Grendene (Brazil) Market Value
| GRND3 Stock | BRL 5.22 0.07 1.32% |
| Symbol | Grendene |
Grendene '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 Grendene'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 Grendene.
| 01/31/2024 |
| 11/26/2024 |
If you would invest 0.00 in Grendene on January 31, 2024 and sell it all today you would earn a total of 0.00 from holding Grendene SA or generate 0.0% return on investment in Grendene over 300 days. Grendene is related to or competes with M Dias, Fleury SA, Engie Brasil, Odontoprev, and EZTEC Empreendimentos. Grendene S.A. develops, manufactures, distributes, and sells footwear for men, women, and children primarily in Brazil More
Grendene 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 Grendene'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 Grendene SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 6.03 | |||
| Value At Risk | (1.97) | |||
| Potential Upside | 1.69 |
Grendene Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Grendene's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Grendene's standard deviation. In reality, there are many statistical measures that can use Grendene historical prices to predict the future Grendene's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.23) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.80) |
Grendene SA Backtested Returns
Grendene SA holds Efficiency (Sharpe) Ratio of -0.16, which attests that the entity had a -0.16% return per unit of risk over the last 3 months. Grendene SA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Grendene's Market Risk Adjusted Performance of (0.79), standard deviation of 1.2, and Risk Adjusted Performance of (0.12) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.25, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Grendene's returns are expected to increase less than the market. However, during the bear market, the loss of holding Grendene is expected to be smaller as well. At this point, Grendene SA has a negative expected return of -0.19%. Please make sure to check out Grendene's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Grendene SA performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.04 |
Very weak reverse predictability
Grendene SA has very weak reverse predictability. Overlapping area represents the amount of predictability between Grendene time series from 31st of January 2024 to 29th of June 2024 and 29th of June 2024 to 26th 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 Grendene SA price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current Grendene price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Grendene SA lagged returns against current returns
Autocorrelation, which is Grendene 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 Grendene's stock expected returns. We can calculate the autocorrelation of Grendene returns to help us make a trade decision. For example, suppose you find that Grendene 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 |
Grendene 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 Grendene stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Grendene stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Grendene stock over time.
Current vs Lagged Prices |
| Timeline |
Grendene Lagged Returns
When evaluating Grendene's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Grendene stock have on its future price. Grendene 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, Grendene autocorrelation shows the relationship between Grendene stock current value and its past values and can show if there is a momentum factor associated with investing in Grendene 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 Grendene Stock Analysis
When running Grendene's price analysis, check to measure Grendene'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 Grendene is operating at the current time. Most of Grendene's value examination focuses on studying past and present price action to predict the probability of Grendene's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Grendene's price. Additionally, you may evaluate how the addition of Grendene to your portfolios can decrease your overall portfolio volatility.