Gofore Oyj (Finland) Market Value
| GOFORE Stock | EUR 22.95 1.15 5.28% |
| Symbol | Gofore |
Gofore Oyj '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 Gofore Oyj'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 Gofore Oyj.
| 12/10/2022 |
| 11/29/2024 |
If you would invest 0.00 in Gofore Oyj on December 10, 2022 and sell it all today you would earn a total of 0.00 from holding Gofore Oyj or generate 0.0% return on investment in Gofore Oyj over 720 days. Gofore Oyj is related to or competes with Qt Group, Harvia Oyj, TietoEVRY Corp, Kamux Suomi, and Revenio. Gofore Oyj provides digitalization services for corporate customers and public sector operators in Finland and rest of E... More
Gofore Oyj 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 Gofore Oyj'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 Gofore Oyj upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.62 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 6.92 | |||
| Value At Risk | (2.31) | |||
| Potential Upside | 3.17 |
Gofore Oyj Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gofore Oyj's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gofore Oyj's standard deviation. In reality, there are many statistical measures that can use Gofore Oyj historical prices to predict the future Gofore Oyj's volatility.| Risk Adjusted Performance | 0.0405 | |||
| Jensen Alpha | 0.0617 | |||
| Total Risk Alpha | (0.19) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 1.15 |
Gofore Oyj Backtested Returns
At this point, Gofore Oyj is very steady. Gofore Oyj holds Efficiency (Sharpe) Ratio of 0.0464, which attests that the entity had a 0.0464% return per unit of risk over the last 3 months. We have found thirty technical indicators for Gofore Oyj, which you can use to evaluate the volatility of the firm. Please check out Gofore Oyj's Risk Adjusted Performance of 0.0405, downside deviation of 1.62, and Market Risk Adjusted Performance of 1.16 to validate if the risk estimate we provide is consistent with the expected return of 0.0809%. Gofore Oyj has a performance score of 3 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.0596, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Gofore Oyj's returns are expected to increase less than the market. However, during the bear market, the loss of holding Gofore Oyj is expected to be smaller as well. Gofore Oyj right now retains a risk of 1.74%. Please check out Gofore Oyj jensen alpha, skewness, relative strength index, as well as the relationship between the value at risk and day median price , to decide if Gofore Oyj will be following its current trending patterns.
Auto-correlation | 0.41 |
Average predictability
Gofore Oyj has average predictability. Overlapping area represents the amount of predictability between Gofore Oyj time series from 10th of December 2022 to 5th of December 2023 and 5th of December 2023 to 29th 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 Gofore Oyj price movement. The serial correlation of 0.41 indicates that just about 41.0% of current Gofore Oyj price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.41 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 1.74 |
Gofore Oyj lagged returns against current returns
Autocorrelation, which is Gofore Oyj 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 Gofore Oyj's stock expected returns. We can calculate the autocorrelation of Gofore Oyj returns to help us make a trade decision. For example, suppose you find that Gofore Oyj 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 |
Gofore Oyj 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 Gofore Oyj stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gofore Oyj stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gofore Oyj stock over time.
Current vs Lagged Prices |
| Timeline |
Gofore Oyj Lagged Returns
When evaluating Gofore Oyj's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gofore Oyj stock have on its future price. Gofore Oyj 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, Gofore Oyj autocorrelation shows the relationship between Gofore Oyj stock current value and its past values and can show if there is a momentum factor associated with investing in Gofore Oyj.
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 Gofore Stock
Gofore Oyj financial ratios help investors to determine whether Gofore 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 Gofore with respect to the benefits of owning Gofore Oyj security.