Occidental Petroleum (Brazil) Market Value
| OXYP34 Stock | BRL 48.88 1.48 2.94% |
| Symbol | Occidental |
Occidental Petroleum '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 Occidental Petroleum'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 Occidental Petroleum.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Occidental Petroleum on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Occidental Petroleum or generate 0.0% return on investment in Occidental Petroleum over 90 days. Occidental Petroleum is related to or competes with MAHLE Metal, CVS Health, Taiwan Semiconductor, Broadcom, CM Hospitalar, American Airlines, and Planet Fitness. Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and developme... More
Occidental Petroleum 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 Occidental Petroleum'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 Occidental Petroleum upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 7.56 | |||
| Value At Risk | (3.26) | |||
| Potential Upside | 2.53 |
Occidental Petroleum Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Occidental Petroleum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Occidental Petroleum's standard deviation. In reality, there are many statistical measures that can use Occidental Petroleum historical prices to predict the future Occidental Petroleum's volatility.| Risk Adjusted Performance | 0.0049 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.30) | |||
| Treynor Ratio | (0.30) |
Occidental Petroleum Backtested Returns
Occidental Petroleum maintains Sharpe Ratio (i.e., Efficiency) of -0.048, which implies the firm had a -0.048% return per unit of risk over the last 3 months. Occidental Petroleum exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Occidental Petroleum's Coefficient Of Variation of (81,846), variance of 3.36, and Risk Adjusted Performance of 0.0049 to confirm the risk estimate we provide. The company holds a Beta of 0.0412, which implies not very significant fluctuations relative to the market. As returns on the market increase, Occidental Petroleum's returns are expected to increase less than the market. However, during the bear market, the loss of holding Occidental Petroleum is expected to be smaller as well. At this point, Occidental Petroleum has a negative expected return of -0.091%. Please make sure to check Occidental Petroleum's standard deviation, maximum drawdown, kurtosis, as well as the relationship between the total risk alpha and potential upside , to decide if Occidental Petroleum performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.36 |
Below average predictability
Occidental Petroleum has below average predictability. Overlapping area represents the amount of predictability between Occidental Petroleum time series from 28th of August 2024 to 12th of October 2024 and 12th of October 2024 to 26th 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 Occidental Petroleum price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Occidental Petroleum price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.43 |
Occidental Petroleum lagged returns against current returns
Autocorrelation, which is Occidental Petroleum 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 Occidental Petroleum's stock expected returns. We can calculate the autocorrelation of Occidental Petroleum returns to help us make a trade decision. For example, suppose you find that Occidental Petroleum 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 |
Occidental Petroleum 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 Occidental Petroleum stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Occidental Petroleum stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Occidental Petroleum stock over time.
Current vs Lagged Prices |
| Timeline |
Occidental Petroleum Lagged Returns
When evaluating Occidental Petroleum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Occidental Petroleum stock have on its future price. Occidental Petroleum 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, Occidental Petroleum autocorrelation shows the relationship between Occidental Petroleum stock current value and its past values and can show if there is a momentum factor associated with investing in Occidental Petroleum.
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.Additional Information and Resources on Investing in Occidental Stock
When determining whether Occidental Petroleum offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Occidental Petroleum's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Occidental Petroleum Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Occidental Petroleum Stock:Check out Occidental Petroleum Correlation, Occidental Petroleum Volatility and Occidental Petroleum Alpha and Beta module to complement your research on Occidental Petroleum. For information on how to trade Occidental Stock refer to our How to Trade Occidental Stock guide.You can also try the CEOs Directory module to screen CEOs from public companies around the world.
Occidental Petroleum technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.