Wah Nobel (Pakistan) Market Value
| WAHN Stock | 220.24 0.45 0.20% |
| Symbol | Wah |
Wah Nobel '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 Wah Nobel'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 Wah Nobel.
| 02/04/2023 |
| 11/25/2024 |
If you would invest 0.00 in Wah Nobel on February 4, 2023 and sell it all today you would earn a total of 0.00 from holding Wah Nobel Chemicals or generate 0.0% return on investment in Wah Nobel over 660 days. Wah Nobel is related to or competes with Unilever Pakistan, WorldCall Telecom, TPL Insurance, NetSol Technologies, EFU General, and Pakistan Synthetics. More
Wah Nobel 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 Wah Nobel'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 Wah Nobel Chemicals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.64 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 13.88 | |||
| Value At Risk | (2.50) | |||
| Potential Upside | 4.32 |
Wah Nobel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wah Nobel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wah Nobel's standard deviation. In reality, there are many statistical measures that can use Wah Nobel historical prices to predict the future Wah Nobel's volatility.| Risk Adjusted Performance | 0.0105 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.38) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0043 |
Wah Nobel Chemicals Backtested Returns
Wah Nobel Chemicals shows Sharpe Ratio of -0.0138, which attests that the company had a -0.0138% return per unit of risk over the last 3 months. Wah Nobel Chemicals exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wah Nobel's Downside Deviation of 2.64, market risk adjusted performance of 0.0143, and Mean Deviation of 1.56 to validate the risk estimate we provide. The firm maintains a market beta of 0.36, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Wah Nobel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wah Nobel is expected to be smaller as well. At this point, Wah Nobel Chemicals has a negative expected return of -0.0336%. Please make sure to check out Wah Nobel's total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to decide if Wah Nobel Chemicals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.67 |
Good predictability
Wah Nobel Chemicals has good predictability. Overlapping area represents the amount of predictability between Wah Nobel time series from 4th of February 2023 to 31st of December 2023 and 31st of December 2023 to 25th 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 Wah Nobel Chemicals price movement. The serial correlation of 0.67 indicates that around 67.0% of current Wah Nobel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 277.26 |
Wah Nobel Chemicals lagged returns against current returns
Autocorrelation, which is Wah Nobel 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 Wah Nobel's stock expected returns. We can calculate the autocorrelation of Wah Nobel returns to help us make a trade decision. For example, suppose you find that Wah Nobel 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 |
Wah Nobel 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 Wah Nobel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wah Nobel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wah Nobel stock over time.
Current vs Lagged Prices |
| Timeline |
Wah Nobel Lagged Returns
When evaluating Wah Nobel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wah Nobel stock have on its future price. Wah Nobel 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, Wah Nobel autocorrelation shows the relationship between Wah Nobel stock current value and its past values and can show if there is a momentum factor associated with investing in Wah Nobel Chemicals.
Regressed Prices |
| Timeline |
Pair Trading with Wah Nobel
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 Wah Nobel 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 Wah Nobel will appreciate offsetting losses from the drop in the long position's value.Moving against Wah Stock
The ability to find closely correlated positions to Wah Nobel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wah Nobel 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 Wah Nobel - 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 Wah Nobel Chemicals to buy it.
The correlation of Wah Nobel 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 Wah Nobel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wah Nobel Chemicals 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 Wah Nobel 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 Wah Stock
Wah Nobel financial ratios help investors to determine whether Wah 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 Wah with respect to the benefits of owning Wah Nobel security.