RENUKA FOODS (Sri Lanka) Market Value
| COCOX0000 | LKR 10.00 0.10 1.01% |
| Symbol | RENUKA |
Please note, there is a significant difference between RENUKA FOODS's value and its price as these two are different measures arrived at by different means. Investors typically determine if RENUKA FOODS is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, RENUKA FOODS's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
RENUKA FOODS '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 RENUKA FOODS'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 RENUKA FOODS.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in RENUKA FOODS on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding RENUKA FOODS PLC or generate 0.0% return on investment in RENUKA FOODS over 60 days. More
RENUKA FOODS 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 RENUKA FOODS'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 RENUKA FOODS PLC upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.17 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 11.32 | |||
| Value At Risk | (2.78) | |||
| Potential Upside | 3.85 |
RENUKA FOODS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for RENUKA FOODS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as RENUKA FOODS's standard deviation. In reality, there are many statistical measures that can use RENUKA FOODS historical prices to predict the future RENUKA FOODS's volatility.| Risk Adjusted Performance | 0.0132 | |||
| Jensen Alpha | 0.0619 | |||
| Total Risk Alpha | (0.29) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | (0.02) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of RENUKA FOODS's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
RENUKA FOODS PLC Backtested Returns
At this point, RENUKA FOODS is not too volatile. RENUKA FOODS PLC maintains Sharpe Ratio (i.e., Efficiency) of 0.0094, which implies the firm had a 0.0094% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for RENUKA FOODS PLC, which you can use to evaluate the volatility of the company. Please check RENUKA FOODS's Semi Deviation of 1.47, risk adjusted performance of 0.0132, and Market Risk Adjusted Performance of (0.01) to confirm if the risk estimate we provide is consistent with the expected return of 0.0181%. The company holds a Beta of -0.45, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning RENUKA FOODS are expected to decrease at a much lower rate. During the bear market, RENUKA FOODS is likely to outperform the market. RENUKA FOODS PLC currently holds a risk of 1.93%. Please check RENUKA FOODS PLC maximum drawdown, as well as the relationship between the skewness and day typical price , to decide if RENUKA FOODS PLC will be following its historical price patterns.
Auto-correlation | -0.44 |
Modest reverse predictability
RENUKA FOODS PLC has modest reverse predictability. Overlapping area represents the amount of predictability between RENUKA FOODS time series from 27th of September 2024 to 27th of October 2024 and 27th of October 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 RENUKA FOODS PLC price movement. The serial correlation of -0.44 indicates that just about 44.0% of current RENUKA FOODS price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.44 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
RENUKA FOODS PLC lagged returns against current returns
Autocorrelation, which is RENUKA FOODS 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 RENUKA FOODS's stock expected returns. We can calculate the autocorrelation of RENUKA FOODS returns to help us make a trade decision. For example, suppose you find that RENUKA FOODS 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 |
RENUKA FOODS 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 RENUKA FOODS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if RENUKA FOODS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in RENUKA FOODS stock over time.
Current vs Lagged Prices |
| Timeline |
RENUKA FOODS Lagged Returns
When evaluating RENUKA FOODS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of RENUKA FOODS stock have on its future price. RENUKA FOODS 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, RENUKA FOODS autocorrelation shows the relationship between RENUKA FOODS stock current value and its past values and can show if there is a momentum factor associated with investing in RENUKA FOODS PLC.
Regressed Prices |
| Timeline |
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RENUKA FOODS financial ratios help investors to determine whether RENUKA 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 RENUKA with respect to the benefits of owning RENUKA FOODS security.