Nanexa AB (Sweden) Market Value
| NANEXA Stock | 1.27 0.05 3.79% |
| Symbol | Nanexa |
Nanexa AB '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 Nanexa AB'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 Nanexa AB.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Nanexa AB on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Nanexa AB or generate 0.0% return on investment in Nanexa AB over 270 days. Nanexa AB is related to or competes with Corline Biomedical, Klaria Pharma, Mendus AB, Alzinova, and Lidds AB. More
Nanexa AB 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 Nanexa AB'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 Nanexa AB upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 29.5 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 8.2 |
Nanexa AB Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nanexa AB's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nanexa AB's standard deviation. In reality, there are many statistical measures that can use Nanexa AB historical prices to predict the future Nanexa AB's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.35) | |||
| Total Risk Alpha | (1.08) | |||
| Treynor Ratio | (5.96) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nanexa AB's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Nanexa AB Backtested Returns
Nanexa AB has Sharpe Ratio of -0.0885, which conveys that the firm had a -0.0885% return per unit of risk over the last 3 months. Nanexa AB exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nanexa AB's Standard Deviation of 4.65, mean deviation of 3.27, and Risk Adjusted Performance of (0.05) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0581, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nanexa AB's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nanexa AB is expected to be smaller as well. At this point, Nanexa AB has a negative expected return of -0.41%. Please make sure to verify Nanexa AB's skewness, as well as the relationship between the day median price and relative strength index , to decide if Nanexa AB performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.44 |
Modest reverse predictability
Nanexa AB has modest reverse predictability. Overlapping area represents the amount of predictability between Nanexa AB 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 Nanexa AB price movement. The serial correlation of -0.44 indicates that just about 44.0% of current Nanexa AB price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.44 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Nanexa AB lagged returns against current returns
Autocorrelation, which is Nanexa AB 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 Nanexa AB's stock expected returns. We can calculate the autocorrelation of Nanexa AB returns to help us make a trade decision. For example, suppose you find that Nanexa AB 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 |
Nanexa AB 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 Nanexa AB stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nanexa AB stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nanexa AB stock over time.
Current vs Lagged Prices |
| Timeline |
Nanexa AB Lagged Returns
When evaluating Nanexa AB's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nanexa AB stock have on its future price. Nanexa AB 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, Nanexa AB autocorrelation shows the relationship between Nanexa AB stock current value and its past values and can show if there is a momentum factor associated with investing in Nanexa AB.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Other Information on Investing in Nanexa Stock
Nanexa AB financial ratios help investors to determine whether Nanexa 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 Nanexa with respect to the benefits of owning Nanexa AB security.