Altex Industries Stock Market Value
| ALTX Stock | USD 0.26 0.00 0.00% |
| Symbol | Altex |
Altex Industries '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 Altex Industries' pink sheet 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 Altex Industries.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Altex Industries on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Altex Industries or generate 0.0% return on investment in Altex Industries over 720 days. Altex Industries is related to or competes with Altura Energy, and Barrister Energy. Altex Industries, Inc., through its subsidiary, Altex Oil Corporation, owns interests in productive onshore oil and gas ... More
Altex Industries 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 Altex Industries' pink sheet 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 Altex Industries upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0256 | |||
| Maximum Drawdown | 45.0 | |||
| Value At Risk | (10.00) | |||
| Potential Upside | 8.33 |
Altex Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Altex Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Altex Industries' standard deviation. In reality, there are many statistical measures that can use Altex Industries historical prices to predict the future Altex Industries' volatility.| Risk Adjusted Performance | 0.0458 | |||
| Jensen Alpha | 0.365 | |||
| Total Risk Alpha | (0.72) | |||
| Treynor Ratio | (0.44) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Altex Industries' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Altex Industries Backtested Returns
Altex Industries appears to be out of control, given 3 months investment horizon. Altex Industries secures Sharpe Ratio (or Efficiency) of 0.0492, which signifies that the company had a 0.0492% return per unit of risk over the last 3 months. We have found nineteen technical indicators for Altex Industries, which you can use to evaluate the volatility of the firm. Please makes use of Altex Industries' Standard Deviation of 6.03, mean deviation of 2.31, and Risk Adjusted Performance of 0.0458 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Altex Industries holds a performance score of 3. The firm shows a Beta (market volatility) of -0.65, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Altex Industries are expected to decrease at a much lower rate. During the bear market, Altex Industries is likely to outperform the market. Please check Altex Industries' jensen alpha and rate of daily change , to make a quick decision on whether Altex Industries' price patterns will revert.
Auto-correlation | 0.48 |
Average predictability
Altex Industries has average predictability. Overlapping area represents the amount of predictability between Altex Industries time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 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 Altex Industries price movement. The serial correlation of 0.48 indicates that about 48.0% of current Altex Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Altex Industries lagged returns against current returns
Autocorrelation, which is Altex Industries pink sheet'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 Altex Industries' pink sheet expected returns. We can calculate the autocorrelation of Altex Industries returns to help us make a trade decision. For example, suppose you find that Altex Industries has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Altex Industries 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 Altex Industries pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Altex Industries pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Altex Industries pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Altex Industries Lagged Returns
When evaluating Altex Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Altex Industries pink sheet have on its future price. Altex Industries 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, Altex Industries autocorrelation shows the relationship between Altex Industries pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Altex Industries.
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 Altex Pink Sheet Analysis
When running Altex Industries' price analysis, check to measure Altex Industries' 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 Altex Industries is operating at the current time. Most of Altex Industries' value examination focuses on studying past and present price action to predict the probability of Altex Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Altex Industries' price. Additionally, you may evaluate how the addition of Altex Industries to your portfolios can decrease your overall portfolio volatility.