Icelandair Group (Iceland) Market Value
| ICEAIR Stock | ISK 1.21 0.01 0.83% |
| Symbol | Icelandair |
Icelandair Group '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 Icelandair Group'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 Icelandair Group.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Icelandair Group on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Icelandair Group hf or generate 0.0% return on investment in Icelandair Group over 270 days. Icelandair Group is related to or competes with Alvotech, and . Icelandair Group hf., together with its subsidiaries, operates in the airline and tourism sectors More
Icelandair Group 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 Icelandair Group'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 Icelandair Group hf upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.29 | |||
| Information Ratio | 0.1205 | |||
| Maximum Drawdown | 13.7 | |||
| Value At Risk | (3.39) | |||
| Potential Upside | 5.17 |
Icelandair Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Icelandair Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Icelandair Group's standard deviation. In reality, there are many statistical measures that can use Icelandair Group historical prices to predict the future Icelandair Group's volatility.| Risk Adjusted Performance | 0.1373 | |||
| Jensen Alpha | 0.4031 | |||
| Total Risk Alpha | 0.0226 | |||
| Sortino Ratio | 0.1397 | |||
| Treynor Ratio | 1.44 |
Icelandair Group Backtested Returns
Icelandair Group appears to be very risky, given 3 months investment horizon. Icelandair Group holds Efficiency (Sharpe) Ratio of 0.18, which attests that the entity had a 0.18% return per unit of risk over the last 3 months. We have found thirty technical indicators for Icelandair Group, which you can use to evaluate the volatility of the firm. Please utilize Icelandair Group's Downside Deviation of 2.29, market risk adjusted performance of 1.45, and Risk Adjusted Performance of 0.1373 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Icelandair Group holds a performance score of 14. The company retains a Market Volatility (i.e., Beta) of 0.31, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Icelandair Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding Icelandair Group is expected to be smaller as well. Please check Icelandair Group's maximum drawdown, skewness, and the relationship between the total risk alpha and downside variance , to make a quick decision on whether Icelandair Group's current trending patterns will revert.
Auto-correlation | -0.76 |
Almost perfect reverse predictability
Icelandair Group hf has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Icelandair Group time series from 27th of February 2024 to 11th of July 2024 and 11th of July 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 Icelandair Group price movement. The serial correlation of -0.76 indicates that around 76.0% of current Icelandair Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.76 | |
| Spearman Rank Test | -0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Icelandair Group lagged returns against current returns
Autocorrelation, which is Icelandair Group 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 Icelandair Group's stock expected returns. We can calculate the autocorrelation of Icelandair Group returns to help us make a trade decision. For example, suppose you find that Icelandair Group 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 |
Icelandair Group 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 Icelandair Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Icelandair Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Icelandair Group stock over time.
Current vs Lagged Prices |
| Timeline |
Icelandair Group Lagged Returns
When evaluating Icelandair Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Icelandair Group stock have on its future price. Icelandair Group 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, Icelandair Group autocorrelation shows the relationship between Icelandair Group stock current value and its past values and can show if there is a momentum factor associated with investing in Icelandair Group hf.
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 Icelandair Stock
Icelandair Group financial ratios help investors to determine whether Icelandair 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 Icelandair with respect to the benefits of owning Icelandair Group security.