Pardee Resources Co Stock Market Value
| PDER Stock | USD 312.00 2.99 0.97% |
| Symbol | Pardee |
Pardee 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 Pardee 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 Pardee Resources.
| 09/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Pardee Resources on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding Pardee Resources Co or generate 0.0% return on investment in Pardee Resources over 60 days. Pardee Resources is related to or competes with Expro Group, ChampionX, Ranger Energy, Cactus, MRC Global, Valaris, and Weatherford International. Pardee Resources Company, Inc., through its subsidiaries, owns, acquires, develops, and manages natural resource propert... More
Pardee 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 Pardee 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 Pardee Resources Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.05 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 8.5 | |||
| Value At Risk | (1.38) | |||
| Potential Upside | 1.64 |
Pardee Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pardee Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pardee Resources' standard deviation. In reality, there are many statistical measures that can use Pardee Resources historical prices to predict the future Pardee Resources' volatility.| Risk Adjusted Performance | 0.056 | |||
| Jensen Alpha | 0.0578 | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.4981 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pardee 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.
Pardee Resources Backtested Returns
Currently, Pardee Resources Co is very steady. Pardee Resources maintains Sharpe Ratio (i.e., Efficiency) of 0.0491, which implies the firm had a 0.0491% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Pardee Resources, which you can use to evaluate the volatility of the company. Please check Pardee Resources' Risk Adjusted Performance of 0.056, coefficient of variation of 1468.79, and Semi Deviation of 0.7282 to confirm if the risk estimate we provide is consistent with the expected return of 0.045%. Pardee Resources has a performance score of 3 on a scale of 0 to 100. The company holds a Beta of 0.15, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pardee Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding Pardee Resources is expected to be smaller as well. Pardee Resources right now holds a risk of 0.92%. Please check Pardee Resources potential upside, as well as the relationship between the kurtosis and price action indicator , to decide if Pardee Resources will be following its historical price patterns.
Auto-correlation | -0.29 |
Weak reverse predictability
Pardee Resources Co has weak reverse predictability. Overlapping area represents the amount of predictability between Pardee Resources time series from 28th of September 2024 to 28th of October 2024 and 28th of October 2024 to 27th 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 Pardee Resources price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Pardee Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 4.27 |
Pardee Resources lagged returns against current returns
Autocorrelation, which is Pardee 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 Pardee Resources' pink sheet expected returns. We can calculate the autocorrelation of Pardee Resources returns to help us make a trade decision. For example, suppose you find that Pardee 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 |
Pardee 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 Pardee Resources pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pardee 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 Pardee Resources pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Pardee Resources Lagged Returns
When evaluating Pardee Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pardee Resources pink sheet have on its future price. Pardee 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, Pardee Resources autocorrelation shows the relationship between Pardee Resources pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Pardee Resources Co.
Regressed Prices |
| Timeline |
Pair Trading with Pardee Resources
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 Pardee Resources 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 Pardee Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with Pardee Pink Sheet
Moving against Pardee Pink Sheet
| 0.63 | SGD | Safe and Green | PairCorr |
| 0.61 | QLGN | Qualigen Therapeutics | PairCorr |
| 0.6 | MULN | Mullen Automotive | PairCorr |
| 0.53 | NOV | NOV Inc Sell-off Trend | PairCorr |
| 0.37 | CHOLF | China Oilfield Services | PairCorr |
The ability to find closely correlated positions to Pardee Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pardee Resources 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 Pardee Resources - 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 Pardee Resources Co to buy it.
The correlation of Pardee Resources 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 Pardee Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pardee Resources 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 Pardee Resources 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.Additional Tools for Pardee Pink Sheet Analysis
When running Pardee Resources' price analysis, check to measure Pardee Resources' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Pardee Resources is operating at the current time. Most of Pardee Resources' value examination focuses on studying past and present price action to predict the probability of Pardee Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Pardee Resources' price. Additionally, you may evaluate how the addition of Pardee Resources to your portfolios can decrease your overall portfolio volatility.