ChemoMetec (Denmark) Market Value
| CHEMM Stock | DKK 472.40 20.20 4.47% |
| Symbol | ChemoMetec |
ChemoMetec '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 ChemoMetec'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 ChemoMetec.
| 10/29/2023 |
| 11/22/2024 |
If you would invest 0.00 in ChemoMetec on October 29, 2023 and sell it all today you would earn a total of 0.00 from holding ChemoMetec AS or generate 0.0% return on investment in ChemoMetec over 390 days. ChemoMetec is related to or competes with CBrain AS, Ambu AS, Genmab AS, Zealand Pharma, and ALK Abell. ChemoMetec AS engages in the development, production, and sale of analytical equipment for cell counting and analysis th... More
ChemoMetec 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 ChemoMetec'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 ChemoMetec AS upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.78 | |||
| Information Ratio | 0.0567 | |||
| Maximum Drawdown | 33.74 | |||
| Value At Risk | (3.81) | |||
| Potential Upside | 7.03 |
ChemoMetec Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ChemoMetec's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ChemoMetec's standard deviation. In reality, there are many statistical measures that can use ChemoMetec historical prices to predict the future ChemoMetec's volatility.| Risk Adjusted Performance | 0.0695 | |||
| Jensen Alpha | 0.3065 | |||
| Total Risk Alpha | (0.25) | |||
| Sortino Ratio | 0.0956 | |||
| Treynor Ratio | 0.6205 |
ChemoMetec AS Backtested Returns
ChemoMetec appears to be very steady, given 3 months investment horizon. ChemoMetec AS secures Sharpe Ratio (or Efficiency) of 0.092, which signifies that the company had a 0.092% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for ChemoMetec AS, which you can use to evaluate the volatility of the firm. Please makes use of ChemoMetec's risk adjusted performance of 0.0695, and Mean Deviation of 2.77 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, ChemoMetec holds a performance score of 7. The firm shows a Beta (market volatility) of 0.59, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, ChemoMetec's returns are expected to increase less than the market. However, during the bear market, the loss of holding ChemoMetec is expected to be smaller as well. Please check ChemoMetec's standard deviation, expected short fall, period momentum indicator, as well as the relationship between the maximum drawdown and rate of daily change , to make a quick decision on whether ChemoMetec's price patterns will revert.
Auto-correlation | 0.18 |
Very weak predictability
ChemoMetec AS has very weak predictability. Overlapping area represents the amount of predictability between ChemoMetec time series from 29th of October 2023 to 11th of May 2024 and 11th of May 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 ChemoMetec AS price movement. The serial correlation of 0.18 indicates that over 18.0% of current ChemoMetec price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 1577.98 |
ChemoMetec AS lagged returns against current returns
Autocorrelation, which is ChemoMetec 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 ChemoMetec's stock expected returns. We can calculate the autocorrelation of ChemoMetec returns to help us make a trade decision. For example, suppose you find that ChemoMetec 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 |
ChemoMetec 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 ChemoMetec stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ChemoMetec stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ChemoMetec stock over time.
Current vs Lagged Prices |
| Timeline |
ChemoMetec Lagged Returns
When evaluating ChemoMetec's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ChemoMetec stock have on its future price. ChemoMetec 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, ChemoMetec autocorrelation shows the relationship between ChemoMetec stock current value and its past values and can show if there is a momentum factor associated with investing in ChemoMetec AS.
Regressed Prices |
| Timeline |
Pair Trading with ChemoMetec
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 ChemoMetec 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 ChemoMetec will appreciate offsetting losses from the drop in the long position's value.Moving against ChemoMetec Stock
| 0.61 | MDUNDO | Mdundo Com As | PairCorr |
| 0.49 | NORTHM | North Media AS | PairCorr |
| 0.33 | GMAB | Genmab AS | PairCorr |
| 0.33 | STENO | Stenocare AS | PairCorr |
The ability to find closely correlated positions to ChemoMetec could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ChemoMetec 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 ChemoMetec - 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 ChemoMetec AS to buy it.
The correlation of ChemoMetec 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 ChemoMetec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ChemoMetec 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 ChemoMetec 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.Other Information on Investing in ChemoMetec Stock
ChemoMetec financial ratios help investors to determine whether ChemoMetec 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 ChemoMetec with respect to the benefits of owning ChemoMetec security.