Atlas Battery (Pakistan) Market Value
| ATBA Stock | 361.14 3.51 0.96% |
| Symbol | Atlas |
Atlas Battery '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 Atlas Battery'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 Atlas Battery.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in Atlas Battery on June 5, 2024 and sell it all today you would earn a total of 0.00 from holding Atlas Battery or generate 0.0% return on investment in Atlas Battery over 180 days.
Atlas Battery 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 Atlas Battery'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 Atlas Battery upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 13.8 | |||
| Value At Risk | (3.36) | |||
| Potential Upside | 3.23 |
Atlas Battery Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Atlas Battery's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Atlas Battery's standard deviation. In reality, there are many statistical measures that can use Atlas Battery historical prices to predict the future Atlas Battery's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.43) | |||
| Treynor Ratio | (0.67) |
Atlas Battery Backtested Returns
At this point, Atlas Battery is very steady. Atlas Battery secures Sharpe Ratio (or Efficiency) of 0.0254, which signifies that the company had a 0.0254% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for Atlas Battery, which you can use to evaluate the volatility of the firm. Please confirm Atlas Battery's Mean Deviation of 1.38, risk adjusted performance of (0.02), and Standard Deviation of 2.08 to double-check if the risk estimate we provide is consistent with the expected return of 0.0507%. Atlas Battery has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Atlas Battery's returns are expected to increase less than the market. However, during the bear market, the loss of holding Atlas Battery is expected to be smaller as well. Atlas Battery right now shows a risk of 1.99%. Please confirm Atlas Battery treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Atlas Battery will be following its price patterns.
Auto-correlation | 0.28 |
Poor predictability
Atlas Battery has poor predictability. Overlapping area represents the amount of predictability between Atlas Battery time series from 5th of June 2024 to 3rd of September 2024 and 3rd of September 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 Atlas Battery price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current Atlas Battery price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.28 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 142.43 |
Atlas Battery lagged returns against current returns
Autocorrelation, which is Atlas Battery 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 Atlas Battery's stock expected returns. We can calculate the autocorrelation of Atlas Battery returns to help us make a trade decision. For example, suppose you find that Atlas Battery 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 |
Atlas Battery 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 Atlas Battery stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Atlas Battery stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Atlas Battery stock over time.
Current vs Lagged Prices |
| Timeline |
Atlas Battery Lagged Returns
When evaluating Atlas Battery's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Atlas Battery stock have on its future price. Atlas Battery 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, Atlas Battery autocorrelation shows the relationship between Atlas Battery stock current value and its past values and can show if there is a momentum factor associated with investing in Atlas Battery.
Regressed Prices |
| Timeline |
Pair Trading with Atlas Battery
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 Atlas Battery 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 Atlas Battery will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Atlas Battery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Atlas Battery 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 Atlas Battery - 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 Atlas Battery to buy it.
The correlation of Atlas Battery 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 Atlas Battery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Atlas Battery 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 Atlas Battery 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.