WESTLAKE CHEM P Market Value
| 960413AS1 | 84.62 4.18 4.71% |
| Symbol | WESTLAKE |
WESTLAKE '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 WESTLAKE's bond 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 WESTLAKE.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in WESTLAKE on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding WESTLAKE CHEM P or generate 0.0% return on investment in WESTLAKE over 270 days. WESTLAKE is related to or competes with Flexible Solutions, GMS, Griffon, Jacobs Solutions, Harmony Gold, Eldorado Gold, and Primoris Services. More
WESTLAKE 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 WESTLAKE's bond 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 WESTLAKE CHEM P upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 14.23 | |||
| Value At Risk | (2.12) | |||
| Potential Upside | 2.43 |
WESTLAKE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for WESTLAKE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as WESTLAKE's standard deviation. In reality, there are many statistical measures that can use WESTLAKE historical prices to predict the future WESTLAKE's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.35) | |||
| Treynor Ratio | 0.528 |
WESTLAKE CHEM P Backtested Returns
WESTLAKE CHEM P shows Sharpe Ratio of -0.19, which attests that the bond had a -0.19% return per unit of risk over the last 3 months. WESTLAKE CHEM P exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out WESTLAKE's Market Risk Adjusted Performance of 0.538, standard deviation of 1.74, and Mean Deviation of 1.02 to validate the risk estimate we provide. The entity maintains a market beta of -0.15, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning WESTLAKE are expected to decrease at a much lower rate. During the bear market, WESTLAKE is likely to outperform the market.
Auto-correlation | 0.07 |
Virtually no predictability
WESTLAKE CHEM P has virtually no predictability. Overlapping area represents the amount of predictability between WESTLAKE time series from 27th of February 2024 to 11th of July 2024 and 11th of July 2024 to 23rd 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 WESTLAKE CHEM P price movement. The serial correlation of 0.07 indicates that barely 7.0% of current WESTLAKE price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.07 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 6.56 |
WESTLAKE CHEM P lagged returns against current returns
Autocorrelation, which is WESTLAKE bond'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 WESTLAKE's bond expected returns. We can calculate the autocorrelation of WESTLAKE returns to help us make a trade decision. For example, suppose you find that WESTLAKE has exhibited high autocorrelation historically, and you observe that the bond 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 |
WESTLAKE 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 WESTLAKE bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if WESTLAKE bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in WESTLAKE bond over time.
Current vs Lagged Prices |
| Timeline |
WESTLAKE Lagged Returns
When evaluating WESTLAKE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of WESTLAKE bond have on its future price. WESTLAKE 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, WESTLAKE autocorrelation shows the relationship between WESTLAKE bond current value and its past values and can show if there is a momentum factor associated with investing in WESTLAKE CHEM P.
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 WESTLAKE Bond
WESTLAKE financial ratios help investors to determine whether WESTLAKE Bond 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 WESTLAKE with respect to the benefits of owning WESTLAKE security.