Orbit Garant Drilling Stock Market Value
| OGD Stock | CAD 0.90 0.01 1.10% |
| Symbol | Orbit |
Orbit Garant Drilling Price To Book Ratio
Orbit Garant '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 Orbit Garant'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 Orbit Garant.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Orbit Garant on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Orbit Garant Drilling or generate 0.0% return on investment in Orbit Garant over 30 days. Orbit Garant is related to or competes with IShares Canadian, PHN Multi, and Altagas Cum. Orbit Garant Drilling Inc. provides mineral drilling services in Canada, the United States, South America, and West Afri... More
Orbit Garant 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 Orbit Garant'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 Orbit Garant Drilling upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.62 | |||
| Information Ratio | 0.1106 | |||
| Maximum Drawdown | 29.17 | |||
| Value At Risk | (5.36) | |||
| Potential Upside | 7.46 |
Orbit Garant Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Orbit Garant's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Orbit Garant's standard deviation. In reality, there are many statistical measures that can use Orbit Garant historical prices to predict the future Orbit Garant's volatility.| Risk Adjusted Performance | 0.1109 | |||
| Jensen Alpha | 0.5646 | |||
| Total Risk Alpha | 0.0086 | |||
| Sortino Ratio | 0.1099 | |||
| Treynor Ratio | 1.42 |
Orbit Garant Drilling Backtested Returns
Orbit Garant appears to be abnormally volatile, given 3 months investment horizon. Orbit Garant Drilling maintains Sharpe Ratio (i.e., Efficiency) of 0.13, which implies the firm had a 0.13% return per unit of risk over the last 3 months. By analyzing Orbit Garant's technical indicators, you can evaluate if the expected return of 0.6% is justified by implied risk. Please evaluate Orbit Garant's Risk Adjusted Performance of 0.1109, coefficient of variation of 743.6, and Semi Deviation of 2.96 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Orbit Garant holds a performance score of 10. The company holds a Beta of 0.43, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Orbit Garant's returns are expected to increase less than the market. However, during the bear market, the loss of holding Orbit Garant is expected to be smaller as well. Please check Orbit Garant's maximum drawdown, skewness, and the relationship between the total risk alpha and downside variance , to make a quick decision on whether Orbit Garant's historical price patterns will revert.
Auto-correlation | 0.72 |
Good predictability
Orbit Garant Drilling has good predictability. Overlapping area represents the amount of predictability between Orbit Garant time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Orbit Garant Drilling price movement. The serial correlation of 0.72 indicates that around 72.0% of current Orbit Garant price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Orbit Garant Drilling lagged returns against current returns
Autocorrelation, which is Orbit Garant 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 Orbit Garant's stock expected returns. We can calculate the autocorrelation of Orbit Garant returns to help us make a trade decision. For example, suppose you find that Orbit Garant 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 |
Orbit Garant 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 Orbit Garant stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Orbit Garant stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Orbit Garant stock over time.
Current vs Lagged Prices |
| Timeline |
Orbit Garant Lagged Returns
When evaluating Orbit Garant's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Orbit Garant stock have on its future price. Orbit Garant 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, Orbit Garant autocorrelation shows the relationship between Orbit Garant stock current value and its past values and can show if there is a momentum factor associated with investing in Orbit Garant Drilling.
Regressed Prices |
| Timeline |
Pair Trading with Orbit Garant
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 Orbit Garant 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 Orbit Garant will appreciate offsetting losses from the drop in the long position's value.Moving against Orbit Stock
The ability to find closely correlated positions to Orbit Garant could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orbit Garant 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 Orbit Garant - 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 Orbit Garant Drilling to buy it.
The correlation of Orbit Garant 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 Orbit Garant moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orbit Garant Drilling 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 Orbit Garant 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 Orbit Stock
Orbit Garant financial ratios help investors to determine whether Orbit 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 Orbit with respect to the benefits of owning Orbit Garant security.