Oil Equipment Services Fund Market Value
| OEPIX Fund | USD 109.99 2.59 2.30% |
| Symbol | Oil |
Oil Equipment '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 Equipment's mutual fund 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 Equipment.
| 02/18/2024 |
| 04/18/2024 |
If you would invest 0.00 in Oil Equipment on February 18, 2024 and sell it all today you would earn a total of 0.00 from holding Oil Equipment Services or generate 0.0% return on investment in Oil Equipment over 60 days. Oil Equipment is related to or competes with Mutual Of, Lord Abbett, Hennessy Cornerstone, Royce Opportunity, Pgim Jennison, Tiaa-cref Mid-cap, and Foundry Partners. The fund invests in financial instruments that ProFund Advisors believes, in combination, should produce daily returns c... More
Oil Equipment 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 Equipment's mutual fund 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 Equipment Services upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.1 | |||
| Information Ratio | 0.1136 | |||
| Maximum Drawdown | 9.08 | |||
| Value At Risk | (3.14) | |||
| Potential Upside | 3.54 |
Oil Equipment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oil Equipment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oil Equipment's standard deviation. In reality, there are many statistical measures that can use Oil Equipment historical prices to predict the future Oil Equipment's volatility.| Risk Adjusted Performance | 0.0948 | |||
| Jensen Alpha | 0.2807 | |||
| Total Risk Alpha | 0.1359 | |||
| Sortino Ratio | 0.1177 | |||
| Treynor Ratio | 1.07 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Oil Equipment'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.
Oil Equipment Services Backtested Returns
Oil Equipment appears to be very steady, given 3 months investment horizon. Oil Equipment Services maintains Sharpe Ratio (i.e., Efficiency) of 0.14, which implies the entity had a 0.14% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Oil Equipment Services, which you can use to evaluate the volatility of the fund. Please evaluate Oil Equipment's Risk Adjusted Performance of 0.0948, semi deviation of 1.75, and Coefficient Of Variation of 719.18 to confirm if our risk estimates are consistent with your expectations. The fund holds a Beta of 0.27, which implies not very significant fluctuations relative to the market. As returns on the market increase, Oil Equipment's returns are expected to increase less than the market. However, during the bear market, the loss of holding Oil Equipment is expected to be smaller as well.
Auto-correlation | -0.13 |
Insignificant reverse predictability
Oil Equipment Services has insignificant reverse predictability. Overlapping area represents the amount of predictability between Oil Equipment time series from 18th of February 2024 to 19th of March 2024 and 19th of March 2024 to 18th 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 Oil Equipment Services price movement. The serial correlation of -0.13 indicates that less than 13.0% of current Oil Equipment price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.13 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 20.91 |
Oil Equipment Services lagged returns against current returns
Autocorrelation, which is Oil Equipment mutual fund'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 Equipment's mutual fund expected returns. We can calculate the autocorrelation of Oil Equipment returns to help us make a trade decision. For example, suppose you find that Oil Equipment has exhibited high autocorrelation historically, and you observe that the mutual fund 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 Equipment 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 Equipment mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oil Equipment mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oil Equipment mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Oil Equipment Lagged Returns
When evaluating Oil Equipment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oil Equipment mutual fund have on its future price. Oil Equipment 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 Equipment autocorrelation shows the relationship between Oil Equipment mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Oil Equipment Services.
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 Oil Equipment 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, Oil Equipment's short interest history, or implied volatility extrapolated from Oil Equipment options trading.
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Oil Equipment technical mutual fund 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, fund market cycles, or different charting patterns.