UNION PAC P Market Value
| 907818ES3 | 97.52 0.72 0.73% |
| Symbol | UNION |
UNION '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 UNION'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 UNION.
| 05/04/2024 |
| 06/03/2024 |
If you would invest 0.00 in UNION on May 4, 2024 and sell it all today you would earn a total of 0.00 from holding UNION PAC P or generate 0.0% return on investment in UNION over 30 days. UNION is related to or competes with 00108WAF7, 90331HPL1, Sanlam, Sunrun, Carlisle Companies, Transcode Therapeutics, and Ubiquiti Networks. More
UNION 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 UNION'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 UNION PAC P upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.28 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 26.53 | |||
| Value At Risk | (0.97) | |||
| Potential Upside | 0.3672 |
UNION Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for UNION's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as UNION's standard deviation. In reality, there are many statistical measures that can use UNION historical prices to predict the future UNION's volatility.| Risk Adjusted Performance | 0.0118 | |||
| Jensen Alpha | 0.0033 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0673 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of UNION'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.
UNION PAC P Backtested Returns
UNION PAC P owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0555, which indicates the bond had a -0.0555% return per unit of volatility over the last 3 months. UNION PAC P exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate UNION's coefficient of variation of 14181.86, and Risk Adjusted Performance of 0.0118 to confirm the risk estimate we provide. The entity has a beta of 0.1, which indicates not very significant fluctuations relative to the market. As returns on the market increase, UNION's returns are expected to increase less than the market. However, during the bear market, the loss of holding UNION is expected to be smaller as well.
Auto-correlation | -0.62 |
Very good reverse predictability
UNION PAC P has very good reverse predictability. Overlapping area represents the amount of predictability between UNION time series from 4th of May 2024 to 19th of May 2024 and 19th of May 2024 to 3rd of June 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 UNION PAC P price movement. The serial correlation of -0.62 indicates that roughly 62.0% of current UNION price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.62 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
UNION PAC P lagged returns against current returns
Autocorrelation, which is UNION 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 UNION's bond expected returns. We can calculate the autocorrelation of UNION returns to help us make a trade decision. For example, suppose you find that UNION 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 |
UNION 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 UNION bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if UNION bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in UNION bond over time.
Current vs Lagged Prices |
| Timeline |
UNION Lagged Returns
When evaluating UNION's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of UNION bond have on its future price. UNION 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, UNION autocorrelation shows the relationship between UNION bond current value and its past values and can show if there is a momentum factor associated with investing in UNION PAC 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.Check out UNION Correlation, UNION Volatility and UNION Alpha and Beta module to complement your research on UNION. Note that the UNION PAC P information on this page should be used as a complementary analysis to other UNION's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
UNION technical bond 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, bond market cycles, or different charting patterns.