Cessatech (Denmark) Market Value
| CESSA Stock | 13.50 0.50 3.85% |
| Symbol | Cessatech |
Cessatech '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 Cessatech'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 Cessatech.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Cessatech on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Cessatech AS or generate 0.0% return on investment in Cessatech over 30 days.
Cessatech 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 Cessatech'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 Cessatech AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 15.06 | |||
| Value At Risk | (7.61) | |||
| Potential Upside | 6.18 |
Cessatech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cessatech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cessatech's standard deviation. In reality, there are many statistical measures that can use Cessatech historical prices to predict the future Cessatech's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.92) | |||
| Treynor Ratio | 0.5392 |
Cessatech AS Backtested Returns
Cessatech AS secures Sharpe Ratio (or Efficiency) of -0.0488, which signifies that the company had a -0.0488% return per unit of risk over the last 3 months. Cessatech AS exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cessatech's Standard Deviation of 4.56, mean deviation of 3.49, and Risk Adjusted Performance of (0.03) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.43, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Cessatech are expected to decrease at a much lower rate. During the bear market, Cessatech is likely to outperform the market. At this point, Cessatech AS has a negative expected return of -0.22%. Please make sure to confirm Cessatech's skewness, as well as the relationship between the rate of daily change and period momentum indicator , to decide if Cessatech AS performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Cessatech AS has insignificant reverse predictability. Overlapping area represents the amount of predictability between Cessatech time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Cessatech AS price movement. The serial correlation of -0.19 indicates that over 19.0% of current Cessatech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | -0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 0.35 |
Cessatech AS lagged returns against current returns
Autocorrelation, which is Cessatech 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 Cessatech's stock expected returns. We can calculate the autocorrelation of Cessatech returns to help us make a trade decision. For example, suppose you find that Cessatech 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 |
Cessatech 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 Cessatech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cessatech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cessatech stock over time.
Current vs Lagged Prices |
| Timeline |
Cessatech Lagged Returns
When evaluating Cessatech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cessatech stock have on its future price. Cessatech 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, Cessatech autocorrelation shows the relationship between Cessatech stock current value and its past values and can show if there is a momentum factor associated with investing in Cessatech AS.
Regressed Prices |
| Timeline |
Pair Trading with Cessatech
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 Cessatech 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 Cessatech will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Cessatech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cessatech 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 Cessatech - 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 Cessatech AS to buy it.
The correlation of Cessatech 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 Cessatech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cessatech AS 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 Cessatech 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.