Petrolimex Insurance (Vietnam) Market Value
| PGI Stock | 23,500 500.00 2.17% |
| Symbol | Petrolimex |
Petrolimex Insurance '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 Petrolimex Insurance'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 Petrolimex Insurance.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Petrolimex Insurance on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Petrolimex Insurance Corp or generate 0.0% return on investment in Petrolimex Insurance over 30 days. Petrolimex Insurance is related to or competes with FIT INVEST, Damsan JSC, An Phat, APG Securities, Binhthuan Agriculture, Mekong Fisheries, and Bentre Aquaproduct. More
Petrolimex Insurance 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 Petrolimex Insurance'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 Petrolimex Insurance Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 13.67 | |||
| Value At Risk | (3.67) | |||
| Potential Upside | 3.22 |
Petrolimex Insurance Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Petrolimex Insurance's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Petrolimex Insurance's standard deviation. In reality, there are many statistical measures that can use Petrolimex Insurance historical prices to predict the future Petrolimex Insurance's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (1.10) |
Petrolimex Insurance Corp Backtested Returns
Petrolimex Insurance Corp maintains Sharpe Ratio (i.e., Efficiency) of -0.0112, which implies the firm had a -0.0112% return per unit of risk over the last 3 months. Petrolimex Insurance Corp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Petrolimex Insurance's Risk Adjusted Performance of (0.03), variance of 4.14, and Coefficient Of Variation of (1,923) to confirm the risk estimate we provide. The company holds a Beta of 0.1, which implies not very significant fluctuations relative to the market. As returns on the market increase, Petrolimex Insurance's returns are expected to increase less than the market. However, during the bear market, the loss of holding Petrolimex Insurance is expected to be smaller as well. At this point, Petrolimex Insurance Corp has a negative expected return of -0.0168%. Please make sure to check Petrolimex Insurance's maximum drawdown, daily balance of power, as well as the relationship between the Daily Balance Of Power and price action indicator , to decide if Petrolimex Insurance Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.68 |
Very good reverse predictability
Petrolimex Insurance Corp has very good reverse predictability. Overlapping area represents the amount of predictability between Petrolimex Insurance time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Petrolimex Insurance Corp price movement. The serial correlation of -0.68 indicates that around 68.0% of current Petrolimex Insurance price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 71.4 K |
Petrolimex Insurance Corp lagged returns against current returns
Autocorrelation, which is Petrolimex Insurance 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 Petrolimex Insurance's stock expected returns. We can calculate the autocorrelation of Petrolimex Insurance returns to help us make a trade decision. For example, suppose you find that Petrolimex Insurance 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 |
Petrolimex Insurance 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 Petrolimex Insurance stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Petrolimex Insurance stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Petrolimex Insurance stock over time.
Current vs Lagged Prices |
| Timeline |
Petrolimex Insurance Lagged Returns
When evaluating Petrolimex Insurance's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Petrolimex Insurance stock have on its future price. Petrolimex Insurance 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, Petrolimex Insurance autocorrelation shows the relationship between Petrolimex Insurance stock current value and its past values and can show if there is a momentum factor associated with investing in Petrolimex Insurance Corp.
Regressed Prices |
| Timeline |
Pair Trading with Petrolimex Insurance
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 Petrolimex Insurance 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 Petrolimex Insurance will appreciate offsetting losses from the drop in the long position's value.Moving together with Petrolimex Stock
| 0.76 | ADS | Damsan JSC | PairCorr |
| 0.8 | AAA | An Phat Plastic | PairCorr |
| 0.8 | AME | Alphanam ME | PairCorr |
| 0.72 | APG | APG Securities Joint | PairCorr |
The ability to find closely correlated positions to Petrolimex Insurance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Petrolimex Insurance 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 Petrolimex Insurance - 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 Petrolimex Insurance Corp to buy it.
The correlation of Petrolimex Insurance 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 Petrolimex Insurance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Petrolimex Insurance 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 Petrolimex Insurance 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 Petrolimex Stock
Petrolimex Insurance financial ratios help investors to determine whether Petrolimex 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 Petrolimex with respect to the benefits of owning Petrolimex Insurance security.