Photon Energy (Czech Republic) Market Value
| PEN Stock | CZK 26.90 0.30 1.13% |
| Symbol | Photon |
Photon Energy '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 Photon Energy'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 Photon Energy.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Photon Energy on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Photon Energy NV or generate 0.0% return on investment in Photon Energy over 180 days. Photon Energy is related to or competes with Vienna Insurance, UNIQA Insurance, and Moneta Money. Photon Energy N.V., through its subsidiaries, provides solar power solutions and services worldwide More
Photon Energy 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 Photon Energy'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 Photon Energy NV upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 14.19 | |||
| Value At Risk | (4.32) | |||
| Potential Upside | 2.62 |
Photon Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Photon Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Photon Energy's standard deviation. In reality, there are many statistical measures that can use Photon Energy historical prices to predict the future Photon Energy's volatility.| Risk Adjusted Performance | (0.18) | |||
| Jensen Alpha | (0.69) | |||
| Total Risk Alpha | (1.02) | |||
| Treynor Ratio | (1.00) |
Photon Energy NV Backtested Returns
Photon Energy NV maintains Sharpe Ratio (i.e., Efficiency) of -0.24, which implies the firm had a -0.24% return per unit of risk over the last 3 months. Photon Energy NV exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Photon Energy's Risk Adjusted Performance of (0.18), coefficient of variation of (412.69), and Variance of 6.14 to confirm the risk estimate we provide. The company holds a Beta of 0.61, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Photon Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Photon Energy is expected to be smaller as well. At this point, Photon Energy NV has a negative expected return of -0.59%. Please make sure to check Photon Energy's accumulation distribution, and the relationship between the potential upside and day median price , to decide if Photon Energy NV performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.83 |
Very good predictability
Photon Energy NV has very good predictability. Overlapping area represents the amount of predictability between Photon Energy time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 Photon Energy NV price movement. The serial correlation of 0.83 indicates that around 83.0% of current Photon Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 18.51 |
Photon Energy NV lagged returns against current returns
Autocorrelation, which is Photon Energy 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 Photon Energy's stock expected returns. We can calculate the autocorrelation of Photon Energy returns to help us make a trade decision. For example, suppose you find that Photon Energy 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 |
Photon Energy 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 Photon Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Photon Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Photon Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Photon Energy Lagged Returns
When evaluating Photon Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Photon Energy stock have on its future price. Photon Energy 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, Photon Energy autocorrelation shows the relationship between Photon Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Photon Energy NV.
Regressed Prices |
| Timeline |
Pair Trading with Photon Energy
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 Photon Energy 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 Photon Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Photon Stock
Moving against Photon Stock
| 0.93 | KOFOL | Kofola CeskoSlovensko | PairCorr |
| 0.91 | CEZ | Cez AS | PairCorr |
| 0.87 | FILL | Fillamentum as | PairCorr |
| 0.35 | HWIO | HARDWARIO as | PairCorr |
The ability to find closely correlated positions to Photon Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Photon Energy 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 Photon Energy - 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 Photon Energy NV to buy it.
The correlation of Photon Energy 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 Photon Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Photon Energy NV 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 Photon Energy 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 Photon Stock Analysis
When running Photon Energy's price analysis, check to measure Photon Energy's 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 Photon Energy is operating at the current time. Most of Photon Energy's value examination focuses on studying past and present price action to predict the probability of Photon Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Photon Energy's price. Additionally, you may evaluate how the addition of Photon Energy to your portfolios can decrease your overall portfolio volatility.