Paz Corp (Chile) Market Value
| PAZ Stock | CLP 435.31 0.31 0.07% |
| Symbol | Paz |
Paz Corp '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 Paz Corp'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 Paz Corp.
| 06/07/2024 |
| 12/04/2024 |
If you would invest 0.00 in Paz Corp on June 7, 2024 and sell it all today you would earn a total of 0.00 from holding Paz Corp or generate 0.0% return on investment in Paz Corp over 180 days. Paz Corp is related to or competes with Salfacorp, Socovesa, Besalco Sa, Ripley Corp, and Empresas CMPC. Paz Corp S.A., a real estate company, engages in housing projects development business More
Paz Corp 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 Paz Corp'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 Paz Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.43) | |||
| Maximum Drawdown | 8.22 | |||
| Value At Risk | (2.73) | |||
| Potential Upside | 0.8167 |
Paz Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Paz Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Paz Corp's standard deviation. In reality, there are many statistical measures that can use Paz Corp historical prices to predict the future Paz Corp's volatility.| Risk Adjusted Performance | (0.26) | |||
| Jensen Alpha | (0.45) | |||
| Total Risk Alpha | (0.64) | |||
| Treynor Ratio | 3.51 |
Paz Corp Backtested Returns
Paz Corp maintains Sharpe Ratio (i.e., Efficiency) of -0.29, which implies the firm had a -0.29% return per unit of risk over the last 3 months. Paz Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Paz Corp's Coefficient Of Variation of (291.72), risk adjusted performance of (0.26), and Variance of 1.73 to confirm the risk estimate we provide. The company holds a Beta of -0.13, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Paz Corp are expected to decrease at a much lower rate. During the bear market, Paz Corp is likely to outperform the market. At this point, Paz Corp has a negative expected return of -0.25%. Please make sure to check Paz Corp's value at risk, and the relationship between the jensen alpha and accumulation distribution , to decide if Paz Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.41 |
Average predictability
Paz Corp has average predictability. Overlapping area represents the amount of predictability between Paz Corp time series from 7th of June 2024 to 5th of September 2024 and 5th of September 2024 to 4th of December 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 Paz Corp price movement. The serial correlation of 0.41 indicates that just about 41.0% of current Paz Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.41 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 165.55 |
Paz Corp lagged returns against current returns
Autocorrelation, which is Paz Corp 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 Paz Corp's stock expected returns. We can calculate the autocorrelation of Paz Corp returns to help us make a trade decision. For example, suppose you find that Paz Corp 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 |
Paz Corp 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 Paz Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Paz Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Paz Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Paz Corp Lagged Returns
When evaluating Paz Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Paz Corp stock have on its future price. Paz Corp 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, Paz Corp autocorrelation shows the relationship between Paz Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Paz Corp.
Regressed Prices |
| Timeline |
Pair Trading with Paz Corp
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 Paz Corp 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 Paz Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with Paz Stock
Moving against Paz Stock
| 0.84 | ENLASA | Energia Latina SA | PairCorr |
| 0.82 | AFPCAPITAL | AFP Capital SA | PairCorr |
| 0.41 | AAISA | Administradora Americana | PairCorr |
The ability to find closely correlated positions to Paz Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Paz Corp 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 Paz Corp - 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 Paz Corp to buy it.
The correlation of Paz Corp 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 Paz Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Paz Corp 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 Paz Corp 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 Paz Stock
Paz Corp financial ratios help investors to determine whether Paz 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 Paz with respect to the benefits of owning Paz Corp security.