Ghani Glass (Pakistan) Market Value
| GHGL Stock | 27.71 0.14 0.51% |
| Symbol | Ghani |
Ghani Glass '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 Ghani Glass' 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 Ghani Glass.
| 06/10/2023 |
| 12/01/2024 |
If you would invest 0.00 in Ghani Glass on June 10, 2023 and sell it all today you would earn a total of 0.00 from holding Ghani Glass or generate 0.0% return on investment in Ghani Glass over 540 days. Ghani Glass is related to or competes with Masood Textile, Fauji Foods, KSB Pumps, Mari Petroleum, Loads, Thatta Cement, and KOT Addu. More
Ghani Glass 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 Ghani Glass' 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 Ghani Glass upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.95 | |||
| Information Ratio | 0.0185 | |||
| Maximum Drawdown | 16.55 | |||
| Value At Risk | (2.21) | |||
| Potential Upside | 2.13 |
Ghani Glass Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ghani Glass' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ghani Glass' standard deviation. In reality, there are many statistical measures that can use Ghani Glass historical prices to predict the future Ghani Glass' volatility.| Risk Adjusted Performance | 0.0682 | |||
| Jensen Alpha | 0.1774 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | 0.021 | |||
| Treynor Ratio | (2.42) |
Ghani Glass Backtested Returns
At this point, Ghani Glass is very steady. Ghani Glass holds Efficiency (Sharpe) Ratio of 0.081, which attests that the entity had a 0.081% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for Ghani Glass, which you can use to evaluate the volatility of the firm. Please check out Ghani Glass' market risk adjusted performance of (2.41), and Risk Adjusted Performance of 0.0682 to validate if the risk estimate we provide is consistent with the expected return of 0.18%. Ghani Glass has a performance score of 6 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.0695, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Ghani Glass are expected to decrease at a much lower rate. During the bear market, Ghani Glass is likely to outperform the market. Ghani Glass right now retains a risk of 2.24%. Please check out Ghani Glass market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if Ghani Glass will be following its current trending patterns.
Auto-correlation | -0.21 |
Weak reverse predictability
Ghani Glass has weak reverse predictability. Overlapping area represents the amount of predictability between Ghani Glass time series from 10th of June 2023 to 6th of March 2024 and 6th of March 2024 to 1st 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 Ghani Glass price movement. The serial correlation of -0.21 indicates that over 21.0% of current Ghani Glass price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | 0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 1.51 |
Ghani Glass lagged returns against current returns
Autocorrelation, which is Ghani Glass 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 Ghani Glass' stock expected returns. We can calculate the autocorrelation of Ghani Glass returns to help us make a trade decision. For example, suppose you find that Ghani Glass 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 |
Ghani Glass 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 Ghani Glass stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ghani Glass stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ghani Glass stock over time.
Current vs Lagged Prices |
| Timeline |
Ghani Glass Lagged Returns
When evaluating Ghani Glass' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ghani Glass stock have on its future price. Ghani Glass 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, Ghani Glass autocorrelation shows the relationship between Ghani Glass stock current value and its past values and can show if there is a momentum factor associated with investing in Ghani Glass.
Regressed Prices |
| Timeline |
Pair Trading with Ghani Glass
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 Ghani Glass 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 Ghani Glass will appreciate offsetting losses from the drop in the long position's value.Moving together with Ghani Stock
Moving against Ghani Stock
The ability to find closely correlated positions to Ghani Glass could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ghani Glass 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 Ghani Glass - 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 Ghani Glass to buy it.
The correlation of Ghani Glass 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 Ghani Glass moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ghani Glass 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 Ghani Glass 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 Ghani Stock
Ghani Glass financial ratios help investors to determine whether Ghani 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 Ghani with respect to the benefits of owning Ghani Glass security.