Grenergy Renovables (Spain) Market Value
| GRE Stock | EUR 28.40 0.45 1.61% |
| Symbol | Grenergy |
Grenergy Renovables '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 Grenergy Renovables' 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 Grenergy Renovables.
| 09/30/2023 |
| 11/23/2024 |
If you would invest 0.00 in Grenergy Renovables on September 30, 2023 and sell it all today you would earn a total of 0.00 from holding Grenergy Renovables SA or generate 0.0% return on investment in Grenergy Renovables over 420 days. Grenergy Renovables is related to or competes with Solaria Energa, Audax Renovables, Pharma Mar, and Cellnex Telecom. Grenergy Renovables, S.A., together with its subsidiaries, operates as an independent power producer More
Grenergy Renovables 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 Grenergy Renovables' 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 Grenergy Renovables SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 20.36 | |||
| Value At Risk | (3.29) | |||
| Potential Upside | 4.21 |
Grenergy Renovables Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Grenergy Renovables' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Grenergy Renovables' standard deviation. In reality, there are many statistical measures that can use Grenergy Renovables historical prices to predict the future Grenergy Renovables' volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.59) | |||
| Treynor Ratio | 0.5286 |
Grenergy Renovables Backtested Returns
Grenergy Renovables holds Efficiency (Sharpe) Ratio of -0.0848, which attests that the entity had a -0.0848% return per unit of risk over the last 3 months. Grenergy Renovables exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Grenergy Renovables' Risk Adjusted Performance of (0.06), market risk adjusted performance of 0.5386, and Standard Deviation of 2.65 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.47, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Grenergy Renovables are expected to decrease at a much lower rate. During the bear market, Grenergy Renovables is likely to outperform the market. At this point, Grenergy Renovables has a negative expected return of -0.23%. Please make sure to check out Grenergy Renovables' standard deviation, maximum drawdown, kurtosis, as well as the relationship between the total risk alpha and potential upside , to decide if Grenergy Renovables performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.54 |
Modest predictability
Grenergy Renovables SA has modest predictability. Overlapping area represents the amount of predictability between Grenergy Renovables 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 Grenergy Renovables price movement. The serial correlation of 0.54 indicates that about 54.0% of current Grenergy Renovables price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 8.38 |
Grenergy Renovables lagged returns against current returns
Autocorrelation, which is Grenergy Renovables 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 Grenergy Renovables' stock expected returns. We can calculate the autocorrelation of Grenergy Renovables returns to help us make a trade decision. For example, suppose you find that Grenergy Renovables 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 |
Grenergy Renovables 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 Grenergy Renovables stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Grenergy Renovables stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Grenergy Renovables stock over time.
Current vs Lagged Prices |
| Timeline |
Grenergy Renovables Lagged Returns
When evaluating Grenergy Renovables' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Grenergy Renovables stock have on its future price. Grenergy Renovables 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, Grenergy Renovables autocorrelation shows the relationship between Grenergy Renovables stock current value and its past values and can show if there is a momentum factor associated with investing in Grenergy Renovables SA.
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 Grenergy Stock
Grenergy Renovables financial ratios help investors to determine whether Grenergy 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 Grenergy with respect to the benefits of owning Grenergy Renovables security.