Covestro Adr Stock Market Value
| COVTY Stock | USD 29.73 0.25 0.83% |
| Symbol | Covestro |
Covestro ADR '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 Covestro ADR'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 Covestro ADR.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in Covestro ADR on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding Covestro ADR or generate 0.0% return on investment in Covestro ADR over 720 days. Covestro ADR is related to or competes with HUMANA, Barloworld, Morningstar Unconstrained, High-yield Municipal, Thrivent High, Via Renewables, and T Rowe. Covestro AG supplies high-tech polymer materials and related application solutions More
Covestro ADR 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 Covestro ADR'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 Covestro ADR upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8132 | |||
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 7.41 | |||
| Value At Risk | (1.50) | |||
| Potential Upside | 1.28 |
Covestro ADR Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Covestro ADR's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Covestro ADR's standard deviation. In reality, there are many statistical measures that can use Covestro ADR historical prices to predict the future Covestro ADR's volatility.| Risk Adjusted Performance | 0.0037 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | 0.253 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Covestro ADR'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.
Covestro ADR Backtested Returns
Covestro ADR secures Sharpe Ratio (or Efficiency) of -0.0093, which signifies that the company had a -0.0093% return per unit of risk over the last 3 months. Covestro ADR exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Covestro ADR's Mean Deviation of 0.665, downside deviation of 0.8132, and Risk Adjusted Performance of 0.0037 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0334, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Covestro ADR are expected to decrease at a much lower rate. During the bear market, Covestro ADR is likely to outperform the market. At this point, Covestro ADR has a negative expected return of -0.0096%. Please make sure to confirm Covestro ADR's maximum drawdown, skewness, day typical price, as well as the relationship between the downside variance and daily balance of power , to decide if Covestro ADR performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.72 |
Good predictability
Covestro ADR has good predictability. Overlapping area represents the amount of predictability between Covestro ADR time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 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 Covestro ADR price movement. The serial correlation of 0.72 indicates that around 72.0% of current Covestro ADR price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 4.08 |
Covestro ADR lagged returns against current returns
Autocorrelation, which is Covestro ADR 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 Covestro ADR's pink sheet expected returns. We can calculate the autocorrelation of Covestro ADR returns to help us make a trade decision. For example, suppose you find that Covestro ADR 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 |
Covestro ADR 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 Covestro ADR pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Covestro ADR pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Covestro ADR pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Covestro ADR Lagged Returns
When evaluating Covestro ADR's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Covestro ADR pink sheet have on its future price. Covestro ADR 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, Covestro ADR autocorrelation shows the relationship between Covestro ADR pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Covestro 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 Covestro Pink Sheet Analysis
When running Covestro ADR's price analysis, check to measure Covestro ADR'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 Covestro ADR is operating at the current time. Most of Covestro ADR's value examination focuses on studying past and present price action to predict the probability of Covestro ADR's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Covestro ADR's price. Additionally, you may evaluate how the addition of Covestro ADR to your portfolios can decrease your overall portfolio volatility.