Parex Resources Stock Market Value
| PARXF Stock | USD 10.50 0.03 0.28% |
| Symbol | Parex |
Parex Resources '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 Parex Resources' pink sheet 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 Parex Resources.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Parex Resources on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Parex Resources or generate 0.0% return on investment in Parex Resources over 30 days. Parex Resources is related to or competes with Petroleo Brasileiro, Equinor ASA, Eni SPA, YPF Sociedad, Ecopetrol, BP PLC, and Shell PLC. Parex Resources Inc. engages in the exploration, development, production of oil and natural gas in Colombia More
Parex Resources 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 Parex Resources' pink sheet 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 Parex Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 24.98 | |||
| Value At Risk | (3.45) | |||
| Potential Upside | 3.58 |
Parex Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parex Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parex Resources' standard deviation. In reality, there are many statistical measures that can use Parex Resources historical prices to predict the future Parex Resources' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.75) | |||
| Treynor Ratio | (1.26) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Parex Resources' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Parex Resources Backtested Returns
Parex Resources maintains Sharpe Ratio (i.e., Efficiency) of -0.0516, which implies the firm had a -0.0516% return per unit of risk over the last 3 months. Parex Resources exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Parex Resources' Risk Adjusted Performance of (0.03), coefficient of variation of (1,925), and Variance of 12.88 to confirm the risk estimate we provide. The company holds a Beta of 0.16, which implies not very significant fluctuations relative to the market. As returns on the market increase, Parex Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding Parex Resources is expected to be smaller as well. At this point, Parex Resources has a negative expected return of -0.19%. Please make sure to check Parex Resources' total risk alpha, daily balance of power, as well as the relationship between the Daily Balance Of Power and period momentum indicator , to decide if Parex Resources performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.69 |
Good predictability
Parex Resources has good predictability. Overlapping area represents the amount of predictability between Parex Resources time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Parex Resources price movement. The serial correlation of 0.69 indicates that around 69.0% of current Parex Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Parex Resources lagged returns against current returns
Autocorrelation, which is Parex Resources pink sheet'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 Parex Resources' pink sheet expected returns. We can calculate the autocorrelation of Parex Resources returns to help us make a trade decision. For example, suppose you find that Parex Resources has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Parex Resources 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 Parex Resources pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parex Resources pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parex Resources pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Parex Resources Lagged Returns
When evaluating Parex Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parex Resources pink sheet have on its future price. Parex Resources 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, Parex Resources autocorrelation shows the relationship between Parex Resources pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Parex Resources.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Parex Pink Sheet
Parex Resources financial ratios help investors to determine whether Parex Pink Sheet 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 Parex with respect to the benefits of owning Parex Resources security.