Occidental Petroleum (Germany) Market Value
| OPC Stock | 46.15 0.39 0.85% |
| Symbol | Occidental |
Occidental Petroleum '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 Occidental Petroleum'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 Occidental Petroleum.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Occidental Petroleum on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Occidental Petroleum or generate 0.0% return on investment in Occidental Petroleum over 30 days. Occidental Petroleum is related to or competes with SCANSOURCE, Lion One, Tsingtao Brewery, JAPAN AIRLINES, Aegean Airlines, and Southwest Airlines. More
Occidental Petroleum 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 Occidental Petroleum'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 Occidental Petroleum upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.68 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 9.28 | |||
| Value At Risk | (2.87) | |||
| Potential Upside | 2.62 |
Occidental Petroleum Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Occidental Petroleum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Occidental Petroleum's standard deviation. In reality, there are many statistical measures that can use Occidental Petroleum historical prices to predict the future Occidental Petroleum's volatility.| Risk Adjusted Performance | 0.0219 | |||
| Jensen Alpha | 0.0312 | |||
| Total Risk Alpha | (0.25) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | (1.25) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Occidental Petroleum'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.
Occidental Petroleum Backtested Returns
Currently, Occidental Petroleum is very steady. Occidental Petroleum maintains Sharpe Ratio (i.e., Efficiency) of 0.0076, which implies the firm had a 0.0076% return per unit of risk over the last 3 months. We have found thirty technical indicators for Occidental Petroleum, which you can use to evaluate the volatility of the company. Please check Occidental Petroleum's Coefficient Of Variation of 4493.95, semi deviation of 1.6, and Risk Adjusted Performance of 0.0219 to confirm if the risk estimate we provide is consistent with the expected return of 0.0132%. The company holds a Beta of -0.0228, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Occidental Petroleum are expected to decrease at a much lower rate. During the bear market, Occidental Petroleum is likely to outperform the market. Occidental Petroleum right now holds a risk of 1.74%. Please check Occidental Petroleum downside variance, day median price, and the relationship between the treynor ratio and kurtosis , to decide if Occidental Petroleum will be following its historical price patterns.
Auto-correlation | -0.69 |
Very good reverse predictability
Occidental Petroleum has very good reverse predictability. Overlapping area represents the amount of predictability between Occidental Petroleum 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 Occidental Petroleum price movement. The serial correlation of -0.69 indicates that around 69.0% of current Occidental Petroleum price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.97 |
Occidental Petroleum lagged returns against current returns
Autocorrelation, which is Occidental Petroleum 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 Occidental Petroleum's stock expected returns. We can calculate the autocorrelation of Occidental Petroleum returns to help us make a trade decision. For example, suppose you find that Occidental Petroleum 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 |
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Occidental Petroleum 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 Occidental Petroleum stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Occidental Petroleum stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Occidental Petroleum stock over time.
Current vs Lagged Prices |
| Timeline |
Occidental Petroleum Lagged Returns
When evaluating Occidental Petroleum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Occidental Petroleum stock have on its future price. Occidental Petroleum 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, Occidental Petroleum autocorrelation shows the relationship between Occidental Petroleum stock current value and its past values and can show if there is a momentum factor associated with investing in Occidental Petroleum.
Regressed Prices |
| Timeline |
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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.Additional Tools for Occidental Stock Analysis
When running Occidental Petroleum's price analysis, check to measure Occidental Petroleum'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 Occidental Petroleum is operating at the current time. Most of Occidental Petroleum's value examination focuses on studying past and present price action to predict the probability of Occidental Petroleum's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Occidental Petroleum's price. Additionally, you may evaluate how the addition of Occidental Petroleum to your portfolios can decrease your overall portfolio volatility.