Golden Ocean (Norway) Market Value
| GOGL Stock | NOK 122.45 0.05 0.04% |
| Symbol | Golden |
Golden Ocean '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 Golden Ocean'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 Golden Ocean.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Golden Ocean on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Golden Ocean Group or generate 0.0% return on investment in Golden Ocean over 30 days. Golden Ocean is related to or competes with Frontline, BW LPG, FLEX LNG, and Dampskibsselskabet. Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide More
Golden Ocean 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 Golden Ocean'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 Golden Ocean Group upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 11.02 | |||
| Value At Risk | (3.34) | |||
| Potential Upside | 3.35 |
Golden Ocean Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Golden Ocean's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Golden Ocean's standard deviation. In reality, there are many statistical measures that can use Golden Ocean historical prices to predict the future Golden Ocean's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.36) | |||
| Treynor Ratio | (0.27) |
Golden Ocean Group Backtested Returns
Golden Ocean Group holds Efficiency (Sharpe) Ratio of -0.0081, which attests that the entity had a -0.0081% return per unit of risk over the last 3 months. Golden Ocean Group exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Golden Ocean's Risk Adjusted Performance of (0.01), market risk adjusted performance of (0.26), and Standard Deviation of 2.03 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Golden Ocean's returns are expected to increase less than the market. However, during the bear market, the loss of holding Golden Ocean is expected to be smaller as well. At this point, Golden Ocean Group has a negative expected return of -0.0166%. Please make sure to check out Golden Ocean's information ratio, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Golden Ocean Group performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.89 |
Excellent reverse predictability
Golden Ocean Group has excellent reverse predictability. Overlapping area represents the amount of predictability between Golden Ocean time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 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 Golden Ocean Group price movement. The serial correlation of -0.89 indicates that approximately 89.0% of current Golden Ocean price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.89 | |
| Spearman Rank Test | -0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 24.13 |
Golden Ocean Group lagged returns against current returns
Autocorrelation, which is Golden Ocean 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 Golden Ocean's stock expected returns. We can calculate the autocorrelation of Golden Ocean returns to help us make a trade decision. For example, suppose you find that Golden Ocean 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 |
Golden Ocean 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 Golden Ocean stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Golden Ocean stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Golden Ocean stock over time.
Current vs Lagged Prices |
| Timeline |
Golden Ocean Lagged Returns
When evaluating Golden Ocean's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Golden Ocean stock have on its future price. Golden Ocean 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, Golden Ocean autocorrelation shows the relationship between Golden Ocean stock current value and its past values and can show if there is a momentum factor associated with investing in Golden Ocean Group.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectAdditional Information and Resources on Investing in Golden Stock
When determining whether Golden Ocean Group is a strong investment it is important to analyze Golden Ocean's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Golden Ocean's future performance. For an informed investment choice regarding Golden Stock, refer to the following important reports:Check out Golden Ocean Correlation, Golden Ocean Volatility and Golden Ocean Alpha and Beta module to complement your research on Golden Ocean. You can also try the Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Golden Ocean technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.