Eidesvik Offshore (Norway) Market Value
| EIOF Stock | NOK 13.50 0.04 0.30% |
| Symbol | Eidesvik |
Eidesvik Offshore '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 Eidesvik Offshore'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 Eidesvik Offshore.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Eidesvik Offshore on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Eidesvik Offshore ASA or generate 0.0% return on investment in Eidesvik Offshore over 30 days. Eidesvik Offshore is related to or competes with Solstad Offsho, Havila Shipping, Prosafe SE, and BW Offshore. Eidesvik Offshore ASA, a shipping company, operates ships in the supply, seismic, and subsea business areas More
Eidesvik Offshore 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 Eidesvik Offshore'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 Eidesvik Offshore ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 12.7 | |||
| Value At Risk | (3.40) | |||
| Potential Upside | 2.61 |
Eidesvik Offshore Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eidesvik Offshore's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eidesvik Offshore's standard deviation. In reality, there are many statistical measures that can use Eidesvik Offshore historical prices to predict the future Eidesvik Offshore's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.45) | |||
| Total Risk Alpha | (0.77) | |||
| Treynor Ratio | (1.34) |
Eidesvik Offshore ASA Backtested Returns
Eidesvik Offshore ASA secures Sharpe Ratio (or Efficiency) of -0.12, which denotes the company had a -0.12% return per unit of standard deviation over the last 3 months. Eidesvik Offshore ASA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eidesvik Offshore's Coefficient Of Variation of (553.21), standard deviation of 2.25, and Mean Deviation of 1.58 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.31, which means possible diversification benefits within a given portfolio. As returns on the market increase, Eidesvik Offshore's returns are expected to increase less than the market. However, during the bear market, the loss of holding Eidesvik Offshore is expected to be smaller as well. At this point, Eidesvik Offshore ASA has a negative expected return of -0.24%. Please make sure to confirm Eidesvik Offshore's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Eidesvik Offshore ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.22 |
Weak predictability
Eidesvik Offshore ASA has weak predictability. Overlapping area represents the amount of predictability between Eidesvik Offshore time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Eidesvik Offshore ASA price movement. The serial correlation of 0.22 indicates that over 22.0% of current Eidesvik Offshore price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Eidesvik Offshore ASA lagged returns against current returns
Autocorrelation, which is Eidesvik Offshore 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 Eidesvik Offshore's stock expected returns. We can calculate the autocorrelation of Eidesvik Offshore returns to help us make a trade decision. For example, suppose you find that Eidesvik Offshore 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 |
Eidesvik Offshore 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 Eidesvik Offshore stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eidesvik Offshore stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eidesvik Offshore stock over time.
Current vs Lagged Prices |
| Timeline |
Eidesvik Offshore Lagged Returns
When evaluating Eidesvik Offshore's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eidesvik Offshore stock have on its future price. Eidesvik Offshore 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, Eidesvik Offshore autocorrelation shows the relationship between Eidesvik Offshore stock current value and its past values and can show if there is a momentum factor associated with investing in Eidesvik Offshore ASA.
Regressed Prices |
| Timeline |
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Eidesvik Offshore financial ratios help investors to determine whether Eidesvik 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 Eidesvik with respect to the benefits of owning Eidesvik Offshore security.