Petrolimex Petrochemical (Vietnam) Market Value
| PLC Stock | 20,700 100.00 0.49% |
| Symbol | Petrolimex |
Petrolimex Petrochemical '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 Petrochemical'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 Petrochemical.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Petrolimex Petrochemical on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Petrolimex Petrochemical JSC or generate 0.0% return on investment in Petrolimex Petrochemical over 180 days. Petrolimex Petrochemical is related to or competes with FIT INVEST, Damsan JSC, An Phat, APG Securities, Binhthuan Agriculture, Mekong Fisheries, and Bentre Aquaproduct. More
Petrolimex Petrochemical 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 Petrochemical'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 Petrochemical JSC upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.33) | |||
| Maximum Drawdown | 9.2 | |||
| Value At Risk | (2.33) | |||
| Potential Upside | 1.94 |
Petrolimex Petrochemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Petrolimex Petrochemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Petrolimex Petrochemical's standard deviation. In reality, there are many statistical measures that can use Petrolimex Petrochemical historical prices to predict the future Petrolimex Petrochemical's volatility.| Risk Adjusted Performance | (0.18) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.61) | |||
| Treynor Ratio | 0.7073 |
Petrolimex Petrochemical Backtested Returns
Petrolimex Petrochemical maintains Sharpe Ratio (i.e., Efficiency) of -0.23, which implies the firm had a -0.23% return per unit of risk over the last 3 months. Petrolimex Petrochemical exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Petrolimex Petrochemical's Coefficient Of Variation of (404.00), variance of 2.22, and Risk Adjusted Performance of (0.18) to confirm the risk estimate we provide. The company holds a Beta of -0.53, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Petrolimex Petrochemical are expected to decrease at a much lower rate. During the bear market, Petrolimex Petrochemical is likely to outperform the market. At this point, Petrolimex Petrochemical has a negative expected return of -0.35%. Please make sure to check Petrolimex Petrochemical's value at risk, accumulation distribution, as well as the relationship between the Accumulation Distribution and day typical price , to decide if Petrolimex Petrochemical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.84 |
Very good predictability
Petrolimex Petrochemical JSC has very good predictability. Overlapping area represents the amount of predictability between Petrolimex Petrochemical time series from 30th of May 2024 to 28th of August 2024 and 28th of August 2024 to 26th 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 Petrochemical price movement. The serial correlation of 0.84 indicates that around 84.0% of current Petrolimex Petrochemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.84 | |
| Spearman Rank Test | 0.8 | |
| Residual Average | 0.0 | |
| Price Variance | 3.7 M |
Petrolimex Petrochemical lagged returns against current returns
Autocorrelation, which is Petrolimex Petrochemical 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 Petrochemical's stock expected returns. We can calculate the autocorrelation of Petrolimex Petrochemical returns to help us make a trade decision. For example, suppose you find that Petrolimex Petrochemical 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 Petrochemical 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 Petrochemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Petrolimex Petrochemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Petrolimex Petrochemical stock over time.
Current vs Lagged Prices |
| Timeline |
Petrolimex Petrochemical Lagged Returns
When evaluating Petrolimex Petrochemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Petrolimex Petrochemical stock have on its future price. Petrolimex Petrochemical 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 Petrochemical autocorrelation shows the relationship between Petrolimex Petrochemical stock current value and its past values and can show if there is a momentum factor associated with investing in Petrolimex Petrochemical JSC.
Regressed Prices |
| Timeline |
Pair Trading with Petrolimex Petrochemical
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 Petrochemical 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 Petrochemical will appreciate offsetting losses from the drop in the long position's value.Moving together with Petrolimex Stock
| 0.94 | ADS | Damsan JSC | PairCorr |
| 0.95 | AAA | An Phat Plastic | PairCorr |
| 0.85 | AME | Alphanam ME | PairCorr |
| 0.77 | APG | APG Securities Joint | PairCorr |
The ability to find closely correlated positions to Petrolimex Petrochemical 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 Petrochemical 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 Petrochemical - 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 Petrochemical JSC to buy it.
The correlation of Petrolimex Petrochemical 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 Petrochemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Petrolimex Petrochemical 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 Petrochemical 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 Petrochemical 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 Petrochemical security.