Tariq CorpPref (Pakistan) Market Value
| TCORPCPS | 7.00 0.47 6.29% |
| Symbol | Tariq |
Tariq CorpPref '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 Tariq CorpPref'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 Tariq CorpPref.
| 09/04/2023 |
| 12/27/2024 |
If you would invest 0.00 in Tariq CorpPref on September 4, 2023 and sell it all today you would earn a total of 0.00 from holding Tariq CorpPref or generate 0.0% return on investment in Tariq CorpPref over 480 days.
Tariq CorpPref 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 Tariq CorpPref'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 Tariq CorpPref upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 22.8 | |||
| Value At Risk | (9.98) | |||
| Potential Upside | 9.35 |
Tariq CorpPref Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tariq CorpPref's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tariq CorpPref's standard deviation. In reality, there are many statistical measures that can use Tariq CorpPref historical prices to predict the future Tariq CorpPref's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.29) | |||
| Total Risk Alpha | (0.58) | |||
| Treynor Ratio | 0.3697 |
Tariq CorpPref Backtested Returns
Tariq CorpPref owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.25, which indicates the firm had a -0.25% return per unit of risk over the last 3 months. Tariq CorpPref exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tariq CorpPref's Coefficient Of Variation of (1,471), variance of 21.97, and Risk Adjusted Performance of (0.05) to confirm the risk estimate we provide. The entity has a beta of -0.89, which indicates possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Tariq CorpPref are expected to decrease slowly. On the other hand, during market turmoil, Tariq CorpPref is expected to outperform it slightly. At this point, Tariq CorpPref has a negative expected return of -1.24%. Please make sure to validate Tariq CorpPref's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and market facilitation index , to decide if Tariq CorpPref performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.64 |
Very good reverse predictability
Tariq CorpPref has very good reverse predictability. Overlapping area represents the amount of predictability between Tariq CorpPref time series from 4th of September 2023 to 1st of May 2024 and 1st of May 2024 to 27th 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 Tariq CorpPref price movement. The serial correlation of -0.64 indicates that roughly 64.0% of current Tariq CorpPref price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.64 | |
| Spearman Rank Test | -0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 1.92 |
Tariq CorpPref lagged returns against current returns
Autocorrelation, which is Tariq CorpPref 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 Tariq CorpPref's stock expected returns. We can calculate the autocorrelation of Tariq CorpPref returns to help us make a trade decision. For example, suppose you find that Tariq CorpPref 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 |
Tariq CorpPref 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 Tariq CorpPref stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tariq CorpPref stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tariq CorpPref stock over time.
Current vs Lagged Prices |
| Timeline |
Tariq CorpPref Lagged Returns
When evaluating Tariq CorpPref's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tariq CorpPref stock have on its future price. Tariq CorpPref 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, Tariq CorpPref autocorrelation shows the relationship between Tariq CorpPref stock current value and its past values and can show if there is a momentum factor associated with investing in Tariq CorpPref.
Regressed Prices |
| Timeline |
Pair Trading with Tariq CorpPref
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 Tariq CorpPref 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 Tariq CorpPref will appreciate offsetting losses from the drop in the long position's value.Moving against Tariq Stock
| 0.83 | AKBL | Askari Bank | PairCorr |
| 0.83 | HBL | Habib Bank | PairCorr |
| 0.79 | KAPCO | KOT Addu Power | PairCorr |
| 0.78 | LOADS | Loads | PairCorr |
| 0.75 | ENGRO | Engro | PairCorr |
The ability to find closely correlated positions to Tariq CorpPref could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tariq CorpPref 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 Tariq CorpPref - 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 Tariq CorpPref to buy it.
The correlation of Tariq CorpPref 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 Tariq CorpPref moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tariq CorpPref 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 Tariq CorpPref 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.Additional Tools for Tariq Stock Analysis
When running Tariq CorpPref's price analysis, check to measure Tariq CorpPref's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Tariq CorpPref is operating at the current time. Most of Tariq CorpPref's value examination focuses on studying past and present price action to predict the probability of Tariq CorpPref's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tariq CorpPref's price. Additionally, you may evaluate how the addition of Tariq CorpPref to your portfolios can decrease your overall portfolio volatility.