Hove AS (Denmark) Market Value
| HOVE Stock | 3.30 0.08 2.48% |
| Symbol | Hove |
Hove AS '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 Hove AS'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 Hove AS.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Hove AS on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Hove AS or generate 0.0% return on investment in Hove AS over 720 days. Hove AS is related to or competes with FOM Technologies, Shape Robotics, Dataproces Group, and Green Hydrogen. More
Hove AS 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 Hove AS'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 Hove AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 19.69 | |||
| Value At Risk | (5.33) | |||
| Potential Upside | 4.67 |
Hove AS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hove AS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hove AS's standard deviation. In reality, there are many statistical measures that can use Hove AS historical prices to predict the future Hove AS's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.57) | |||
| Treynor Ratio | (0.16) |
Hove AS Backtested Returns
Hove AS holds Efficiency (Sharpe) Ratio of -0.0261, which attests that the entity had a -0.0261% return per unit of risk over the last 3 months. Hove AS exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hove AS's Risk Adjusted Performance of (0.01), market risk adjusted performance of (0.15), and Standard Deviation of 3.16 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.45, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Hove AS's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hove AS is expected to be smaller as well. At this point, Hove AS has a negative expected return of -0.0839%. Please make sure to check out Hove AS's skewness, accumulation distribution, and the relationship between the potential upside and kurtosis , to decide if Hove AS performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.81 |
Excellent reverse predictability
Hove AS has excellent reverse predictability. Overlapping area represents the amount of predictability between Hove AS time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th 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 Hove AS price movement. The serial correlation of -0.81 indicates that around 81.0% of current Hove AS price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.81 | |
| Spearman Rank Test | -0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 1.21 |
Hove AS lagged returns against current returns
Autocorrelation, which is Hove AS 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 Hove AS's stock expected returns. We can calculate the autocorrelation of Hove AS returns to help us make a trade decision. For example, suppose you find that Hove AS 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 |
Hove AS 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 Hove AS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hove AS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hove AS stock over time.
Current vs Lagged Prices |
| Timeline |
Hove AS Lagged Returns
When evaluating Hove AS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hove AS stock have on its future price. Hove AS 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, Hove AS autocorrelation shows the relationship between Hove AS stock current value and its past values and can show if there is a momentum factor associated with investing in Hove AS.
Regressed Prices |
| Timeline |
Pair Trading with Hove AS
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Hove AS position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Hove AS will appreciate offsetting losses from the drop in the long position's value.Moving against Hove Stock
The ability to find closely correlated positions to Hove AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hove AS when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hove AS - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hove AS to buy it.
The correlation of Hove AS is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hove AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hove AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Hove AS can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Hove Stock
Hove AS financial ratios help investors to determine whether Hove 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 Hove with respect to the benefits of owning Hove AS security.