Goodyear Tire (Mexico) Market Value
| GT Stock | MXN 217.00 7.00 3.33% |
| Symbol | Goodyear |
Goodyear Tire '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 Goodyear Tire'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 Goodyear Tire.
| 12/15/2022 |
| 12/04/2024 |
If you would invest 0.00 in Goodyear Tire on December 15, 2022 and sell it all today you would earn a total of 0.00 from holding The Goodyear Tire or generate 0.0% return on investment in Goodyear Tire over 720 days. Goodyear Tire is related to or competes with Verizon Communications, KB Home, Prudential Financial, Ameriprise Financial, Micron Technology, and First Republic. The Goodyear Tire Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires a... More
Goodyear Tire 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 Goodyear Tire'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 The Goodyear Tire upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.1504 | |||
| Maximum Drawdown | 15.48 | |||
| Potential Upside | 5.12 |
Goodyear Tire Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodyear Tire's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodyear Tire's standard deviation. In reality, there are many statistical measures that can use Goodyear Tire historical prices to predict the future Goodyear Tire's volatility.| Risk Adjusted Performance | 0.1605 | |||
| Jensen Alpha | 0.3301 | |||
| Total Risk Alpha | 0.1362 | |||
| Treynor Ratio | 0.4304 |
Goodyear Tire Backtested Returns
Goodyear Tire appears to be very steady, given 3 months investment horizon. Goodyear Tire holds Efficiency (Sharpe) Ratio of 0.17, which attests that the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Goodyear Tire, which you can use to evaluate the volatility of the firm. Please utilize Goodyear Tire's Market Risk Adjusted Performance of 0.4404, risk adjusted performance of 0.1605, and Standard Deviation of 2.2 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Goodyear Tire holds a performance score of 13. The company retains a Market Volatility (i.e., Beta) of 1.01, which attests to a somewhat significant risk relative to the market. Goodyear Tire returns are very sensitive to returns on the market. As the market goes up or down, Goodyear Tire is expected to follow. Please check Goodyear Tire's jensen alpha, as well as the relationship between the daily balance of power and period momentum indicator , to make a quick decision on whether Goodyear Tire's current trending patterns will revert.
Auto-correlation | -0.23 |
Weak reverse predictability
The Goodyear Tire has weak reverse predictability. Overlapping area represents the amount of predictability between Goodyear Tire time series from 15th of December 2022 to 10th of December 2023 and 10th of December 2023 to 4th of December 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 Goodyear Tire price movement. The serial correlation of -0.23 indicates that over 23.0% of current Goodyear Tire price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.23 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 926.35 |
Goodyear Tire lagged returns against current returns
Autocorrelation, which is Goodyear Tire 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 Goodyear Tire's stock expected returns. We can calculate the autocorrelation of Goodyear Tire returns to help us make a trade decision. For example, suppose you find that Goodyear Tire 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 |
Goodyear Tire 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 Goodyear Tire stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodyear Tire stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodyear Tire stock over time.
Current vs Lagged Prices |
| Timeline |
Goodyear Tire Lagged Returns
When evaluating Goodyear Tire's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodyear Tire stock have on its future price. Goodyear Tire 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, Goodyear Tire autocorrelation shows the relationship between Goodyear Tire stock current value and its past values and can show if there is a momentum factor associated with investing in The Goodyear Tire.
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.Additional Tools for Goodyear Stock Analysis
When running Goodyear Tire's price analysis, check to measure Goodyear Tire'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 Goodyear Tire is operating at the current time. Most of Goodyear Tire's value examination focuses on studying past and present price action to predict the probability of Goodyear Tire's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Goodyear Tire's price. Additionally, you may evaluate how the addition of Goodyear Tire to your portfolios can decrease your overall portfolio volatility.