PATRICK INDUSTR (Germany) Market Value
| PK2 Stock | 80.00 0.50 0.62% |
| Symbol | PATRICK |
PATRICK INDUSTR '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 PATRICK INDUSTR'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 PATRICK INDUSTR.
| 11/23/2024 |
| 12/23/2024 |
If you would invest 0.00 in PATRICK INDUSTR on November 23, 2024 and sell it all today you would earn a total of 0.00 from holding PATRICK INDUSTR or generate 0.0% return on investment in PATRICK INDUSTR over 30 days. PATRICK INDUSTR is related to or competes with Apple, Apple, Apple, Apple, Apple, Apple, and Microsoft. More
PATRICK INDUSTR 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 PATRICK INDUSTR'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 PATRICK INDUSTR upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 11.7 | |||
| Value At Risk | (3.08) | |||
| Potential Upside | 3.88 |
PATRICK INDUSTR Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PATRICK INDUSTR's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PATRICK INDUSTR's standard deviation. In reality, there are many statistical measures that can use PATRICK INDUSTR historical prices to predict the future PATRICK INDUSTR's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.17) | |||
| Treynor Ratio | (0.28) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of PATRICK INDUSTR'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.
PATRICK INDUSTR Backtested Returns
PATRICK INDUSTR maintains Sharpe Ratio (i.e., Efficiency) of -0.0284, which implies the company had a -0.0284% return per unit of standard deviation over the last 3 months. PATRICK INDUSTR exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PATRICK INDUSTR's Mean Deviation of 1.61, variance of 5.42, and Market Risk Adjusted Performance of (0.27) to confirm the risk estimate we provide. The firm holds a Beta of 0.39, which implies possible diversification benefits within a given portfolio. As returns on the market increase, PATRICK INDUSTR's returns are expected to increase less than the market. However, during the bear market, the loss of holding PATRICK INDUSTR is expected to be smaller as well. At this point, PATRICK INDUSTR has a negative expected return of -0.0657%. Please make sure to check PATRICK INDUSTR's daily balance of power, and the relationship between the skewness and day median price , to decide if PATRICK INDUSTR performance from the past will be repeated at future time.
Auto-correlation | -0.13 |
Insignificant reverse predictability
PATRICK INDUSTR has insignificant reverse predictability. Overlapping area represents the amount of predictability between PATRICK INDUSTR time series from 23rd of November 2024 to 8th of December 2024 and 8th of December 2024 to 23rd 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 PATRICK INDUSTR price movement. The serial correlation of -0.13 indicates that less than 13.0% of current PATRICK INDUSTR price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.13 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 5.38 |
PATRICK INDUSTR lagged returns against current returns
Autocorrelation, which is PATRICK INDUSTR 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 PATRICK INDUSTR's stock expected returns. We can calculate the autocorrelation of PATRICK INDUSTR returns to help us make a trade decision. For example, suppose you find that PATRICK INDUSTR 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 |
PATRICK INDUSTR 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 PATRICK INDUSTR stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PATRICK INDUSTR stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PATRICK INDUSTR stock over time.
Current vs Lagged Prices |
| Timeline |
PATRICK INDUSTR Lagged Returns
When evaluating PATRICK INDUSTR's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PATRICK INDUSTR stock have on its future price. PATRICK INDUSTR 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, PATRICK INDUSTR autocorrelation shows the relationship between PATRICK INDUSTR stock current value and its past values and can show if there is a momentum factor associated with investing in PATRICK INDUSTR.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for PATRICK Stock Analysis
When running PATRICK INDUSTR's price analysis, check to measure PATRICK INDUSTR'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 PATRICK INDUSTR is operating at the current time. Most of PATRICK INDUSTR's value examination focuses on studying past and present price action to predict the probability of PATRICK INDUSTR's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PATRICK INDUSTR's price. Additionally, you may evaluate how the addition of PATRICK INDUSTR to your portfolios can decrease your overall portfolio volatility.