United Drilling (India) Market Value
| UNIDT Stock | 238.07 3.53 1.51% |
| Symbol | United |
United Drilling '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 United Drilling'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 United Drilling.
| 09/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in United Drilling on September 29, 2024 and sell it all today you would earn a total of 0.00 from holding United Drilling Tools or generate 0.0% return on investment in United Drilling over 60 days. United Drilling is related to or competes with Digjam, Gujarat Raffia, Piramal Enterprises, ABM International, Consolidated Construction, and PB Fintech. United Drilling is entity of India. It is traded as Stock on NSE exchange. More
United Drilling 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 United Drilling'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 United Drilling Tools upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 10.34 | |||
| Value At Risk | (4.20) | |||
| Potential Upside | 3.2 |
United Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for United Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as United Drilling's standard deviation. In reality, there are many statistical measures that can use United Drilling historical prices to predict the future United Drilling's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.48) | |||
| Treynor Ratio | 0.987 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of United Drilling'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.
United Drilling Tools Backtested Returns
United Drilling Tools owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0424, which indicates the firm had a -0.0424% return per unit of risk over the last 3 months. United Drilling Tools exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate United Drilling's Risk Adjusted Performance of (0.04), coefficient of variation of (1,499), and Variance of 4.64 to confirm the risk estimate we provide. The entity has a beta of -0.16, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning United Drilling are expected to decrease at a much lower rate. During the bear market, United Drilling is likely to outperform the market. At this point, United Drilling Tools has a negative expected return of -0.0927%. Please make sure to validate United Drilling's potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if United Drilling Tools performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.02 |
Very weak reverse predictability
United Drilling Tools has very weak reverse predictability. Overlapping area represents the amount of predictability between United Drilling time series from 29th of September 2024 to 29th of October 2024 and 29th of October 2024 to 28th 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 United Drilling Tools price movement. The serial correlation of -0.02 indicates that only 2.0% of current United Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | -0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 33.09 |
United Drilling Tools lagged returns against current returns
Autocorrelation, which is United Drilling 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 United Drilling's stock expected returns. We can calculate the autocorrelation of United Drilling returns to help us make a trade decision. For example, suppose you find that United Drilling 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 |
United Drilling 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 United Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if United Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in United Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
United Drilling Lagged Returns
When evaluating United Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of United Drilling stock have on its future price. United Drilling 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, United Drilling autocorrelation shows the relationship between United Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in United Drilling Tools.
Regressed Prices |
| Timeline |
Also Currently Popular
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 United Stock
United Drilling financial ratios help investors to determine whether United 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 United with respect to the benefits of owning United Drilling security.