Argen X (Belgium) Market Value
| ARGX Stock | EUR 564.80 11.20 2.02% |
| Symbol | Argen |
Argen X '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 Argen X'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 Argen X.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Argen X on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Argen X or generate 0.0% return on investment in Argen X over 30 days. Argen X is related to or competes with Galapagos, UCB SA, Biocartis Group, and Melexis NV. argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases in ... More
Argen X 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 Argen X'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 Argen X upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.69 | |||
| Information Ratio | 0.0906 | |||
| Maximum Drawdown | 10.86 | |||
| Value At Risk | (2.14) | |||
| Potential Upside | 3.5 |
Argen X Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Argen X's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Argen X's standard deviation. In reality, there are many statistical measures that can use Argen X historical prices to predict the future Argen X's volatility.| Risk Adjusted Performance | 0.1155 | |||
| Jensen Alpha | 0.2426 | |||
| Total Risk Alpha | 0.0461 | |||
| Sortino Ratio | 0.0927 | |||
| Treynor Ratio | (22.17) |
Argen X Backtested Returns
Argen X appears to be very steady, given 3 months investment horizon. Argen X secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for Argen X, which you can use to evaluate the volatility of the firm. Please makes use of Argen X's risk adjusted performance of 0.1155, and Mean Deviation of 1.25 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Argen X holds a performance score of 14. The firm shows a Beta (market volatility) of -0.0109, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Argen X are expected to decrease at a much lower rate. During the bear market, Argen X is likely to outperform the market. Please check Argen X's semi deviation, coefficient of variation, jensen alpha, as well as the relationship between the downside deviation and standard deviation , to make a quick decision on whether Argen X's price patterns will revert.
Auto-correlation | -0.56 |
Good reverse predictability
Argen X has good reverse predictability. Overlapping area represents the amount of predictability between Argen X 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 Argen X price movement. The serial correlation of -0.56 indicates that roughly 56.0% of current Argen X price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 147.38 |
Argen X lagged returns against current returns
Autocorrelation, which is Argen X 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 Argen X's stock expected returns. We can calculate the autocorrelation of Argen X returns to help us make a trade decision. For example, suppose you find that Argen X 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 |
Argen X 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 Argen X stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Argen X stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Argen X stock over time.
Current vs Lagged Prices |
| Timeline |
Argen X Lagged Returns
When evaluating Argen X's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Argen X stock have on its future price. Argen X 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, Argen X autocorrelation shows the relationship between Argen X stock current value and its past values and can show if there is a momentum factor associated with investing in Argen X.
Regressed Prices |
| Timeline |
Pair Trading with Argen X
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 Argen X 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 Argen X will appreciate offsetting losses from the drop in the long position's value.Moving against Argen Stock
The ability to find closely correlated positions to Argen X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Argen X 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 Argen X - 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 Argen X to buy it.
The correlation of Argen X 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 Argen X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Argen X 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 Argen X 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.Additional Tools for Argen Stock Analysis
When running Argen X's price analysis, check to measure Argen X'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 Argen X is operating at the current time. Most of Argen X's value examination focuses on studying past and present price action to predict the probability of Argen X's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Argen X's price. Additionally, you may evaluate how the addition of Argen X to your portfolios can decrease your overall portfolio volatility.