Elia Group (Belgium) Market Value
| ELI Stock | EUR 87.60 0.35 0.40% |
| Symbol | Elia |
Elia Group '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 Elia Group'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 Elia Group.
| 10/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Elia Group on October 4, 2023 and sell it all today you would earn a total of 0.00 from holding Elia Group SANV or generate 0.0% return on investment in Elia Group over 420 days. Elia Group is related to or competes with Ackermans Van, Groep Brussel, Sofina Socit, Ageas SANV, and Solvay SA. Elia Group SANV operates a transmission system for the electricity network, and for the offshore grids in Belgium and in... More
Elia Group 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 Elia Group'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 Elia Group SANV upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 6.64 | |||
| Value At Risk | (3.25) | |||
| Potential Upside | 2.5 |
Elia Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elia Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elia Group's standard deviation. In reality, there are many statistical measures that can use Elia Group historical prices to predict the future Elia Group's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.43) | |||
| Treynor Ratio | (2.10) |
Elia Group SANV Backtested Returns
Elia Group SANV secures Sharpe Ratio (or Efficiency) of -0.0876, which denotes the company had a -0.0876% return per unit of risk over the last 3 months. Elia Group SANV exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elia Group's Mean Deviation of 1.24, standard deviation of 1.65, and Variance of 2.71 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.079, which means not very significant fluctuations relative to the market. As returns on the market increase, Elia Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding Elia Group is expected to be smaller as well. At this point, Elia Group SANV has a negative expected return of -0.15%. Please make sure to confirm Elia Group's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Elia Group SANV performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.28 |
Poor predictability
Elia Group SANV has poor predictability. Overlapping area represents the amount of predictability between Elia Group time series from 4th of October 2023 to 1st of May 2024 and 1st of May 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 Elia Group SANV price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current Elia Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.28 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 28.06 |
Elia Group SANV lagged returns against current returns
Autocorrelation, which is Elia Group 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 Elia Group's stock expected returns. We can calculate the autocorrelation of Elia Group returns to help us make a trade decision. For example, suppose you find that Elia Group 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 |
Elia Group 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 Elia Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elia Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elia Group stock over time.
Current vs Lagged Prices |
| Timeline |
Elia Group Lagged Returns
When evaluating Elia Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elia Group stock have on its future price. Elia Group 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, Elia Group autocorrelation shows the relationship between Elia Group stock current value and its past values and can show if there is a momentum factor associated with investing in Elia Group SANV.
Regressed Prices |
| Timeline |
Pair Trading with Elia Group
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 Elia Group 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 Elia Group will appreciate offsetting losses from the drop in the long position's value.Moving together with Elia Stock
Moving against Elia Stock
The ability to find closely correlated positions to Elia Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elia Group 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 Elia Group - 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 Elia Group SANV to buy it.
The correlation of Elia Group 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 Elia Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elia Group SANV 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 Elia Group 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.Additional Tools for Elia Stock Analysis
When running Elia Group's price analysis, check to measure Elia Group'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 Elia Group is operating at the current time. Most of Elia Group's value examination focuses on studying past and present price action to predict the probability of Elia Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elia Group's price. Additionally, you may evaluate how the addition of Elia Group to your portfolios can decrease your overall portfolio volatility.