Oceana (South Africa) Market Value
| OCE Stock | 6,820 50.00 0.73% |
| Symbol | Oceana |
Oceana '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 Oceana'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 Oceana.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in Oceana on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding Oceana or generate 0.0% return on investment in Oceana over 30 days. Oceana is related to or competes with Afine Investments, Frontier Transport, Life Healthcare, Reinet Investments, Trematon Capital, and Safari Investments. More
Oceana 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 Oceana'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 Oceana upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 5.64 | |||
| Value At Risk | (1.63) | |||
| Potential Upside | 1.57 |
Oceana Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oceana's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oceana's standard deviation. In reality, there are many statistical measures that can use Oceana historical prices to predict the future Oceana's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | (0.23) |
Oceana Backtested Returns
Oceana maintains Sharpe Ratio (i.e., Efficiency) of -0.0447, which implies the firm had a -0.0447% return per unit of risk over the last 3 months. Oceana exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Oceana's Coefficient Of Variation of (6,836), risk adjusted performance of (0.01), and Variance of 1.1 to confirm the risk estimate we provide. The company holds a Beta of 0.11, which implies not very significant fluctuations relative to the market. As returns on the market increase, Oceana's returns are expected to increase less than the market. However, during the bear market, the loss of holding Oceana is expected to be smaller as well. At this point, Oceana has a negative expected return of -0.0458%. Please make sure to check Oceana's jensen alpha, value at risk, accumulation distribution, as well as the relationship between the treynor ratio and skewness , to decide if Oceana performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.11 |
Insignificant reverse predictability
Oceana has insignificant reverse predictability. Overlapping area represents the amount of predictability between Oceana time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 Oceana price movement. The serial correlation of -0.11 indicates that less than 11.0% of current Oceana price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.11 | |
| Spearman Rank Test | 0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 1889.11 |
Oceana lagged returns against current returns
Autocorrelation, which is Oceana 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 Oceana's stock expected returns. We can calculate the autocorrelation of Oceana returns to help us make a trade decision. For example, suppose you find that Oceana 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 |
Oceana 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 Oceana stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oceana stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oceana stock over time.
Current vs Lagged Prices |
| Timeline |
Oceana Lagged Returns
When evaluating Oceana's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oceana stock have on its future price. Oceana 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, Oceana autocorrelation shows the relationship between Oceana stock current value and its past values and can show if there is a momentum factor associated with investing in Oceana.
Regressed Prices |
| Timeline |
Also Currently Popular
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.Other Information on Investing in Oceana Stock
Oceana financial ratios help investors to determine whether Oceana 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 Oceana with respect to the benefits of owning Oceana security.