AirAsia X (Malaysia) Market Value
| 5238 Stock | 1.90 0.02 1.04% |
| Symbol | AirAsia |
AirAsia X '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 AirAsia X'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 AirAsia X.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in AirAsia X on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding AirAsia X Bhd or generate 0.0% return on investment in AirAsia X over 30 days. AirAsia X is related to or competes with Malayan Banking, Public Bank, Petronas Chemicals, Tenaga Nasional, IHH Healthcare, Hong Leong, and Press Metal. More
AirAsia X 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 AirAsia X'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 AirAsia X Bhd upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.74 | |||
| Information Ratio | 0.1723 | |||
| Maximum Drawdown | 14.89 | |||
| Value At Risk | (4.57) | |||
| Potential Upside | 6.78 |
AirAsia X Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AirAsia X's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AirAsia X's standard deviation. In reality, there are many statistical measures that can use AirAsia X historical prices to predict the future AirAsia X's volatility.| Risk Adjusted Performance | 0.1619 | |||
| Jensen Alpha | 0.6959 | |||
| Total Risk Alpha | 0.1563 | |||
| Sortino Ratio | 0.19 | |||
| Treynor Ratio | (1.19) |
AirAsia X Bhd Backtested Returns
AirAsia X appears to be very risky, given 3 months investment horizon. AirAsia X Bhd secures Sharpe Ratio (or Efficiency) of 0.19, which signifies that the company had a 0.19% return per unit of risk over the last 3 months. By analyzing AirAsia X's technical indicators, you can evaluate if the expected return of 0.58% is justified by implied risk. Please makes use of AirAsia X's Risk Adjusted Performance of 0.1619, mean deviation of 2.27, and Downside Deviation of 2.74 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, AirAsia X holds a performance score of 14. The firm shows a Beta (market volatility) of -0.53, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning AirAsia X are expected to decrease at a much lower rate. During the bear market, AirAsia X is likely to outperform the market. Please check AirAsia X's jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to make a quick decision on whether AirAsia X's price patterns will revert.
Auto-correlation | -0.55 |
Good reverse predictability
AirAsia X Bhd has good reverse predictability. Overlapping area represents the amount of predictability between AirAsia X time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th of December 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 AirAsia X Bhd price movement. The serial correlation of -0.55 indicates that about 55.0% of current AirAsia X price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.55 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
AirAsia X Bhd lagged returns against current returns
Autocorrelation, which is AirAsia X 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 AirAsia X's stock expected returns. We can calculate the autocorrelation of AirAsia X returns to help us make a trade decision. For example, suppose you find that AirAsia X 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 |
AirAsia X 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 AirAsia X stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AirAsia X stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AirAsia X stock over time.
Current vs Lagged Prices |
| Timeline |
AirAsia X Lagged Returns
When evaluating AirAsia X's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AirAsia X stock have on its future price. AirAsia X 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, AirAsia X autocorrelation shows the relationship between AirAsia X stock current value and its past values and can show if there is a momentum factor associated with investing in AirAsia X Bhd.
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 AirAsia Stock
AirAsia X financial ratios help investors to determine whether AirAsia 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 AirAsia with respect to the benefits of owning AirAsia X security.