Refex Industries (India) Market Value
| REFEX Stock | 460.55 7.40 1.58% |
| Symbol | Refex |
Refex Industries '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 Refex Industries' 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 Refex Industries.
| 12/28/2024 |
| 01/27/2025 |
If you would invest 0.00 in Refex Industries on December 28, 2024 and sell it all today you would earn a total of 0.00 from holding Refex Industries Limited or generate 0.0% return on investment in Refex Industries over 30 days. Refex Industries is related to or competes with Garware Hi, Landmark Cars, Reliance Communications, Paramount Communications, ZF Commercial, Computer Age, and Pritish Nandy. More
Refex Industries 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 Refex Industries' 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 Refex Industries Limited upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 9.93 | |||
| Value At Risk | (4.62) | |||
| Potential Upside | 4.99 |
Refex Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Refex Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Refex Industries' standard deviation. In reality, there are many statistical measures that can use Refex Industries historical prices to predict the future Refex Industries' volatility.| Risk Adjusted Performance | 0.0034 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | (0.05) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Refex Industries' 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.
Refex Industries Backtested Returns
Refex Industries maintains Sharpe Ratio (i.e., Efficiency) of close to zero, which implies the firm had a close to zero % return per unit of risk over the last 3 months. Refex Industries exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Refex Industries' Risk Adjusted Performance of 0.0034, coefficient of variation of (26,108), and Variance of 6.21 to confirm the risk estimate we provide. The company holds a Beta of 0.36, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Refex Industries' returns are expected to increase less than the market. However, during the bear market, the loss of holding Refex Industries is expected to be smaller as well. At this point, Refex Industries has a negative expected return of -0.0112%. Please make sure to check Refex Industries' value at risk, as well as the relationship between the daily balance of power and price action indicator , to decide if Refex Industries performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.49 |
Modest reverse predictability
Refex Industries Limited has modest reverse predictability. Overlapping area represents the amount of predictability between Refex Industries time series from 28th of December 2024 to 12th of January 2025 and 12th of January 2025 to 27th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Refex Industries price movement. The serial correlation of -0.49 indicates that about 49.0% of current Refex Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.49 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 110.59 |
Refex Industries lagged returns against current returns
Autocorrelation, which is Refex Industries 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 Refex Industries' stock expected returns. We can calculate the autocorrelation of Refex Industries returns to help us make a trade decision. For example, suppose you find that Refex Industries 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 |
Refex Industries 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 Refex Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Refex Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Refex Industries stock over time.
Current vs Lagged Prices |
| Timeline |
Refex Industries Lagged Returns
When evaluating Refex Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Refex Industries stock have on its future price. Refex Industries 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, Refex Industries autocorrelation shows the relationship between Refex Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Refex Industries Limited.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Refex Stock
Refex Industries financial ratios help investors to determine whether Refex 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 Refex with respect to the benefits of owning Refex Industries security.