Leather Up (Pakistan) Market Value
| LEUL Stock | 18.64 0.36 1.89% |
| Symbol | Leather |
Please note, there is a significant difference between Leather Up's value and its price as these two are different measures arrived at by different means. Investors typically determine if Leather Up is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Leather Up's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Leather Up '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 Leather Up'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 Leather Up.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Leather Up on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Leather Up or generate 0.0% return on investment in Leather Up over 540 days. Leather Up is related to or competes with ORIX Leasing, Hi Tech, Ittehad Chemicals, National Foods, and JS Investments. More
Leather Up 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 Leather Up'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 Leather Up upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 7.0 | |||
| Information Ratio | 0.0608 | |||
| Maximum Drawdown | 19.82 | |||
| Value At Risk | (9.47) | |||
| Potential Upside | 10.01 |
Leather Up Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Leather Up's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Leather Up's standard deviation. In reality, there are many statistical measures that can use Leather Up historical prices to predict the future Leather Up's volatility.| Risk Adjusted Performance | 0.0723 | |||
| Jensen Alpha | 0.4323 | |||
| Total Risk Alpha | (0.39) | |||
| Sortino Ratio | 0.0489 | |||
| Treynor Ratio | 2.09 |
Leather Up Backtested Returns
Leather Up appears to be somewhat reliable, given 3 months investment horizon. Leather Up has Sharpe Ratio of 0.11, which conveys that the firm had a 0.11% return per unit of risk over the last 3 months. By analyzing Leather Up's technical indicators, you can evaluate if the expected return of 0.58% is justified by implied risk. Please exercise Leather Up's Mean Deviation of 4.06, downside deviation of 7.0, and Risk Adjusted Performance of 0.0723 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Leather Up holds a performance score of 8. The company secures a Beta (Market Risk) of 0.22, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Leather Up's returns are expected to increase less than the market. However, during the bear market, the loss of holding Leather Up is expected to be smaller as well. Please check Leather Up's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Leather Up's current price movements will revert.
Auto-correlation | -0.14 |
Insignificant reverse predictability
Leather Up has insignificant reverse predictability. Overlapping area represents the amount of predictability between Leather Up time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th of November 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 Leather Up price movement. The serial correlation of -0.14 indicates that less than 14.0% of current Leather Up price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.14 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 3.96 |
Leather Up lagged returns against current returns
Autocorrelation, which is Leather Up 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 Leather Up's stock expected returns. We can calculate the autocorrelation of Leather Up returns to help us make a trade decision. For example, suppose you find that Leather Up 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 |
Leather Up 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 Leather Up stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Leather Up stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Leather Up stock over time.
Current vs Lagged Prices |
| Timeline |
Leather Up Lagged Returns
When evaluating Leather Up's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Leather Up stock have on its future price. Leather Up 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, Leather Up autocorrelation shows the relationship between Leather Up stock current value and its past values and can show if there is a momentum factor associated with investing in Leather Up.
Regressed Prices |
| Timeline |
Pair Trading with Leather Up
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 Leather Up 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 Leather Up will appreciate offsetting losses from the drop in the long position's value.Moving together with Leather Stock
Moving against Leather Stock
The ability to find closely correlated positions to Leather Up could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Leather Up 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 Leather Up - 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 Leather Up to buy it.
The correlation of Leather Up 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 Leather Up moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Leather Up 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 Leather Up 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 Leather Stock
Leather Up financial ratios help investors to determine whether Leather 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 Leather with respect to the benefits of owning Leather Up security.