Elliptic Laboratories (Norway) Market Value
| ELABS Stock | NOK 9.47 0.33 3.37% |
| Symbol | Elliptic |
Elliptic Laboratories '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 Elliptic Laboratories' 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 Elliptic Laboratories.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Elliptic Laboratories on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Elliptic Laboratories AS or generate 0.0% return on investment in Elliptic Laboratories over 720 days. Elliptic Laboratories is related to or competes with Polight ASA, ExpreS2ion Biotech, Kongsberg Automotive, and Everfuel. Elliptic Laboratories AS provides software-based artificial intelligence virtual smart sensors in Norway, China, South K... More
Elliptic Laboratories 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 Elliptic Laboratories' 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 Elliptic Laboratories AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 23.83 | |||
| Value At Risk | (5.01) | |||
| Potential Upside | 4.69 |
Elliptic Laboratories Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elliptic Laboratories' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elliptic Laboratories' standard deviation. In reality, there are many statistical measures that can use Elliptic Laboratories historical prices to predict the future Elliptic Laboratories' volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.26) | |||
| Total Risk Alpha | (0.84) | |||
| Treynor Ratio | 1.66 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Elliptic Laboratories' 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.
Elliptic Laboratories Backtested Returns
Elliptic Laboratories secures Sharpe Ratio (or Efficiency) of -0.12, which denotes the company had a -0.12% return per unit of risk over the last 3 months. Elliptic Laboratories AS exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elliptic Laboratories' Mean Deviation of 2.51, variance of 12.78, and Standard Deviation of 3.57 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.17, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Elliptic Laboratories are expected to decrease at a much lower rate. During the bear market, Elliptic Laboratories is likely to outperform the market. At this point, Elliptic Laboratories has a negative expected return of -0.42%. Please make sure to confirm Elliptic Laboratories' maximum drawdown, as well as the relationship between the daily balance of power and period momentum indicator , to decide if Elliptic Laboratories performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.29 |
Poor predictability
Elliptic Laboratories AS has poor predictability. Overlapping area represents the amount of predictability between Elliptic Laboratories time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th 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 Elliptic Laboratories price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Elliptic Laboratories price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 5.06 |
Elliptic Laboratories lagged returns against current returns
Autocorrelation, which is Elliptic Laboratories 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 Elliptic Laboratories' stock expected returns. We can calculate the autocorrelation of Elliptic Laboratories returns to help us make a trade decision. For example, suppose you find that Elliptic Laboratories 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 |
Elliptic Laboratories 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 Elliptic Laboratories stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elliptic Laboratories stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elliptic Laboratories stock over time.
Current vs Lagged Prices |
| Timeline |
Elliptic Laboratories Lagged Returns
When evaluating Elliptic Laboratories' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elliptic Laboratories stock have on its future price. Elliptic Laboratories 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, Elliptic Laboratories autocorrelation shows the relationship between Elliptic Laboratories stock current value and its past values and can show if there is a momentum factor associated with investing in Elliptic Laboratories AS.
Regressed Prices |
| Timeline |
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Elliptic Laboratories financial ratios help investors to determine whether Elliptic 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 Elliptic with respect to the benefits of owning Elliptic Laboratories security.