Parex Resources Stock Market Value
| PXT Stock | CAD 24.23 0.03 0.12% |
| Symbol | Parex |
Parex Resources Price To Book Ratio
Parex Resources '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 Parex Resources' 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 Parex Resources.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Parex Resources on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Parex Resources or generate 0.0% return on investment in Parex Resources over 30 days. Parex Resources is related to or competes with Forsys Metals, Pinetree Capital, and Aston Bay. Parex Resources Inc. engages in the exploration, development, production of oil and natural gas in Colombia More
Parex Resources 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 Parex Resources' 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 Parex Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.44 | |||
| Information Ratio | 0.0585 | |||
| Maximum Drawdown | 9.91 | |||
| Value At Risk | (3.17) | |||
| Potential Upside | 2.11 |
Parex Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parex Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parex Resources' standard deviation. In reality, there are many statistical measures that can use Parex Resources historical prices to predict the future Parex Resources' volatility.| Risk Adjusted Performance | 0.0776 | |||
| Jensen Alpha | 0.1277 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.0412 | |||
| Treynor Ratio | 0.2732 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Parex Resources' 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.
Parex Resources Backtested Returns
We consider Parex Resources very steady. Parex Resources maintains Sharpe Ratio (i.e., Efficiency) of 0.0696, which implies the firm had a 0.0696% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Parex Resources, which you can use to evaluate the volatility of the company. Please check Parex Resources' Coefficient Of Variation of 875.9, risk adjusted performance of 0.0776, and Semi Deviation of 2.14 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. Parex Resources has a performance score of 5 on a scale of 0 to 100. The company holds a Beta of 0.68, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Parex Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding Parex Resources is expected to be smaller as well. Parex Resources right now holds a risk of 1.71%. Please check Parex Resources expected short fall, and the relationship between the value at risk and daily balance of power , to decide if Parex Resources will be following its historical price patterns.
Auto-correlation | 0.81 |
Very good predictability
Parex Resources has very good predictability. Overlapping area represents the amount of predictability between Parex Resources time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 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 Parex Resources price movement. The serial correlation of 0.81 indicates that around 81.0% of current Parex Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.81 | |
| Spearman Rank Test | 0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Parex Resources lagged returns against current returns
Autocorrelation, which is Parex Resources 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 Parex Resources' stock expected returns. We can calculate the autocorrelation of Parex Resources returns to help us make a trade decision. For example, suppose you find that Parex Resources 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 |
Parex Resources 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 Parex Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parex Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parex Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Parex Resources Lagged Returns
When evaluating Parex Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parex Resources stock have on its future price. Parex Resources 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, Parex Resources autocorrelation shows the relationship between Parex Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Parex Resources.
Regressed Prices |
| Timeline |
Becoming a Better Investor with Macroaxis
Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as Parex Resources using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.Build Optimal Portfolios
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Check out Parex Resources Correlation, Parex Resources Volatility and Parex Resources Alpha and Beta module to complement your research on Parex Resources. You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Parex Stock analysis
When running Parex Resources' price analysis, check to measure Parex Resources' 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 Parex Resources is operating at the current time. Most of Parex Resources' value examination focuses on studying past and present price action to predict the probability of Parex Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Parex Resources' price. Additionally, you may evaluate how the addition of Parex Resources to your portfolios can decrease your overall portfolio volatility.
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |
Parex Resources technical stock 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, stock market cycles, or different charting patterns.