Elecnor SA (Spain) Market Value
| ENO Stock | EUR 20.05 0.35 1.78% |
| Symbol | Elecnor |
Elecnor SA '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 Elecnor SA'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 Elecnor SA.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Elecnor SA on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Elecnor SA or generate 0.0% return on investment in Elecnor SA over 30 days. Elecnor SA is related to or competes with Miquel Y, Construcciones, CIE Automotive, Metrovacesa, Mapfre, Coca Cola, and Cellnex Telecom. Elecnor, S.A. engages in infrastructure and concessions businesses in Spain and internationally More
Elecnor SA 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 Elecnor SA'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 Elecnor SA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.05 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 7.16 | |||
| Value At Risk | (1.72) | |||
| Potential Upside | 1.38 |
Elecnor SA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elecnor SA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elecnor SA's standard deviation. In reality, there are many statistical measures that can use Elecnor SA historical prices to predict the future Elecnor SA's volatility.| Risk Adjusted Performance | 0.0493 | |||
| Jensen Alpha | 0.0609 | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | (1.21) |
Elecnor SA Backtested Returns
At this point, Elecnor SA is very steady. Elecnor SA secures Sharpe Ratio (or Efficiency) of 0.11, which denotes the company had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Elecnor SA, which you can use to evaluate the volatility of the firm. Please confirm Elecnor SA's Downside Deviation of 1.05, coefficient of variation of 1652.77, and Mean Deviation of 0.7977 to check if the risk estimate we provide is consistent with the expected return of 0.12%. Elecnor SA has a performance score of 8 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.0458, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Elecnor SA are expected to decrease at a much lower rate. During the bear market, Elecnor SA is likely to outperform the market. Elecnor SA right now shows a risk of 1.08%. Please confirm Elecnor SA maximum drawdown, skewness, and the relationship between the total risk alpha and downside variance , to decide if Elecnor SA will be following its price patterns.
Auto-correlation | 0.08 |
Virtually no predictability
Elecnor SA has virtually no predictability. Overlapping area represents the amount of predictability between Elecnor SA time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Elecnor SA price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Elecnor SA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Elecnor SA lagged returns against current returns
Autocorrelation, which is Elecnor SA 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 Elecnor SA's stock expected returns. We can calculate the autocorrelation of Elecnor SA returns to help us make a trade decision. For example, suppose you find that Elecnor SA 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 |
Elecnor SA 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 Elecnor SA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elecnor SA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elecnor SA stock over time.
Current vs Lagged Prices |
| Timeline |
Elecnor SA Lagged Returns
When evaluating Elecnor SA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elecnor SA stock have on its future price. Elecnor SA 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, Elecnor SA autocorrelation shows the relationship between Elecnor SA stock current value and its past values and can show if there is a momentum factor associated with investing in Elecnor SA.
Regressed Prices |
| Timeline |
Also Currently Popular
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.Other Information on Investing in Elecnor Stock
Elecnor SA financial ratios help investors to determine whether Elecnor 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 Elecnor with respect to the benefits of owning Elecnor SA security.