Premium Income Stock Market Value
| PIC-A Stock | CAD 6.02 0.03 0.50% |
| Symbol | Premium |
Premium Income Price To Book Ratio
Premium Income '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 Premium Income'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 Premium Income.
| 01/09/2023 |
| 11/29/2024 |
If you would invest 0.00 in Premium Income on January 9, 2023 and sell it all today you would earn a total of 0.00 from holding Premium Income or generate 0.0% return on investment in Premium Income over 690 days. Premium Income is related to or competes with Sprott Physical, Brompton Split, TDb Split, Prime Dividend, and Life Banc. Premium Income Corporation is an equity mutual fund launched and managed by Strathbridge Asset Management Inc More
Premium Income 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 Premium Income'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 Premium Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.63 | |||
| Information Ratio | 0.0769 | |||
| Maximum Drawdown | 9.62 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 4.03 |
Premium Income Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Premium Income's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Premium Income's standard deviation. In reality, there are many statistical measures that can use Premium Income historical prices to predict the future Premium Income's volatility.| Risk Adjusted Performance | 0.1177 | |||
| Jensen Alpha | 0.3104 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0853 | |||
| Treynor Ratio | (0.53) |
Premium Income Backtested Returns
Premium Income appears to be somewhat reliable, given 3 months investment horizon. Premium Income maintains Sharpe Ratio (i.e., Efficiency) of 0.12, which implies the firm had a 0.12% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Premium Income, which you can use to evaluate the volatility of the company. Please evaluate Premium Income's Semi Deviation of 1.37, coefficient of variation of 684.49, and Risk Adjusted Performance of 0.1177 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Premium Income holds a performance score of 9. The company holds a Beta of -0.48, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Premium Income are expected to decrease at a much lower rate. During the bear market, Premium Income is likely to outperform the market. Please check Premium Income's downside deviation, information ratio, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Premium Income's historical price patterns will revert.
Auto-correlation | 0.29 |
Poor predictability
Premium Income has poor predictability. Overlapping area represents the amount of predictability between Premium Income time series from 9th of January 2023 to 20th of December 2023 and 20th of December 2023 to 29th 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 Premium Income price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Premium Income price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.85 | |
| Residual Average | 0.0 | |
| Price Variance | 3.91 |
Premium Income lagged returns against current returns
Autocorrelation, which is Premium Income 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 Premium Income's stock expected returns. We can calculate the autocorrelation of Premium Income returns to help us make a trade decision. For example, suppose you find that Premium Income 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 |
Premium Income 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 Premium Income stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Premium Income stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Premium Income stock over time.
Current vs Lagged Prices |
| Timeline |
Premium Income Lagged Returns
When evaluating Premium Income's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Premium Income stock have on its future price. Premium Income 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, Premium Income autocorrelation shows the relationship between Premium Income stock current value and its past values and can show if there is a momentum factor associated with investing in Premium Income.
Regressed Prices |
| Timeline |
Pair Trading with Premium Income
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 Premium Income 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 Premium Income will appreciate offsetting losses from the drop in the long position's value.Moving against Premium Stock
The ability to find closely correlated positions to Premium Income could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Premium Income 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 Premium Income - 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 Premium Income to buy it.
The correlation of Premium Income 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 Premium Income moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Premium Income 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 Premium Income 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 Premium Stock Analysis
When running Premium Income's price analysis, check to measure Premium Income'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 Premium Income is operating at the current time. Most of Premium Income's value examination focuses on studying past and present price action to predict the probability of Premium Income's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Premium Income's price. Additionally, you may evaluate how the addition of Premium Income to your portfolios can decrease your overall portfolio volatility.