.46, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Petrolimex International are expected to decrease at a much lower rate. During the bear market, Petrolimex International is likely to outperform the market. At this point, Petrolimex International has a negative expected return of -0.0626%. Please make sure to check Petrolimex International's treynor ratio, daily balance of power, as well as the relationship between the Daily Balance Of Power and price action indicator , to decide if Petrolimex International performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Petrolimex International Trading has insignificant reverse predictability. Overlapping area represents the amount of predictability between Petrolimex International time series from 26th of November 2024 to 11th of December 2024 and 11th of December 2024 to 26th 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 Petrolimex International price movement. The serial correlation of -0.12 indicates that less than 12.0% of current Petrolimex International price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | 0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 4809.0 |
Petrolimex International lagged returns against current returns
Autocorrelation, which is Petrolimex International 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 Petrolimex International's stock expected returns. We can calculate the autocorrelation of Petrolimex International returns to help us make a trade decision. For example, suppose you find that Petrolimex International 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 |
Petrolimex International 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 Petrolimex International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Petrolimex International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Petrolimex International stock over time.
Current vs Lagged Prices |
| Timeline |
Petrolimex International Lagged Returns
When evaluating Petrolimex International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Petrolimex International stock have on its future price. Petrolimex International 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, Petrolimex International autocorrelation shows the relationship between Petrolimex International stock current value and its past values and can show if there is a momentum factor associated with investing in Petrolimex International Trading.
Regressed Prices |
| Timeline |
Pair Trading with Petrolimex International
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 Petrolimex International 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 Petrolimex International will appreciate offsetting losses from the drop in the long position's value.Moving against Petrolimex Stock
The ability to find closely correlated positions to Petrolimex International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Petrolimex International 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 Petrolimex International - 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 Petrolimex International Trading to buy it.
The correlation of Petrolimex International 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 Petrolimex International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Petrolimex International 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 Petrolimex International 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 Petrolimex Stock
Petrolimex International financial ratios help investors to determine whether Petrolimex 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 Petrolimex with respect to the benefits of owning Petrolimex International security.