Audax Renovables (Spain) Market Value
| ADX Stock | EUR 1.66 0.02 1.19% |
| Symbol | Audax |
Audax Renovables '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 Audax Renovables' 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 Audax Renovables.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Audax Renovables on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Audax Renovables SA or generate 0.0% return on investment in Audax Renovables over 30 days. Audax Renovables is related to or competes with Solaria Energa, Grenergy Renovables, Oryzon Genomics, Pharma Mar, and ENCE Energa. Audax Renovables, S.A. engages in the generation and supplying of renewable electricity and gas in Spain, Portugal, Ital... More
Audax Renovables 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 Audax Renovables' 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 Audax Renovables SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 10.51 | |||
| Value At Risk | (2.29) | |||
| Potential Upside | 2.44 |
Audax Renovables Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Audax Renovables' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Audax Renovables' standard deviation. In reality, there are many statistical measures that can use Audax Renovables historical prices to predict the future Audax Renovables' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.40) | |||
| Treynor Ratio | 3.35 |
Audax Renovables Backtested Returns
Audax Renovables secures Sharpe Ratio (or Efficiency) of -0.11, which signifies that the company had a -0.11% return per unit of standard deviation over the last 3 months. Audax Renovables SA exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Audax Renovables' risk adjusted performance of (0.07), and Mean Deviation of 1.08 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0479, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Audax Renovables are expected to decrease at a much lower rate. During the bear market, Audax Renovables is likely to outperform the market. At this point, Audax Renovables has a negative expected return of -0.17%. Please make sure to confirm Audax Renovables' potential upside, day median price, and the relationship between the total risk alpha and accumulation distribution , to decide if Audax Renovables performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.08 |
Virtually no predictability
Audax Renovables SA has virtually no predictability. Overlapping area represents the amount of predictability between Audax Renovables time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Audax Renovables price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Audax Renovables price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Audax Renovables lagged returns against current returns
Autocorrelation, which is Audax Renovables 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 Audax Renovables' stock expected returns. We can calculate the autocorrelation of Audax Renovables returns to help us make a trade decision. For example, suppose you find that Audax Renovables 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 |
Audax Renovables 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 Audax Renovables stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Audax Renovables stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Audax Renovables stock over time.
Current vs Lagged Prices |
| Timeline |
Audax Renovables Lagged Returns
When evaluating Audax Renovables' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Audax Renovables stock have on its future price. Audax Renovables 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, Audax Renovables autocorrelation shows the relationship between Audax Renovables stock current value and its past values and can show if there is a momentum factor associated with investing in Audax Renovables SA.
Regressed Prices |
| Timeline |
Also Currently Popular
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.Other Information on Investing in Audax Stock
Audax Renovables financial ratios help investors to determine whether Audax Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Audax with respect to the benefits of owning Audax Renovables security.