Elkem ASA (Norway) Market Value
| ELK Stock | NOK 18.22 0.18 1.00% |
| Symbol | Elkem |
Elkem ASA '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 Elkem ASA'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 Elkem ASA.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in Elkem ASA on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding Elkem ASA or generate 0.0% return on investment in Elkem ASA over 720 days. Elkem ASA is related to or competes with Storebrand ASA, Yara International, Lery Seafood, DnB ASA, and Orkla ASA. Elkem ASA manufactures and sells metals and materials in Norway and internationally More
Elkem ASA 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 Elkem ASA'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 Elkem ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 12.04 | |||
| Value At Risk | (3.71) | |||
| Potential Upside | 3.38 |
Elkem ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elkem ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elkem ASA's standard deviation. In reality, there are many statistical measures that can use Elkem ASA historical prices to predict the future Elkem ASA's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (0.49) |
Elkem ASA Backtested Returns
Elkem ASA secures Sharpe Ratio (or Efficiency) of -0.0623, which denotes the company had a -0.0623% return per unit of risk over the last 3 months. Elkem ASA exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elkem ASA's Mean Deviation of 1.66, standard deviation of 2.21, and Variance of 4.88 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.34, which means possible diversification benefits within a given portfolio. As returns on the market increase, Elkem ASA's returns are expected to increase less than the market. However, during the bear market, the loss of holding Elkem ASA is expected to be smaller as well. At this point, Elkem ASA has a negative expected return of -0.14%. Please make sure to confirm Elkem ASA's total risk alpha, accumulation distribution, period momentum indicator, as well as the relationship between the potential upside and day median price , to decide if Elkem ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.37 |
Below average predictability
Elkem ASA has below average predictability. Overlapping area represents the amount of predictability between Elkem ASA 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 Elkem ASA price movement. The serial correlation of 0.37 indicates that just about 37.0% of current Elkem ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 2.67 |
Elkem ASA lagged returns against current returns
Autocorrelation, which is Elkem ASA 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 Elkem ASA's stock expected returns. We can calculate the autocorrelation of Elkem ASA returns to help us make a trade decision. For example, suppose you find that Elkem ASA 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 |
Elkem ASA 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 Elkem ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elkem ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elkem ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Elkem ASA Lagged Returns
When evaluating Elkem ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elkem ASA stock have on its future price. Elkem ASA 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, Elkem ASA autocorrelation shows the relationship between Elkem ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Elkem ASA.
Regressed Prices |
| Timeline |
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Elkem ASA financial ratios help investors to determine whether Elkem 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 Elkem with respect to the benefits of owning Elkem ASA security.