Zions Bancorporation National Preferred Stock Market Value
| ZIONP Preferred Stock | USD 23.59 0.09 0.38% |
| Symbol | Zions |
Zions Bancorporation '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 Zions Bancorporation's preferred 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 Zions Bancorporation.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Zions Bancorporation on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Zions Bancorporation National or generate 0.0% return on investment in Zions Bancorporation over 30 days. Zions Bancorporation is related to or competes with Capital One, Capital One, Bank of America, and KeyCorp. Zions Bancorporation, National Association provides various banking and related services primarily in the states of Ariz... More
Zions Bancorporation 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 Zions Bancorporation's preferred 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 Zions Bancorporation National upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6197 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 2.51 | |||
| Value At Risk | (0.97) | |||
| Potential Upside | 1.17 |
Zions Bancorporation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zions Bancorporation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zions Bancorporation's standard deviation. In reality, there are many statistical measures that can use Zions Bancorporation historical prices to predict the future Zions Bancorporation's volatility.| Risk Adjusted Performance | 0.087 | |||
| Jensen Alpha | 0.0486 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.4132 |
Zions Bancorporation Backtested Returns
Currently, Zions Bancorporation National is very steady. Zions Bancorporation shows Sharpe Ratio of 0.11, which attests that the company had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Zions Bancorporation, which you can use to evaluate the volatility of the company. Please check out Zions Bancorporation's Mean Deviation of 0.515, downside deviation of 0.6197, and Market Risk Adjusted Performance of 0.4232 to validate if the risk estimate we provide is consistent with the expected return of 0.0661%. Zions Bancorporation has a performance score of 8 on a scale of 0 to 100. The firm maintains a market beta of 0.15, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Zions Bancorporation's returns are expected to increase less than the market. However, during the bear market, the loss of holding Zions Bancorporation is expected to be smaller as well. Zions Bancorporation right now maintains a risk of 0.62%. Please check out Zions Bancorporation potential upside, as well as the relationship between the kurtosis and day typical price , to decide if Zions Bancorporation will be following its historical returns.
Auto-correlation | 0.59 |
Modest predictability
Zions Bancorporation National has modest predictability. Overlapping area represents the amount of predictability between Zions Bancorporation time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Zions Bancorporation price movement. The serial correlation of 0.59 indicates that roughly 59.0% of current Zions Bancorporation price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.59 | |
| Spearman Rank Test | 0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Zions Bancorporation lagged returns against current returns
Autocorrelation, which is Zions Bancorporation preferred 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 Zions Bancorporation's preferred stock expected returns. We can calculate the autocorrelation of Zions Bancorporation returns to help us make a trade decision. For example, suppose you find that Zions Bancorporation has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Zions Bancorporation 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 Zions Bancorporation preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zions Bancorporation preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zions Bancorporation preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Zions Bancorporation Lagged Returns
When evaluating Zions Bancorporation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zions Bancorporation preferred stock have on its future price. Zions Bancorporation 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, Zions Bancorporation autocorrelation shows the relationship between Zions Bancorporation preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Zions Bancorporation National.
Regressed Prices |
| Timeline |
Pair Trading with Zions Bancorporation
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 Zions Bancorporation 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 Zions Bancorporation will appreciate offsetting losses from the drop in the long position's value.Moving together with Zions Preferred Stock
| 0.9 | AX | Axos Financial | PairCorr |
| 0.88 | BY | Byline Bancorp Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.88 | PB | Prosperity Bancshares Fiscal Year End 22nd of January 2025 | PairCorr |
Moving against Zions Preferred Stock
| 0.7 | CFG-PE | Citizens Financial | PairCorr |
| 0.62 | TFC-PO | Truist Financial | PairCorr |
| 0.61 | TFC-PR | Truist Financial | PairCorr |
The ability to find closely correlated positions to Zions Bancorporation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zions Bancorporation 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 Zions Bancorporation - 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 Zions Bancorporation National to buy it.
The correlation of Zions Bancorporation 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 Zions Bancorporation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Zions Bancorporation 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 Zions Bancorporation 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.Additional Tools for Zions Preferred Stock Analysis
When running Zions Bancorporation's price analysis, check to measure Zions Bancorporation's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Zions Bancorporation is operating at the current time. Most of Zions Bancorporation's value examination focuses on studying past and present price action to predict the probability of Zions Bancorporation's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Zions Bancorporation's price. Additionally, you may evaluate how the addition of Zions Bancorporation to your portfolios can decrease your overall portfolio volatility.