Asx Limited Adr Stock Market Value
| ASXFY Stock | USD 40.37 0.31 0.76% |
| Symbol | ASX |
ASX Limited '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 ASX Limited's pink sheet 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 ASX Limited.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in ASX Limited on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding ASX Limited ADR or generate 0.0% return on investment in ASX Limited over 30 days. ASX Limited is related to or competes with Deutsche Boerse, Japan Exchange, CochLear, Wesfarmers, and Brambles. ASX Limited operates as a multi-asset class and integrated exchange company in Australia and internationally More
ASX Limited 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 ASX Limited's pink sheet 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 ASX Limited ADR upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 6.65 | |||
| Value At Risk | (2.17) | |||
| Potential Upside | 1.7 |
ASX Limited Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ASX Limited's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ASX Limited's standard deviation. In reality, there are many statistical measures that can use ASX Limited historical prices to predict the future ASX Limited's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | (0.22) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ASX Limited'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.
ASX Limited ADR Backtested Returns
ASX Limited ADR secures Sharpe Ratio (or Efficiency) of -0.0725, which signifies that the company had a -0.0725% return per unit of volatility over the last 3 months. ASX Limited ADR exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ASX Limited's mean deviation of 0.961, and Risk Adjusted Performance of (0.04) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.46, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, ASX Limited's returns are expected to increase less than the market. However, during the bear market, the loss of holding ASX Limited is expected to be smaller as well. ASX Limited ADR has an expected return of -0.0925%. Please make sure to confirm ASX Limited ADR maximum drawdown, daily balance of power, as well as the relationship between the Daily Balance Of Power and period momentum indicator , to decide if ASX Limited ADR performance from the past will be repeated at future time.
Auto-correlation | 0.76 |
Good predictability
ASX Limited ADR has good predictability. Overlapping area represents the amount of predictability between ASX Limited time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 ASX Limited ADR price movement. The serial correlation of 0.76 indicates that around 76.0% of current ASX Limited price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 0.56 |
ASX Limited ADR lagged returns against current returns
Autocorrelation, which is ASX Limited pink sheet'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 ASX Limited's pink sheet expected returns. We can calculate the autocorrelation of ASX Limited returns to help us make a trade decision. For example, suppose you find that ASX Limited has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
ASX Limited 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 ASX Limited pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ASX Limited pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ASX Limited pink sheet over time.
Current vs Lagged Prices |
| Timeline |
ASX Limited Lagged Returns
When evaluating ASX Limited's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ASX Limited pink sheet have on its future price. ASX Limited 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, ASX Limited autocorrelation shows the relationship between ASX Limited pink sheet current value and its past values and can show if there is a momentum factor associated with investing in ASX Limited ADR.
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 ASX Limited 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, ASX Limited's short interest history, or implied volatility extrapolated from ASX Limited options trading.
Pair Trading with ASX Limited
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 ASX Limited 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 ASX Limited will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to ASX Limited could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASX Limited 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 ASX Limited - 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 ASX Limited ADR to buy it.
The correlation of ASX Limited 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 ASX Limited moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ASX Limited ADR 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 ASX Limited 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.Check out ASX Limited Correlation, ASX Limited Volatility and ASX Limited Alpha and Beta module to complement your research on ASX Limited. Note that the ASX Limited ADR information on this page should be used as a complementary analysis to other ASX Limited'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 the Transaction History module to view history of all your transactions and understand their impact on performance.
Complementary Tools for ASX Pink Sheet analysis
When running ASX Limited's price analysis, check to measure ASX Limited'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 ASX Limited is operating at the current time. Most of ASX Limited's value examination focuses on studying past and present price action to predict the probability of ASX Limited's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ASX Limited's price. Additionally, you may evaluate how the addition of ASX Limited to your portfolios can decrease your overall portfolio volatility.
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ASX Limited technical pink sheet 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, pink sheet market cycles, or different charting patterns.