PRECISION DRILLING (Germany) Market Value
| PRE1 Stock | EUR 58.50 2.50 4.10% |
| Symbol | PRECISION |
PRECISION DRILLING '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 PRECISION DRILLING'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 PRECISION DRILLING.
| 12/05/2023 |
| 11/29/2024 |
If you would invest 0.00 in PRECISION DRILLING on December 5, 2023 and sell it all today you would earn a total of 0.00 from holding PRECISION DRILLING P or generate 0.0% return on investment in PRECISION DRILLING over 360 days. PRECISION DRILLING is related to or competes with Air Transport, EVS Broadcast, Coeur Mining, AGF Management, MCEWEN MINING, and Liberty Broadband. Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products... More
PRECISION DRILLING 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 PRECISION DRILLING'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 PRECISION DRILLING P upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 10.09 | |||
| Value At Risk | (4.13) | |||
| Potential Upside | 4.27 |
PRECISION DRILLING Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PRECISION DRILLING's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PRECISION DRILLING's standard deviation. In reality, there are many statistical measures that can use PRECISION DRILLING historical prices to predict the future PRECISION DRILLING's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | 1.08 |
PRECISION DRILLING Backtested Returns
PRECISION DRILLING maintains Sharpe Ratio (i.e., Efficiency) of -0.0542, which implies the firm had a -0.0542% return per unit of risk over the last 3 months. PRECISION DRILLING exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PRECISION DRILLING's Risk Adjusted Performance of (0.03), coefficient of variation of (2,305), and Mean Deviation of 1.74 to confirm the risk estimate we provide. The company holds a Beta of -0.11, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning PRECISION DRILLING are expected to decrease at a much lower rate. During the bear market, PRECISION DRILLING is likely to outperform the market. At this point, PRECISION DRILLING has a negative expected return of -0.13%. Please make sure to check PRECISION DRILLING's standard deviation, information ratio, total risk alpha, as well as the relationship between the variance and jensen alpha , to decide if PRECISION DRILLING performance from the past will be repeated at future time.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
PRECISION DRILLING P has almost perfect reverse predictability. Overlapping area represents the amount of predictability between PRECISION DRILLING time series from 5th of December 2023 to 2nd of June 2024 and 2nd of June 2024 to 29th of November 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 PRECISION DRILLING price movement. The serial correlation of -0.72 indicates that around 72.0% of current PRECISION DRILLING price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 17.41 |
PRECISION DRILLING lagged returns against current returns
Autocorrelation, which is PRECISION DRILLING 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 PRECISION DRILLING's stock expected returns. We can calculate the autocorrelation of PRECISION DRILLING returns to help us make a trade decision. For example, suppose you find that PRECISION DRILLING 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 |
PRECISION DRILLING 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 PRECISION DRILLING stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PRECISION DRILLING stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PRECISION DRILLING stock over time.
Current vs Lagged Prices |
| Timeline |
PRECISION DRILLING Lagged Returns
When evaluating PRECISION DRILLING's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PRECISION DRILLING stock have on its future price. PRECISION DRILLING 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, PRECISION DRILLING autocorrelation shows the relationship between PRECISION DRILLING stock current value and its past values and can show if there is a momentum factor associated with investing in PRECISION DRILLING P.
Regressed Prices |
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Currently Active Assets on Macroaxis
Other Information on Investing in PRECISION Stock
PRECISION DRILLING financial ratios help investors to determine whether PRECISION 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 PRECISION with respect to the benefits of owning PRECISION DRILLING security.