BCOMHO Index Market Value

Indexes . USA . 
Index . Heat Oil
BCOMHO Index   428.68  1.95  0.46%   
Heat Oil's market value is the price at which a share of Heat Oil stock trades on a public exchange. It measures the collective expectations of Heat Oil investors about the entity's future performance. With this module, you can estimate the performance of a buy and hold strategy of Heat Oil and determine expected loss or profit from investing in Heat Oil over a given investment horizon. Check out Trending Equities.
Symbol

Heat Oil '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 Heat Oil's index 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 Heat Oil.
0.00
03/26/2022
No Change 0.00  0.0 
In 11 months and 26 days
03/21/2023
0.00
If you would invest  0.00  in Heat Oil on March 26, 2022 and sell it all today you would earn a total of 0.00 from holding Heat Oil or generate 0.0% return on investment in Heat Oil over 360 days.

Heat Oil 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 Heat Oil's index 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 Heat Oil upside and downside potential and time the market with a certain degree of confidence.
Information Ratio(0.023435)
Maximum Drawdown10.99
Value At Risk(4.18)
Potential Upside3.22

Heat Oil Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Heat Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Heat Oil's standard deviation. In reality, there are many statistical measures that can use Heat Oil historical prices to predict the future Heat Oil's volatility.
Risk Adjusted Performance(0.04464)
Total Risk Alpha0.076
Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of Heat Oil'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. Please use the tools below to analyze the current value of Heat Oil in the context of predictive analytics.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Heat Oil. Your research has to be compared to or analyzed against Heat Oil's peers to derive any actionable benefits. When done correctly, Heat Oil's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy towards taking a position in Heat Oil.

Heat Oil Backtested Returns

Heat Oil holds Efficiency (Sharpe) Ratio of -0.0747, which attests that the entity had -0.0747% of return per unit of standard deviation over the last 3 months. Macroaxis philosophy in determining the risk of any index is to look at both systematic and unsystematic factors of the business, including all available market data and technical indicators. Heat Oil exposes twenty-one different technical indicators, which can help you to evaluate volatility that cannot be diversified away.
The index retains a Market Volatility (i.e., Beta) of 0.0, which attests to not very significant fluctuations relative to the market. Let's try to break down what BCOMHO's beta means in this case. the returns on MARKET and Heat Oil are completely uncorrelated. Even though it is essential to pay attention to Heat Oil current price history, it is always good to be careful when utilizing equity current price movements. Our philosophy in determining any index's future performance is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Heat Oil exposes twenty-one different technical indicators, which can help you to evaluate its performance.

Auto-correlation

    
  -0.09  

Very weak reverse predictability

Heat Oil has very weak reverse predictability. Overlapping area represents the amount of predictability between Heat Oil time series from 26th of March 2022 to 22nd of September 2022 and 22nd of September 2022 to 21st of March 2023. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Heat Oil price movement. The serial correlation of -0.09 indicates that less than 9.0% of current Heat Oil price fluctuation can be explain by its past prices.
Correlation Coefficient-0.09
Spearman Rank Test-0.24
Residual Average0.0
Price Variance1561.02

Heat Oil lagged returns against current returns

Autocorrelation, which is Heat Oil index'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 Heat Oil's index expected returns. We can calculate the autocorrelation of Heat Oil returns to help us make a trade decision. For example, suppose you find that Heat Oil index 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 stock movement to match the lagging time series.
   Current and Lagged Values   
       Timeline  

Heat Oil 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 Heat Oil index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Heat Oil index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Heat Oil index over time.
   Current vs Lagged Prices   
       Timeline  

Heat Oil Lagged Returns

When evaluating Heat Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Heat Oil index have on its future price. Heat Oil 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, Heat Oil autocorrelation shows the relationship between Heat Oil index current value and its past values and can show if there is a momentum factor associated with investing in Heat Oil.
   Regressed Prices   
       Timeline  

Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Heat Oil in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Heat Oil's short interest history, or implied volatility extrapolated from Heat Oil options trading.

Pair Trading with Heat Oil

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 Heat Oil 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 Heat Oil will appreciate offsetting losses from the drop in the long position's value.

Moving against Heat Oil

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The ability to find closely correlated positions to Heat Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Heat Oil 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 Heat Oil - 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 Heat Oil to buy it.
The correlation of Heat Oil is a statistical measure of how it moves in relation to other equities. 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 Heat Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heat Oil 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 Heat Oil 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.
Pair CorrelationCorrelation Matching
Check out Trending Equities. Note that the Heat Oil information on this page should be used as a complementary analysis to other Heat Oil's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.

Complementary Tools for BCOMHO Index analysis

When running Heat Oil price analysis, check to measure Heat Oil'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 Heat Oil is operating at the current time. Most of Heat Oil's value examination focuses on studying past and present price action to predict the probability of Heat Oil's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Heat Oil's price. Additionally, you may evaluate how the addition of Heat Oil to your portfolios can decrease your overall portfolio volatility.
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Heat Oil technical index 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, index market cycles, or different charting patterns.
Overlap Analysis
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Forecast Models
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Price Shifting
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Volatility Indicators
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Value Movement
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A focus of Heat Oil technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Heat Oil trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...
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