EROAD (Australia) Market Value
| ERD Stock | 0.84 0.04 5.00% |
| Symbol | EROAD |
EROAD '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 EROAD'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 EROAD.
| 09/30/2023 |
| 11/23/2024 |
If you would invest 0.00 in EROAD on September 30, 2023 and sell it all today you would earn a total of 0.00 from holding EROAD or generate 0.0% return on investment in EROAD over 420 days. EROAD is related to or competes with Microequities Asset, National Australia, Perpetual Credit, Pioneer Credit, and Prime Financial. EROAD is entity of Australia. It is traded as Stock on AU exchange. More
EROAD 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 EROAD'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 EROAD upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 16.24 | |||
| Value At Risk | (6.00) | |||
| Potential Upside | 3.75 |
EROAD Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EROAD's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EROAD's standard deviation. In reality, there are many statistical measures that can use EROAD historical prices to predict the future EROAD's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.62) | |||
| Total Risk Alpha | (1.05) | |||
| Treynor Ratio | (7.29) |
EROAD Backtested Returns
EROAD 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. EROAD exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EROAD's Mean Deviation of 2.52, standard deviation of 3.36, and Coefficient Of Variation of (554.40) to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0845, which means not very significant fluctuations relative to the market. As returns on the market increase, EROAD's returns are expected to increase less than the market. However, during the bear market, the loss of holding EROAD is expected to be smaller as well. At this point, EROAD has a negative expected return of -0.4%. Please make sure to confirm EROAD's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if EROAD performance from the past will be repeated at future time.
Auto-correlation | 0.67 |
Good predictability
EROAD has good predictability. Overlapping area represents the amount of predictability between EROAD time series from 30th of September 2023 to 27th of April 2024 and 27th of April 2024 to 23rd 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 EROAD price movement. The serial correlation of 0.67 indicates that around 67.0% of current EROAD price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | -0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
EROAD lagged returns against current returns
Autocorrelation, which is EROAD 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 EROAD's stock expected returns. We can calculate the autocorrelation of EROAD returns to help us make a trade decision. For example, suppose you find that EROAD 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 |
EROAD 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 EROAD stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EROAD stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EROAD stock over time.
Current vs Lagged Prices |
| Timeline |
EROAD Lagged Returns
When evaluating EROAD's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EROAD stock have on its future price. EROAD 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, EROAD autocorrelation shows the relationship between EROAD stock current value and its past values and can show if there is a momentum factor associated with investing in EROAD.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for EROAD Stock Analysis
When running EROAD's price analysis, check to measure EROAD'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 EROAD is operating at the current time. Most of EROAD's value examination focuses on studying past and present price action to predict the probability of EROAD's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EROAD's price. Additionally, you may evaluate how the addition of EROAD to your portfolios can decrease your overall portfolio volatility.