Oil States International Stock Market Value
| OIS Stock | USD 4.05 0.01 0.25% |
| Symbol | Oil |
Is Machinery space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Oil States. If investors know Oil will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Oil States listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Oil States International is measured differently than its book value, which is the value of Oil that is recorded on the company's balance sheet. Investors also form their own opinion of Oil States' value that differs from its market value or its book value, called intrinsic value, which is Oil States' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Oil States' market value can be influenced by many factors that don't directly affect Oil States' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Oil States' value and its price as these two are different measures arrived at by different means. Investors typically determine if Oil States is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Oil States' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Oil States '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 Oil States' 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 Oil States.
| 05/10/2024 |
| 06/09/2024 |
If you would invest 0.00 in Oil States on May 10, 2024 and sell it all today you would earn a total of 0.00 from holding Oil States International or generate 0.0% return on investment in Oil States over 30 days. Oil States is related to or competes with Oceaneering International, ChampionX, TechnipFMC PLC, Helix Energy, Dril Quip, Ranger Energy, and Now. Oil States International, Inc., through its subsidiaries, provides oilfield products and services for the drilling, comp... More
Oil States 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 Oil States' 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 Oil States International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 25.24 | |||
| Value At Risk | (4.62) | |||
| Potential Upside | 4.26 |
Oil States Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oil States' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oil States' standard deviation. In reality, there are many statistical measures that can use Oil States historical prices to predict the future Oil States' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.44) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | 1.36 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Oil States' 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.
Oil States International Backtested Returns
Oil States International maintains Sharpe Ratio (i.e., Efficiency) of -0.12, which implies the firm had a -0.12% return per unit of risk over the last 3 months. Oil States International exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Oil States' Variance of 12.77, coefficient of variation of (820.36), and Risk Adjusted Performance of (0.07) to confirm the risk estimate we provide. The company holds a Beta of -0.33, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Oil States are expected to decrease at a much lower rate. During the bear market, Oil States is likely to outperform the market. At this point, Oil States International has a negative expected return of -0.44%. Please make sure to check Oil States' potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if Oil States International performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.28 |
Weak reverse predictability
Oil States International has weak reverse predictability. Overlapping area represents the amount of predictability between Oil States time series from 10th of May 2024 to 25th of May 2024 and 25th of May 2024 to 9th of June 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 Oil States International price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Oil States price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Oil States International lagged returns against current returns
Autocorrelation, which is Oil States 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 Oil States' stock expected returns. We can calculate the autocorrelation of Oil States returns to help us make a trade decision. For example, suppose you find that Oil States 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 |
Oil States 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 Oil States stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oil States stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oil States stock over time.
Current vs Lagged Prices |
| Timeline |
Oil States Lagged Returns
When evaluating Oil States' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oil States stock have on its future price. Oil States 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, Oil States autocorrelation shows the relationship between Oil States stock current value and its past values and can show if there is a momentum factor associated with investing in Oil States International.
Regressed Prices |
| Timeline |
Pair Trading with Oil States
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Oil States position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Oil States will appreciate offsetting losses from the drop in the long position's value.Moving together with Oil Stock
Moving against Oil Stock
| 0.71 | DTI | Drilling Tools Inter Symbol Change | PairCorr |
| 0.63 | DWSN | Dawson Geophysical | PairCorr |
| 0.63 | VTOL | Bristow Group | PairCorr |
The ability to find closely correlated positions to Oil States could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oil States when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Oil States - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Oil States International to buy it.
The correlation of Oil States is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Oil States moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oil States International moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Oil States can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Oil Stock Analysis
When running Oil States' price analysis, check to measure Oil States' 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 Oil States is operating at the current time. Most of Oil States' value examination focuses on studying past and present price action to predict the probability of Oil States' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Oil States' price. Additionally, you may evaluate how the addition of Oil States to your portfolios can decrease your overall portfolio volatility.