Pason Systems Stock Market Value
| PSI Stock | CAD 14.17 0.12 0.84% |
| Symbol | Pason |
Pason Systems Price To Book Ratio
Pason Systems '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 Pason Systems' 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 Pason Systems.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Pason Systems on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Pason Systems or generate 0.0% return on investment in Pason Systems over 30 days. Pason Systems is related to or competes with Enerflex, Mullen, Secure Energy, and Ensign Energy. Pason Systems Inc. provides instrumentation and data management systems for drilling rigs More
Pason Systems 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 Pason Systems' 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 Pason Systems upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.68 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 11.17 | |||
| Value At Risk | (2.56) | |||
| Potential Upside | 2.46 |
Pason Systems Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pason Systems' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pason Systems' standard deviation. In reality, there are many statistical measures that can use Pason Systems historical prices to predict the future Pason Systems' volatility.| Risk Adjusted Performance | 0.0192 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.27) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.0992 |
Pason Systems Backtested Returns
As of now, Pason Stock is not too volatile. Pason Systems maintains Sharpe Ratio (i.e., Efficiency) of 0.0237, which implies the firm had a 0.0237% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Pason Systems, which you can use to evaluate the volatility of the company. Please check Pason Systems' Coefficient Of Variation of 5634.31, risk adjusted performance of 0.0192, and Semi Deviation of 1.64 to confirm if the risk estimate we provide is consistent with the expected return of 0.042%. Pason Systems has a performance score of 1 on a scale of 0 to 100. The company holds a Beta of 0.21, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pason Systems' returns are expected to increase less than the market. However, during the bear market, the loss of holding Pason Systems is expected to be smaller as well. Pason Systems right now holds a risk of 1.77%. Please check Pason Systems expected short fall, and the relationship between the value at risk and daily balance of power , to decide if Pason Systems will be following its historical price patterns.
Auto-correlation | -0.35 |
Poor reverse predictability
Pason Systems has poor reverse predictability. Overlapping area represents the amount of predictability between Pason Systems time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Pason Systems price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Pason Systems price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Pason Systems lagged returns against current returns
Autocorrelation, which is Pason Systems 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 Pason Systems' stock expected returns. We can calculate the autocorrelation of Pason Systems returns to help us make a trade decision. For example, suppose you find that Pason Systems 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 |
Pason Systems 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 Pason Systems stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pason Systems stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pason Systems stock over time.
Current vs Lagged Prices |
| Timeline |
Pason Systems Lagged Returns
When evaluating Pason Systems' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pason Systems stock have on its future price. Pason Systems 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, Pason Systems autocorrelation shows the relationship between Pason Systems stock current value and its past values and can show if there is a momentum factor associated with investing in Pason Systems.
Regressed Prices |
| Timeline |
Pair Trading with Pason Systems
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 Pason Systems 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 Pason Systems will appreciate offsetting losses from the drop in the long position's value.Moving together with Pason Stock
Moving against Pason Stock
The ability to find closely correlated positions to Pason Systems could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pason Systems 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 Pason Systems - 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 Pason Systems to buy it.
The correlation of Pason Systems 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 Pason Systems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pason Systems 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 Pason Systems 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 Pason Stock
Pason Systems financial ratios help investors to determine whether Pason 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 Pason with respect to the benefits of owning Pason Systems security.