Acerinox Sa Adr Stock Market Value
| ANIOY Stock | USD 5.05 0.37 7.91% |
| Symbol | Acerinox |
Acerinox '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 Acerinox'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 Acerinox.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Acerinox on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Acerinox SA ADR or generate 0.0% return on investment in Acerinox over 30 days. Acerinox is related to or competes with Algoma Steel, Synalloy, Algoma Steel, Aperam PK, and Friedman Industries. Acerinox, S.A., through its subsidiaries, manufactures, transforms, and markets stainless steel products in Spain, the A... More
Acerinox 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 Acerinox'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 Acerinox SA ADR upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 17.16 | |||
| Value At Risk | (4.40) | |||
| Potential Upside | 3.56 |
Acerinox Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Acerinox's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Acerinox's standard deviation. In reality, there are many statistical measures that can use Acerinox historical prices to predict the future Acerinox's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.42) | |||
| Treynor Ratio | (37.44) |
Acerinox SA ADR Backtested Returns
Acerinox SA ADR secures Sharpe Ratio (or Efficiency) of -0.0239, which signifies that the company had a -0.0239% return per unit of standard deviation over the last 3 months. Acerinox SA ADR exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Acerinox's risk adjusted performance of (0.03), and Mean Deviation of 1.17 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.003, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Acerinox's returns are expected to increase less than the market. However, during the bear market, the loss of holding Acerinox is expected to be smaller as well. At this point, Acerinox SA ADR has a negative expected return of -0.061%. Please make sure to confirm Acerinox's market risk adjusted performance, jensen alpha, as well as the relationship between the Jensen Alpha and daily balance of power , to decide if Acerinox SA ADR performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Acerinox SA ADR has insignificant reverse predictability. Overlapping area represents the amount of predictability between Acerinox time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Acerinox SA ADR price movement. The serial correlation of -0.19 indicates that over 19.0% of current Acerinox price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Acerinox SA ADR lagged returns against current returns
Autocorrelation, which is Acerinox 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 Acerinox's pink sheet expected returns. We can calculate the autocorrelation of Acerinox returns to help us make a trade decision. For example, suppose you find that Acerinox 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 |
Acerinox 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 Acerinox pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Acerinox pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Acerinox pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Acerinox Lagged Returns
When evaluating Acerinox's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Acerinox pink sheet have on its future price. Acerinox 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, Acerinox autocorrelation shows the relationship between Acerinox pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Acerinox SA ADR.
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 Acerinox Pink Sheet Analysis
When running Acerinox's price analysis, check to measure Acerinox'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 Acerinox is operating at the current time. Most of Acerinox's value examination focuses on studying past and present price action to predict the probability of Acerinox's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Acerinox's price. Additionally, you may evaluate how the addition of Acerinox to your portfolios can decrease your overall portfolio volatility.