Airthings ASA (Norway) Market Value
| AIRX Stock | NOK 2.42 0.08 3.20% |
| Symbol | Airthings |
Airthings ASA '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 Airthings ASA'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 Airthings ASA.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Airthings ASA on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Airthings ASA or generate 0.0% return on investment in Airthings ASA over 30 days. Airthings ASA is related to or competes with Vow ASA, Aker Horizons, and Saga Pure. Airthings ASA, together with its subsidiaries, develops, produces, markets, and sells radon measurement, indoor air qual... More
Airthings ASA 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 Airthings ASA'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 Airthings ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 20.4 | |||
| Value At Risk | (4.62) | |||
| Potential Upside | 7.44 |
Airthings ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Airthings ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Airthings ASA's standard deviation. In reality, there are many statistical measures that can use Airthings ASA historical prices to predict the future Airthings ASA's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.63) | |||
| Treynor Ratio | 0.8888 |
Airthings ASA Backtested Returns
Airthings ASA secures Sharpe Ratio (or Efficiency) of -0.0235, which signifies that the company had a -0.0235% return per unit of risk over the last 3 months. Airthings ASA exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Airthings ASA's Risk Adjusted Performance of (0.01), mean deviation of 2.38, and Standard Deviation of 3.53 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0874, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Airthings ASA are expected to decrease at a much lower rate. During the bear market, Airthings ASA is likely to outperform the market. At this point, Airthings ASA has a negative expected return of -0.0838%. Please make sure to confirm Airthings ASA's total risk alpha, maximum drawdown, skewness, as well as the relationship between the treynor ratio and potential upside , to decide if Airthings ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.88 |
Excellent reverse predictability
Airthings ASA has excellent reverse predictability. Overlapping area represents the amount of predictability between Airthings ASA 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 Airthings ASA price movement. The serial correlation of -0.88 indicates that approximately 88.0% of current Airthings ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.88 | |
| Spearman Rank Test | -0.91 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Airthings ASA lagged returns against current returns
Autocorrelation, which is Airthings ASA 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 Airthings ASA's stock expected returns. We can calculate the autocorrelation of Airthings ASA returns to help us make a trade decision. For example, suppose you find that Airthings ASA 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 |
Airthings ASA 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 Airthings ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Airthings ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Airthings ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Airthings ASA Lagged Returns
When evaluating Airthings ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Airthings ASA stock have on its future price. Airthings ASA 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, Airthings ASA autocorrelation shows the relationship between Airthings ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Airthings ASA.
Regressed Prices |
| Timeline |
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Airthings ASA financial ratios help investors to determine whether Airthings 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 Airthings with respect to the benefits of owning Airthings ASA security.