Prime Oil (Taiwan) Market Value
| 2904 Stock | TWD 18.10 0.05 0.28% |
| Symbol | Prime |
Prime Oil '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 Prime Oil'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 Prime Oil.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Prime Oil on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Prime Oil Chemical or generate 0.0% return on investment in Prime Oil over 30 days. Prime Oil is related to or competes with President Chain, Huaku Development, Formosa International, Mercuries Associates, and Taiwan Fu. Prime Oil Chemical Service Corporation operates as an oil and petrochemical storage and transshipping company in Taiwan More
Prime Oil 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 Prime Oil'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 Prime Oil Chemical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.33) | |||
| Maximum Drawdown | 2.96 | |||
| Value At Risk | (0.82) | |||
| Potential Upside | 0.554 |
Prime Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prime Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prime Oil's standard deviation. In reality, there are many statistical measures that can use Prime Oil historical prices to predict the future Prime Oil's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | 3.72 |
Prime Oil Chemical Backtested Returns
Prime Oil Chemical maintains Sharpe Ratio (i.e., Efficiency) of -0.0908, which implies the firm had a -0.0908% return per unit of risk over the last 3 months. Prime Oil Chemical exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Prime Oil's Variance of 0.3061, risk adjusted performance of (0.07), and Coefficient Of Variation of (1,101) to confirm the risk estimate we provide. The company holds a Beta of -0.0162, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Prime Oil are expected to decrease at a much lower rate. During the bear market, Prime Oil is likely to outperform the market. At this point, Prime Oil Chemical has a negative expected return of -0.0502%. Please make sure to check Prime Oil's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Prime Oil Chemical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.54 |
Modest predictability
Prime Oil Chemical has modest predictability. Overlapping area represents the amount of predictability between Prime Oil time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th of November 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 Prime Oil Chemical price movement. The serial correlation of 0.54 indicates that about 54.0% of current Prime Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Prime Oil Chemical lagged returns against current returns
Autocorrelation, which is Prime Oil 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 Prime Oil's stock expected returns. We can calculate the autocorrelation of Prime Oil returns to help us make a trade decision. For example, suppose you find that Prime Oil 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 |
Prime Oil 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 Prime Oil stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prime Oil stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Prime Oil stock over time.
Current vs Lagged Prices |
| Timeline |
Prime Oil Lagged Returns
When evaluating Prime Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prime Oil stock have on its future price. Prime Oil 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, Prime Oil autocorrelation shows the relationship between Prime Oil stock current value and its past values and can show if there is a momentum factor associated with investing in Prime Oil Chemical.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Prime Stock Analysis
When running Prime Oil's price analysis, check to measure Prime Oil'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 Prime Oil is operating at the current time. Most of Prime Oil's value examination focuses on studying past and present price action to predict the probability of Prime Oil's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Prime Oil's price. Additionally, you may evaluate how the addition of Prime Oil to your portfolios can decrease your overall portfolio volatility.