ChampionX (Germany) Market Value
| X9P Stock | EUR 29.20 0.40 1.39% |
| Symbol | ChampionX |
ChampionX '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 ChampionX'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 ChampionX.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in ChampionX on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding ChampionX or generate 0.0% return on investment in ChampionX over 30 days. ChampionX is related to or competes with Iridium Communications, QINGCI GAMES, Penn National, INTERSHOP Communications, Bank of America, COMBA TELECOM, and Citic Telecom. ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies w... More
ChampionX 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 ChampionX'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 ChampionX upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.0 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 11.01 | |||
| Value At Risk | (3.45) | |||
| Potential Upside | 3.5 |
ChampionX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ChampionX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ChampionX's standard deviation. In reality, there are many statistical measures that can use ChampionX historical prices to predict the future ChampionX's volatility.| Risk Adjusted Performance | 0.0433 | |||
| Jensen Alpha | 0.0423 | |||
| Total Risk Alpha | (0.19) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.1949 |
ChampionX Backtested Returns
At this point, ChampionX is very steady. ChampionX secures Sharpe Ratio (or Efficiency) of 0.09, which signifies that the company had a 0.09% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for ChampionX, which you can use to evaluate the volatility of the firm. Please confirm ChampionX's mean deviation of 1.41, and Risk Adjusted Performance of 0.0433 to double-check if the risk estimate we provide is consistent with the expected return of 0.18%. ChampionX has a performance score of 7 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.46, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, ChampionX's returns are expected to increase less than the market. However, during the bear market, the loss of holding ChampionX is expected to be smaller as well. ChampionX right now shows a risk of 2.03%. Please confirm ChampionX downside deviation, total risk alpha, value at risk, as well as the relationship between the information ratio and treynor ratio , to decide if ChampionX will be following its price patterns.
Auto-correlation | 0.35 |
Below average predictability
ChampionX has below average predictability. Overlapping area represents the amount of predictability between ChampionX time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 ChampionX price movement. The serial correlation of 0.35 indicates that nearly 35.0% of current ChampionX price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.35 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
ChampionX lagged returns against current returns
Autocorrelation, which is ChampionX 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 ChampionX's stock expected returns. We can calculate the autocorrelation of ChampionX returns to help us make a trade decision. For example, suppose you find that ChampionX 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 |
ChampionX 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 ChampionX stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ChampionX stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ChampionX stock over time.
Current vs Lagged Prices |
| Timeline |
ChampionX Lagged Returns
When evaluating ChampionX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ChampionX stock have on its future price. ChampionX 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, ChampionX autocorrelation shows the relationship between ChampionX stock current value and its past values and can show if there is a momentum factor associated with investing in ChampionX.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in ChampionX Stock
When determining whether ChampionX offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ChampionX's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Championx Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Championx Stock:Check out ChampionX Correlation, ChampionX Volatility and ChampionX Alpha and Beta module to complement your research on ChampionX. For more detail on how to invest in ChampionX Stock please use our How to Invest in ChampionX guide.You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
ChampionX technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.