Abaxx Technologies Stock Market Value
| ABXX Stock | 11.08 0.20 1.77% |
| Symbol | Abaxx |
Abaxx Technologies '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 Abaxx Technologies' 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 Abaxx Technologies.
| 01/04/2025 |
| 02/03/2025 |
If you would invest 0.00 in Abaxx Technologies on January 4, 2025 and sell it all today you would earn a total of 0.00 from holding Abaxx Technologies or generate 0.0% return on investment in Abaxx Technologies over 30 days. Abaxx Technologies is related to or competes with Quipt Home, Profound Medical, XXIX Metal, Verizon Communications, Computer Modelling, and Pace Metals. Abaxx Technologies is entity of Canada. It is traded as Stock on NEO exchange. More
Abaxx Technologies 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 Abaxx Technologies' 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 Abaxx Technologies upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.2 | |||
| Information Ratio | (0.0008) | |||
| Maximum Drawdown | 12.98 | |||
| Value At Risk | (3.01) | |||
| Potential Upside | 5.42 |
Abaxx Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Abaxx Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Abaxx Technologies' standard deviation. In reality, there are many statistical measures that can use Abaxx Technologies historical prices to predict the future Abaxx Technologies' volatility.| Risk Adjusted Performance | 0.0317 | |||
| Jensen Alpha | 0.0664 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | (0.001) | |||
| Treynor Ratio | 66.5 |
Abaxx Technologies Backtested Returns
Abaxx Technologies secures Sharpe Ratio (or Efficiency) of -0.0686, which signifies that the company had a -0.0686 % return per unit of standard deviation over the last 3 months. Abaxx Technologies exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Abaxx Technologies' risk adjusted performance of 0.0317, and Mean Deviation of 1.83 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.001, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Abaxx Technologies' returns are expected to increase less than the market. However, during the bear market, the loss of holding Abaxx Technologies is expected to be smaller as well. At this point, Abaxx Technologies has a negative expected return of -0.17%. Please make sure to confirm Abaxx Technologies' semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to decide if Abaxx Technologies performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.47 |
Average predictability
Abaxx Technologies has average predictability. Overlapping area represents the amount of predictability between Abaxx Technologies time series from 4th of January 2025 to 19th of January 2025 and 19th of January 2025 to 3rd of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Abaxx Technologies price movement. The serial correlation of 0.47 indicates that about 47.0% of current Abaxx Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.47 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Abaxx Technologies lagged returns against current returns
Autocorrelation, which is Abaxx Technologies 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 Abaxx Technologies' stock expected returns. We can calculate the autocorrelation of Abaxx Technologies returns to help us make a trade decision. For example, suppose you find that Abaxx Technologies 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 |
Abaxx Technologies 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 Abaxx Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Abaxx Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Abaxx Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Abaxx Technologies Lagged Returns
When evaluating Abaxx Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Abaxx Technologies stock have on its future price. Abaxx Technologies 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, Abaxx Technologies autocorrelation shows the relationship between Abaxx Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Abaxx Technologies.
Regressed Prices |
| Timeline |
Pair Trading with Abaxx Technologies
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 Abaxx Technologies 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 Abaxx Technologies will appreciate offsetting losses from the drop in the long position's value.Moving together with Abaxx Stock
Moving against Abaxx Stock
| 0.72 | WMT | Walmart Inc CDR | PairCorr |
| 0.54 | IBM | International Business | PairCorr |
| 0.49 | AMZN | Amazon CDR | PairCorr |
| 0.37 | JPM | JPMorgan Chase | PairCorr |
The ability to find closely correlated positions to Abaxx Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Abaxx Technologies 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 Abaxx Technologies - 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 Abaxx Technologies to buy it.
The correlation of Abaxx Technologies 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 Abaxx Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Abaxx Technologies 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 Abaxx Technologies 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 Abaxx Stock
Abaxx Technologies financial ratios help investors to determine whether Abaxx 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 Abaxx with respect to the benefits of owning Abaxx Technologies security.