Ennogie Solar (Denmark) Market Value
| ESG Stock | 6.52 0.26 4.15% |
| Symbol | Ennogie |
Ennogie Solar '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 Ennogie Solar'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 Ennogie Solar.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in Ennogie Solar on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding Ennogie Solar Group or generate 0.0% return on investment in Ennogie Solar over 720 days. Ennogie Solar is related to or competes with Green Hydrogen, ALK Abell, H Lundbeck, TORM Plc, and CBrain AS. More
Ennogie Solar 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 Ennogie Solar'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 Ennogie Solar Group upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 16.28 | |||
| Value At Risk | (6.08) | |||
| Potential Upside | 4.0 |
Ennogie Solar Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ennogie Solar's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ennogie Solar's standard deviation. In reality, there are many statistical measures that can use Ennogie Solar historical prices to predict the future Ennogie Solar's volatility.| Risk Adjusted Performance | (0.19) | |||
| Jensen Alpha | (0.64) | |||
| Total Risk Alpha | (1.15) | |||
| Treynor Ratio | 1.12 |
Ennogie Solar Group Backtested Returns
Ennogie Solar Group secures Sharpe Ratio (or Efficiency) of -0.27, which denotes the company had a -0.27% return per unit of risk over the last 3 months. Ennogie Solar Group exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Ennogie Solar's Variance of 7.7, mean deviation of 2.03, and Standard Deviation of 2.78 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.64, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Ennogie Solar are expected to decrease at a much lower rate. During the bear market, Ennogie Solar is likely to outperform the market. At this point, Ennogie Solar Group has a negative expected return of -0.75%. Please make sure to confirm Ennogie Solar's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Ennogie Solar Group performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.71 |
Good predictability
Ennogie Solar Group has good predictability. Overlapping area represents the amount of predictability between Ennogie Solar time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 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 Ennogie Solar Group price movement. The serial correlation of 0.71 indicates that around 71.0% of current Ennogie Solar price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.71 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 6.03 |
Ennogie Solar Group lagged returns against current returns
Autocorrelation, which is Ennogie Solar 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 Ennogie Solar's stock expected returns. We can calculate the autocorrelation of Ennogie Solar returns to help us make a trade decision. For example, suppose you find that Ennogie Solar 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 |
Ennogie Solar 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 Ennogie Solar stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ennogie Solar stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ennogie Solar stock over time.
Current vs Lagged Prices |
| Timeline |
Ennogie Solar Lagged Returns
When evaluating Ennogie Solar's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ennogie Solar stock have on its future price. Ennogie Solar 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, Ennogie Solar autocorrelation shows the relationship between Ennogie Solar stock current value and its past values and can show if there is a momentum factor associated with investing in Ennogie Solar Group.
Regressed Prices |
| Timeline |
Pair Trading with Ennogie Solar
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 Ennogie Solar 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 Ennogie Solar will appreciate offsetting losses from the drop in the long position's value.Moving against Ennogie Stock
| 0.85 | RILBA | Ringkjoebing Landbobank | PairCorr |
| 0.73 | MAERSK-B | AP Mller | PairCorr |
| 0.71 | MAERSK-A | AP Mller | PairCorr |
| 0.68 | GRLA | Groenlandsbanken | PairCorr |
| 0.68 | ALMB | Alm Brand | PairCorr |
The ability to find closely correlated positions to Ennogie Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ennogie Solar 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 Ennogie Solar - 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 Ennogie Solar Group to buy it.
The correlation of Ennogie Solar 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 Ennogie Solar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ennogie Solar Group 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 Ennogie Solar 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.Other Information on Investing in Ennogie Stock
Ennogie Solar financial ratios help investors to determine whether Ennogie 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 Ennogie with respect to the benefits of owning Ennogie Solar security.