PRECISION DRILLING (Germany) Market Value
| PRE1 Stock | EUR 40.00 0.60 1.48% |
| Symbol | PRECISION |
PRECISION DRILLING '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 PRECISION DRILLING'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 PRECISION DRILLING.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in PRECISION DRILLING on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding PRECISION DRILLING P or generate 0.0% return on investment in PRECISION DRILLING over 90 days. PRECISION DRILLING is related to or competes with CODERE ONLINE, Salesforce, Perseus Mining, Harmony Gold, ANGLO ASIAN, and BOS BETTER. Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products... More
PRECISION DRILLING 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 PRECISION DRILLING'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 PRECISION DRILLING P upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 14.8 | |||
| Value At Risk | (3.20) | |||
| Potential Upside | 3.25 |
PRECISION DRILLING Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PRECISION DRILLING's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PRECISION DRILLING's standard deviation. In reality, there are many statistical measures that can use PRECISION DRILLING historical prices to predict the future PRECISION DRILLING's volatility.| Risk Adjusted Performance | (0.19) | |||
| Jensen Alpha | (0.49) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | (1.76) |
PRECISION DRILLING Backtested Returns
PRECISION DRILLING maintains Sharpe Ratio (i.e., Efficiency) of -0.23, which implies the firm had a -0.23 % return per unit of risk over the last 3 months. PRECISION DRILLING exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PRECISION DRILLING's Mean Deviation of 1.73, risk adjusted performance of (0.19), and Coefficient Of Variation of (454.68) to confirm the risk estimate we provide. The company holds a Beta of 0.29, which implies not very significant fluctuations relative to the market. As returns on the market increase, PRECISION DRILLING's returns are expected to increase less than the market. However, during the bear market, the loss of holding PRECISION DRILLING is expected to be smaller as well. At this point, PRECISION DRILLING has a negative expected return of -0.53%. Please make sure to check PRECISION DRILLING's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if PRECISION DRILLING performance from the past will be repeated at future time.
Auto-correlation | -0.25 |
Weak reverse predictability
PRECISION DRILLING P has weak reverse predictability. Overlapping area represents the amount of predictability between PRECISION DRILLING time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of PRECISION DRILLING price movement. The serial correlation of -0.25 indicates that over 25.0% of current PRECISION DRILLING price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.25 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 27.21 |
PRECISION DRILLING lagged returns against current returns
Autocorrelation, which is PRECISION DRILLING 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 PRECISION DRILLING's stock expected returns. We can calculate the autocorrelation of PRECISION DRILLING returns to help us make a trade decision. For example, suppose you find that PRECISION DRILLING 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 |
PRECISION DRILLING 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 PRECISION DRILLING stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PRECISION DRILLING stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PRECISION DRILLING stock over time.
Current vs Lagged Prices |
| Timeline |
PRECISION DRILLING Lagged Returns
When evaluating PRECISION DRILLING's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PRECISION DRILLING stock have on its future price. PRECISION DRILLING 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, PRECISION DRILLING autocorrelation shows the relationship between PRECISION DRILLING stock current value and its past values and can show if there is a momentum factor associated with investing in PRECISION DRILLING P.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in PRECISION Stock
PRECISION DRILLING financial ratios help investors to determine whether PRECISION 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 PRECISION with respect to the benefits of owning PRECISION DRILLING security.