PIA Holding (Pakistan) Market Value
| PIAHCLA Stock | 16.39 0.31 1.93% |
| Symbol | PIA |
PIA Holding '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 PIA Holding'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 PIA Holding.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in PIA Holding on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding PIA Holding or generate 0.0% return on investment in PIA Holding over 30 days.
PIA Holding 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 PIA Holding'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 PIA Holding upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.08 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 20.04 | |||
| Value At Risk | (9.88) | |||
| Potential Upside | 10.0 |
PIA Holding Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PIA Holding's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PIA Holding's standard deviation. In reality, there are many statistical measures that can use PIA Holding historical prices to predict the future PIA Holding's volatility.| Risk Adjusted Performance | 0.0146 | |||
| Jensen Alpha | 0.0821 | |||
| Total Risk Alpha | (0.86) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.08) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of PIA Holding's 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.
PIA Holding Backtested Returns
At this point, PIA Holding is somewhat reliable. PIA Holding retains Efficiency (Sharpe Ratio) of 0.0029, which implies the firm had a 0.0029% return per unit of risk over the last 3 months. We have found thirty technical indicators for PIA Holding, which you can use to evaluate the volatility of the company. Please check PIA Holding's market risk adjusted performance of (0.07), and Semi Deviation of 5.0 to confirm if the risk estimate we provide is consistent with the expected return of 0.0153%. The company owns a Beta (Systematic Risk) of -0.39, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning PIA Holding are expected to decrease at a much lower rate. During the bear market, PIA Holding is likely to outperform the market. PIA Holding now owns a risk of 5.27%. Please check PIA Holding treynor ratio, expected short fall, and the relationship between the jensen alpha and potential upside , to decide if PIA Holding will be following its current price history.
Auto-correlation | -0.46 |
Modest reverse predictability
PIA Holding has modest reverse predictability. Overlapping area represents the amount of predictability between PIA Holding time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 PIA Holding price movement. The serial correlation of -0.46 indicates that about 46.0% of current PIA Holding price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.84 |
PIA Holding lagged returns against current returns
Autocorrelation, which is PIA Holding 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 PIA Holding's stock expected returns. We can calculate the autocorrelation of PIA Holding returns to help us make a trade decision. For example, suppose you find that PIA Holding 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 |
PIA Holding 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 PIA Holding stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PIA Holding stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PIA Holding stock over time.
Current vs Lagged Prices |
| Timeline |
PIA Holding Lagged Returns
When evaluating PIA Holding's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PIA Holding stock have on its future price. PIA Holding 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, PIA Holding autocorrelation shows the relationship between PIA Holding stock current value and its past values and can show if there is a momentum factor associated with investing in PIA Holding.
Regressed Prices |
| Timeline |
Pair Trading with PIA Holding
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 PIA Holding 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 PIA Holding will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to PIA Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PIA Holding 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 PIA Holding - 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 PIA Holding to buy it.
The correlation of PIA Holding 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 PIA Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PIA Holding 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 PIA Holding 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.