Odfjell Drilling (UK) Market Value
| 0QHX Stock | 51.18 0.04 0.08% |
| Symbol | Odfjell |
Odfjell Drilling '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 Odfjell Drilling's 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 Odfjell Drilling.
| 05/28/2024 |
| 11/24/2024 |
If you would invest 0.00 in Odfjell Drilling on May 28, 2024 and sell it all today you would earn a total of 0.00 from holding Odfjell Drilling or generate 0.0% return on investment in Odfjell Drilling over 180 days. Odfjell Drilling is related to or competes with Greenroc Mining, Lundin Mining, Thor Mining, Compagnie Plastic, Blackrock World, Alaska Air, and Summit Materials. Odfjell Drilling is entity of United Kingdom More
Odfjell Drilling 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 Odfjell Drilling's 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 Odfjell Drilling upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 9.71 | |||
| Value At Risk | (3.55) | |||
| Potential Upside | 2.76 |
Odfjell Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Odfjell Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Odfjell Drilling's standard deviation. In reality, there are many statistical measures that can use Odfjell Drilling historical prices to predict the future Odfjell Drilling's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.37) | |||
| Treynor Ratio | (0.26) |
Odfjell Drilling Backtested Returns
Odfjell Drilling maintains Sharpe Ratio (i.e., Efficiency) of -0.0306, which implies the firm had a -0.0306% return per unit of risk over the last 3 months. Odfjell Drilling exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Odfjell Drilling's Risk Adjusted Performance of (0.02), variance of 3.62, and Coefficient Of Variation of (3,062) to confirm the risk estimate we provide. The company holds a Beta of 0.28, which implies not very significant fluctuations relative to the market. As returns on the market increase, Odfjell Drilling's returns are expected to increase less than the market. However, during the bear market, the loss of holding Odfjell Drilling is expected to be smaller as well. At this point, Odfjell Drilling has a negative expected return of -0.058%. Please make sure to check Odfjell Drilling's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Odfjell Drilling performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.29 |
Weak reverse predictability
Odfjell Drilling has weak reverse predictability. Overlapping area represents the amount of predictability between Odfjell Drilling time series from 28th of May 2024 to 26th of August 2024 and 26th of August 2024 to 24th of November 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 Odfjell Drilling price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Odfjell Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 1.52 |
Odfjell Drilling lagged returns against current returns
Autocorrelation, which is Odfjell Drilling 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 Odfjell Drilling's stock expected returns. We can calculate the autocorrelation of Odfjell Drilling returns to help us make a trade decision. For example, suppose you find that Odfjell Drilling 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 |
Odfjell Drilling 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 Odfjell Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Odfjell Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Odfjell Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
Odfjell Drilling Lagged Returns
When evaluating Odfjell Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Odfjell Drilling stock have on its future price. Odfjell Drilling 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, Odfjell Drilling autocorrelation shows the relationship between Odfjell Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in Odfjell Drilling.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Odfjell Stock Analysis
When running Odfjell Drilling's price analysis, check to measure Odfjell Drilling'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 Odfjell Drilling is operating at the current time. Most of Odfjell Drilling's value examination focuses on studying past and present price action to predict the probability of Odfjell Drilling's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Odfjell Drilling's price. Additionally, you may evaluate how the addition of Odfjell Drilling to your portfolios can decrease your overall portfolio volatility.