Alumina Limited Pk Stock Market Value
| AWCMY Stock | USD 3.98 0.03 0.75% |
| Symbol | Alumina |
Alumina Limited '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 Alumina Limited's otc 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 Alumina Limited.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Alumina Limited on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Alumina Limited PK or generate 0.0% return on investment in Alumina Limited over 30 days. Alumina Limited is related to or competes with Adriatic Metals, and Amarc Resources. Alumina Limited, through its 40 percent interest in Alcoa World Alumina and Chemicals, engages in bauxite mining, alumin... More
Alumina Limited 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 Alumina Limited's otc 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 Alumina Limited PK upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.39 | |||
| Information Ratio | 0.2058 | |||
| Maximum Drawdown | 14.21 | |||
| Value At Risk | (3.30) | |||
| Potential Upside | 5.79 |
Alumina Limited Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alumina Limited's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alumina Limited's standard deviation. In reality, there are many statistical measures that can use Alumina Limited historical prices to predict the future Alumina Limited's volatility.| Risk Adjusted Performance | 0.1573 | |||
| Jensen Alpha | 0.5838 | |||
| Total Risk Alpha | 0.2792 | |||
| Sortino Ratio | 0.2415 | |||
| Treynor Ratio | 0.71 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alumina Limited'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.
Alumina Limited PK Backtested Returns
Alumina Limited appears to be slightly risky, given 3 months investment horizon. Alumina Limited PK secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of risk over the last 3 months. By analyzing Alumina Limited's technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please makes use of Alumina Limited's Mean Deviation of 2.1, risk adjusted performance of 0.1573, and Downside Deviation of 2.39 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Alumina Limited holds a performance score of 14. The firm shows a Beta (market volatility) of 0.93, which signifies possible diversification benefits within a given portfolio. Alumina Limited returns are very sensitive to returns on the market. As the market goes up or down, Alumina Limited is expected to follow. Please check Alumina Limited's potential upside, as well as the relationship between the accumulation distribution and price action indicator , to make a quick decision on whether Alumina Limited's price patterns will revert.
Auto-correlation | 0.48 |
Average predictability
Alumina Limited PK has average predictability. Overlapping area represents the amount of predictability between Alumina Limited time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 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 Alumina Limited PK price movement. The serial correlation of 0.48 indicates that about 48.0% of current Alumina Limited price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Alumina Limited PK lagged returns against current returns
Autocorrelation, which is Alumina Limited otc 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 Alumina Limited's otc stock expected returns. We can calculate the autocorrelation of Alumina Limited returns to help us make a trade decision. For example, suppose you find that Alumina Limited has exhibited high autocorrelation historically, and you observe that the otc 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 |
Alumina Limited 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 Alumina Limited otc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alumina Limited otc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alumina Limited otc stock over time.
Current vs Lagged Prices |
| Timeline |
Alumina Limited Lagged Returns
When evaluating Alumina Limited's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alumina Limited otc stock have on its future price. Alumina Limited 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, Alumina Limited autocorrelation shows the relationship between Alumina Limited otc stock current value and its past values and can show if there is a momentum factor associated with investing in Alumina Limited PK.
Regressed Prices |
| Timeline |
Pair Trading with Alumina Limited
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 Alumina Limited 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 Alumina Limited will appreciate offsetting losses from the drop in the long position's value.Moving together with Alumina OTC Stock
| 0.91 | CHKEZ | Chesapeake Energy | PairCorr |
| 0.64 | CHKEW | Chesapeake Energy | PairCorr |
| 0.89 | CHKEL | Chesapeake Energy | PairCorr |
Moving against Alumina OTC Stock
| 0.93 | ASTSW | AST SpaceMobile | PairCorr |
| 0.76 | AAPL | Apple Inc Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Alumina Limited could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alumina Limited 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 Alumina Limited - 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 Alumina Limited PK to buy it.
The correlation of Alumina Limited 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 Alumina Limited moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alumina Limited PK 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 Alumina Limited 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.Check out Alumina Limited Correlation, Alumina Limited Volatility and Alumina Limited Alpha and Beta module to complement your research on Alumina Limited. You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for Alumina OTC Stock analysis
When running Alumina Limited's price analysis, check to measure Alumina Limited'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 Alumina Limited is operating at the current time. Most of Alumina Limited's value examination focuses on studying past and present price action to predict the probability of Alumina Limited's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Alumina Limited's price. Additionally, you may evaluate how the addition of Alumina Limited to your portfolios can decrease your overall portfolio volatility.
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals |
Alumina Limited technical otc stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, otc market cycles, or different charting patterns.