PHLX Oil's market value is the price at which a share of PHLX Oil trades on a public exchange. It measures the collective expectations of PHLX Oil Service investors about its performance. PHLX Oil is listed at 72.56 as of the 1st of February 2025, which is a 1.44 percent decrease since the beginning of the trading day. The index's lowest day price was 71.74. With this module, you can estimate the performance of a buy and hold strategy of PHLX Oil Service and determine expected loss or profit from investing in PHLX Oil over a given investment horizon. Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any index could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.
Symbol
PHLX
PHLX Oil '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 PHLX Oil's index 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 PHLX Oil.
0.00
08/05/2024
No Change 0.00
0.0
In 5 months and 30 days
02/01/2025
0.00
If you would invest 0.00 in PHLX Oil on August 5, 2024 and sell it all today you would earn a total of 0.00 from holding PHLX Oil Service or generate 0.0% return on investment in PHLX Oil over 180 days.
PHLX Oil 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 PHLX Oil's index 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 PHLX Oil Service upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for PHLX Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PHLX Oil's standard deviation. In reality, there are many statistical measures that can use PHLX Oil historical prices to predict the future PHLX Oil's volatility.
PHLX Oil Service maintains Sharpe Ratio (i.e., Efficiency) of -0.0219, which implies the entity had a -0.0219 % return per unit of volatility over the last 3 months. PHLX Oil Service exposes twenty different technical indicators, which can help you to evaluate volatility embedded in its price movement. The index holds a Beta of 0.0, which implies not very significant fluctuations relative to the market. the returns on MARKET and PHLX Oil are completely uncorrelated.
Auto-correlation
0.47
Average predictability
PHLX Oil Service has average predictability. Overlapping area represents the amount of predictability between PHLX Oil time series from 5th of August 2024 to 3rd of November 2024 and 3rd of November 2024 to 1st of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of PHLX Oil Service price movement. The serial correlation of 0.47 indicates that about 47.0% of current PHLX Oil price fluctuation can be explain by its past prices.
Correlation Coefficient
0.47
Spearman Rank Test
0.46
Residual Average
0.0
Price Variance
11.42
PHLX Oil Service lagged returns against current returns
Autocorrelation, which is PHLX Oil index'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 PHLX Oil's index expected returns. We can calculate the autocorrelation of PHLX Oil returns to help us make a trade decision. For example, suppose you find that PHLX Oil has exhibited high autocorrelation historically, and you observe that the index 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
PHLX Oil 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 PHLX Oil index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PHLX Oil index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PHLX Oil index over time.
Current vs Lagged Prices
Timeline
PHLX Oil Lagged Returns
When evaluating PHLX Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PHLX Oil index have on its future price. PHLX Oil 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, PHLX Oil autocorrelation shows the relationship between PHLX Oil index current value and its past values and can show if there is a momentum factor associated with investing in PHLX Oil Service.
Regressed Prices
Timeline
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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.