Petronas Gas (Malaysia) Market Value
| 6033 Stock | 17.80 0.20 1.14% |
| Symbol | Petronas |
Petronas Gas '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 Petronas Gas' 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 Petronas Gas.
| 01/31/2024 |
| 11/26/2024 |
If you would invest 0.00 in Petronas Gas on January 31, 2024 and sell it all today you would earn a total of 0.00 from holding Petronas Gas Bhd or generate 0.0% return on investment in Petronas Gas over 300 days. Petronas Gas is related to or competes with Eversafe Rubber, BP Plastics, Daya Materials, Press Metal, Ho Hup, Sungei Bagan, and Sunway Construction. More
Petronas Gas 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 Petronas Gas' 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 Petronas Gas Bhd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 2.15 | |||
| Value At Risk | (0.90) | |||
| Potential Upside | 0.8102 |
Petronas Gas Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Petronas Gas' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Petronas Gas' standard deviation. In reality, there are many statistical measures that can use Petronas Gas historical prices to predict the future Petronas Gas' volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.12) | |||
| Treynor Ratio | (3.25) |
Petronas Gas Bhd Backtested Returns
Petronas Gas Bhd maintains Sharpe Ratio (i.e., Efficiency) of -0.0555, which implies the firm had a -0.0555% return per unit of risk over the last 3 months. Petronas Gas Bhd exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Petronas Gas' Variance of 0.2673, coefficient of variation of (1,801), and Risk Adjusted Performance of (0.05) to confirm the risk estimate we provide. The company holds a Beta of 0.0119, which implies not very significant fluctuations relative to the market. As returns on the market increase, Petronas Gas' returns are expected to increase less than the market. However, during the bear market, the loss of holding Petronas Gas is expected to be smaller as well. At this point, Petronas Gas Bhd has a negative expected return of -0.0287%. Please make sure to check Petronas Gas' total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Petronas Gas Bhd performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.32 |
Poor reverse predictability
Petronas Gas Bhd has poor reverse predictability. Overlapping area represents the amount of predictability between Petronas Gas time series from 31st of January 2024 to 29th of June 2024 and 29th of June 2024 to 26th 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 Petronas Gas Bhd price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current Petronas Gas price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.32 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Petronas Gas Bhd lagged returns against current returns
Autocorrelation, which is Petronas Gas 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 Petronas Gas' stock expected returns. We can calculate the autocorrelation of Petronas Gas returns to help us make a trade decision. For example, suppose you find that Petronas Gas 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 |
Petronas Gas 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 Petronas Gas stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Petronas Gas stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Petronas Gas stock over time.
Current vs Lagged Prices |
| Timeline |
Petronas Gas Lagged Returns
When evaluating Petronas Gas' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Petronas Gas stock have on its future price. Petronas Gas 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, Petronas Gas autocorrelation shows the relationship between Petronas Gas stock current value and its past values and can show if there is a momentum factor associated with investing in Petronas Gas Bhd.
Regressed Prices |
| Timeline |
Also Currently Popular
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.Other Information on Investing in Petronas Stock
Petronas Gas financial ratios help investors to determine whether Petronas 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 Petronas with respect to the benefits of owning Petronas Gas security.