Eternit SA (Brazil) Market Value
| ETER3 Stock | BRL 5.84 0.23 4.10% |
| Symbol | Eternit |
Eternit 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 Eternit 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 Eternit SA.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Eternit SA on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Eternit SA or generate 0.0% return on investment in Eternit SA over 30 days. Eternit SA is related to or competes with Companhia, Rede Energia, CTEEP Companhia, Rio Paranapanema, Nordon Indstrias, and Panatlntica. The company also offers fiber cement tiles, concrete tiles, parts, solar roof titles, cement plates, and wall panel prod... More
Eternit 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 Eternit 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 Eternit SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 8.41 | |||
| Value At Risk | (2.83) | |||
| Potential Upside | 2.79 |
Eternit SA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eternit SA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eternit SA's standard deviation. In reality, there are many statistical measures that can use Eternit SA historical prices to predict the future Eternit SA's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.37) |
Eternit SA Backtested Returns
Eternit SA secures Sharpe Ratio (or Efficiency) of -0.0476, which denotes the company had a -0.0476% return per unit of risk over the last 3 months. Eternit SA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eternit SA's Variance of 3.51, mean deviation of 1.33, and Standard Deviation of 1.87 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.26, which means not very significant fluctuations relative to the market. As returns on the market increase, Eternit SA's returns are expected to increase less than the market. However, during the bear market, the loss of holding Eternit SA is expected to be smaller as well. At this point, Eternit SA has a negative expected return of -0.0874%. Please make sure to confirm Eternit SA's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Eternit SA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.22 |
Weak predictability
Eternit SA has weak predictability. Overlapping area represents the amount of predictability between Eternit 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 Eternit SA price movement. The serial correlation of 0.22 indicates that over 22.0% of current Eternit SA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Eternit SA lagged returns against current returns
Autocorrelation, which is Eternit 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 Eternit SA's stock expected returns. We can calculate the autocorrelation of Eternit SA returns to help us make a trade decision. For example, suppose you find that Eternit 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 |
Eternit 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 Eternit SA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eternit SA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eternit SA stock over time.
Current vs Lagged Prices |
| Timeline |
Eternit SA Lagged Returns
When evaluating Eternit SA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eternit SA stock have on its future price. Eternit 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, Eternit SA autocorrelation shows the relationship between Eternit SA stock current value and its past values and can show if there is a momentum factor associated with investing in Eternit SA.
Regressed Prices |
| Timeline |
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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.Additional Tools for Eternit Stock Analysis
When running Eternit SA's price analysis, check to measure Eternit SA'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 Eternit SA is operating at the current time. Most of Eternit SA's value examination focuses on studying past and present price action to predict the probability of Eternit SA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eternit SA's price. Additionally, you may evaluate how the addition of Eternit SA to your portfolios can decrease your overall portfolio volatility.