BCOMHO Index Market Value

BCOMHO Index   530.92  5.85  1.11%   
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.
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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
12/28/2022
No Change 0.00  0.0 
In 31 days
01/27/2023
0.00
If you would invest  0.00  in Heat Oil on December 28, 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 30 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.

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.
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 1.0E-4, which attests that the entity had 1.0E-4% of return per unit of standard deviation over the last 3 months. Our philosophy in determining the volatility of an index is to use all available market data together with index-specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for Heat Oil, which you can use to evaluate the future volatility of the entity.
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. Although it is important to respect Heat Oil current price history, it is better to be realistic regarding the information on the equity's current price movements. The philosophy in determining future performance of any index is to evaluate the business as a whole together with its past performance, including all available fundamental and technical indicators. By evaluating Heat Oil technical indicators, you can presently evaluate if the expected return of 2.0E-4% will be sustainable into the future.

Auto-correlation

    
  -0.72  

Almost perfect reverse predictability

Heat Oil has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Heat Oil time series from 28th of December 2022 to 12th of January 2023 and 12th of January 2023 to 27th of January 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 -0.72 indicates that around 72.0% of current Heat Oil price fluctuation can be explain by its past prices.
Correlation Coefficient-0.72
Spearman Rank Test0.15
Residual Average0.0
Price Variance221.45

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  

Be your own money manager

Our tools can tell you how much better you can do entering a position in Heat Oil without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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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.
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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.
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...