PetroVietnam Drilling (Vietnam) Market Value
| PVD Stock | 23,900 300.00 1.24% |
| Symbol | PetroVietnam |
PetroVietnam 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 PetroVietnam 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 PetroVietnam Drilling.
| 06/25/2024 |
| 12/22/2024 |
If you would invest 0.00 in PetroVietnam Drilling on June 25, 2024 and sell it all today you would earn a total of 0.00 from holding PetroVietnam Drilling Well or generate 0.0% return on investment in PetroVietnam Drilling over 180 days. PetroVietnam Drilling is related to or competes with FIT INVEST, Damsan JSC, An Phat, Alphanam, APG Securities, Binhthuan Agriculture, and Mekong Fisheries. More
PetroVietnam 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 PetroVietnam 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 PetroVietnam Drilling Well upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 7.14 | |||
| Value At Risk | (1.88) | |||
| Potential Upside | 1.72 |
PetroVietnam Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PetroVietnam Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PetroVietnam Drilling's standard deviation. In reality, there are many statistical measures that can use PetroVietnam Drilling historical prices to predict the future PetroVietnam Drilling's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | 0.5548 |
PetroVietnam Drilling Backtested Returns
PetroVietnam Drilling maintains Sharpe Ratio (i.e., Efficiency) of -0.13, which implies the firm had a -0.13% return per unit of risk over the last 3 months. PetroVietnam Drilling exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PetroVietnam Drilling's Risk Adjusted Performance of (0.10), coefficient of variation of (737.98), and Variance of 1.74 to confirm the risk estimate we provide. The company holds a Beta of -0.34, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning PetroVietnam Drilling are expected to decrease at a much lower rate. During the bear market, PetroVietnam Drilling is likely to outperform the market. At this point, PetroVietnam Drilling has a negative expected return of -0.17%. Please make sure to check PetroVietnam Drilling's value at risk, accumulation distribution, as well as the relationship between the Accumulation Distribution and day typical price , to decide if PetroVietnam Drilling performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.79 |
Good predictability
PetroVietnam Drilling Well has good predictability. Overlapping area represents the amount of predictability between PetroVietnam Drilling time series from 25th of June 2024 to 23rd of September 2024 and 23rd of September 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 PetroVietnam Drilling price movement. The serial correlation of 0.79 indicates that around 79.0% of current PetroVietnam Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.79 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 2.6 M |
PetroVietnam Drilling lagged returns against current returns
Autocorrelation, which is PetroVietnam 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 PetroVietnam Drilling's stock expected returns. We can calculate the autocorrelation of PetroVietnam Drilling returns to help us make a trade decision. For example, suppose you find that PetroVietnam 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 |
PetroVietnam 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 PetroVietnam Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PetroVietnam Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PetroVietnam Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
PetroVietnam Drilling Lagged Returns
When evaluating PetroVietnam Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PetroVietnam Drilling stock have on its future price. PetroVietnam 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, PetroVietnam Drilling autocorrelation shows the relationship between PetroVietnam Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in PetroVietnam Drilling Well.
Regressed Prices |
| Timeline |
Pair Trading with PetroVietnam Drilling
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 PetroVietnam Drilling 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 PetroVietnam Drilling will appreciate offsetting losses from the drop in the long position's value.Moving together with PetroVietnam Stock
| 0.69 | FIT | FIT INVEST JSC | PairCorr |
| 0.89 | ADS | Damsan JSC | PairCorr |
| 0.88 | AAA | An Phat Plastic | PairCorr |
| 0.83 | AME | Alphanam ME | PairCorr |
| 0.78 | APG | APG Securities Joint | PairCorr |
Moving against PetroVietnam Stock
| 0.79 | BCF | Bich Chi Food | PairCorr |
| 0.77 | ICT | Telecoms Informatics JSC | PairCorr |
| 0.69 | ELC | Elcom Technology Com | PairCorr |
| 0.63 | SMA | Saigon Machinery Spare | PairCorr |
| 0.5 | FPT | FPT Corp | PairCorr |
The ability to find closely correlated positions to PetroVietnam Drilling could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PetroVietnam Drilling 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 PetroVietnam Drilling - 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 PetroVietnam Drilling Well to buy it.
The correlation of PetroVietnam Drilling 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 PetroVietnam Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PetroVietnam Drilling 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 PetroVietnam Drilling 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 PetroVietnam Stock
PetroVietnam Drilling financial ratios help investors to determine whether PetroVietnam 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 PetroVietnam with respect to the benefits of owning PetroVietnam Drilling security.