Al Khair (Pakistan) Market Value
| AKGL Stock | 37.50 2.50 7.14% |
| Symbol | AKGL |
Al Khair '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 Al Khair'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 Al Khair.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Al Khair on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Al Khair Gadoon Limited or generate 0.0% return on investment in Al Khair over 30 days.
Al Khair 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 Al Khair'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 Al Khair Gadoon Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.56 | |||
| Information Ratio | 0.102 | |||
| Maximum Drawdown | 30.38 | |||
| Value At Risk | (8.82) | |||
| Potential Upside | 8.82 |
Al Khair Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Al Khair's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Al Khair's standard deviation. In reality, there are many statistical measures that can use Al Khair historical prices to predict the future Al Khair's volatility.| Risk Adjusted Performance | 0.1052 | |||
| Jensen Alpha | 0.3007 | |||
| Total Risk Alpha | (0.24) | |||
| Sortino Ratio | 0.0883 | |||
| Treynor Ratio | 0.222 |
Al Khair Gadoon Backtested Returns
Al Khair appears to be somewhat reliable, given 3 months investment horizon. Al Khair Gadoon retains Efficiency (Sharpe Ratio) of 0.1, which signifies that the company had a 0.1% return per unit of price deviation over the last 3 months. By examining Al Khair's technical indicators, you can evaluate if the expected return of 0.75% is justified by implied risk. Please makes use of Al Khair's Market Risk Adjusted Performance of 0.232, coefficient of variation of 792.08, and Standard Deviation of 5.68 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Al Khair holds a performance score of 7. The firm owns a Beta (Systematic Risk) of 3.18, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Al Khair will likely underperform. Please check Al Khair's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether Al Khair's current price history will revert.
Auto-correlation | 0.00 |
No correlation between past and present
Al Khair Gadoon Limited has no correlation between past and present. Overlapping area represents the amount of predictability between Al Khair time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 Al Khair Gadoon price movement. The serial correlation of 0.0 indicates that just 0.0% of current Al Khair price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Al Khair Gadoon lagged returns against current returns
Autocorrelation, which is Al Khair 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 Al Khair's stock expected returns. We can calculate the autocorrelation of Al Khair returns to help us make a trade decision. For example, suppose you find that Al Khair 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 |
Al Khair 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 Al Khair stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Al Khair stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Al Khair stock over time.
Current vs Lagged Prices |
| Timeline |
Al Khair Lagged Returns
When evaluating Al Khair's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Al Khair stock have on its future price. Al Khair 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, Al Khair autocorrelation shows the relationship between Al Khair stock current value and its past values and can show if there is a momentum factor associated with investing in Al Khair Gadoon Limited.
Regressed Prices |
| Timeline |
Pair Trading with Al Khair
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 Al Khair 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 Al Khair will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Al Khair could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Al Khair 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 Al Khair - 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 Al Khair Gadoon Limited to buy it.
The correlation of Al Khair 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 Al Khair moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Al Khair Gadoon 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 Al Khair 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.