Norwegian Air (Norway) Market Value
| NAS Stock | NOK 11.29 0.48 4.44% |
| Symbol | Norwegian |
Norwegian Air '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 Norwegian Air'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 Norwegian Air.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Norwegian Air on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Norwegian Air Shuttle or generate 0.0% return on investment in Norwegian Air over 510 days. Norwegian Air is related to or competes with Danske Bank, Kongsberg Automotive, and Nel ASA. Norwegian Air Shuttle ASA, together with its subsidiaries, provides scheduled and charter airline services in Norway and... More
Norwegian Air 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 Norwegian Air'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 Norwegian Air Shuttle upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.21 | |||
| Information Ratio | 1.0E-4 | |||
| Maximum Drawdown | 18.94 | |||
| Value At Risk | (4.64) | |||
| Potential Upside | 4.41 |
Norwegian Air Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Norwegian Air's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Norwegian Air's standard deviation. In reality, there are many statistical measures that can use Norwegian Air historical prices to predict the future Norwegian Air's volatility.| Risk Adjusted Performance | 0.0377 | |||
| Jensen Alpha | 0.0496 | |||
| Total Risk Alpha | (0.39) | |||
| Sortino Ratio | 1.0E-4 | |||
| Treynor Ratio | 0.2034 |
Norwegian Air Shuttle Backtested Returns
As of now, Norwegian Stock is somewhat reliable. Norwegian Air Shuttle has Sharpe Ratio of 0.043, which conveys that the firm had a 0.043% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Norwegian Air, which you can use to evaluate the volatility of the firm. Please verify Norwegian Air's Risk Adjusted Performance of 0.0377, mean deviation of 2.36, and Downside Deviation of 4.21 to check out if the risk estimate we provide is consistent with the expected return of 0.14%. Norwegian Air has a performance score of 3 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.59, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Norwegian Air's returns are expected to increase less than the market. However, during the bear market, the loss of holding Norwegian Air is expected to be smaller as well. Norwegian Air Shuttle right now secures a risk of 3.32%. Please verify Norwegian Air Shuttle skewness, day typical price, and the relationship between the downside variance and daily balance of power , to decide if Norwegian Air Shuttle will be following its current price movements.
Auto-correlation | -0.32 |
Poor reverse predictability
Norwegian Air Shuttle has poor reverse predictability. Overlapping area represents the amount of predictability between Norwegian Air time series from 5th of July 2023 to 16th of March 2024 and 16th of March 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 Norwegian Air Shuttle price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current Norwegian Air price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.32 | |
| Spearman Rank Test | -0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 4.68 |
Norwegian Air Shuttle lagged returns against current returns
Autocorrelation, which is Norwegian Air 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 Norwegian Air's stock expected returns. We can calculate the autocorrelation of Norwegian Air returns to help us make a trade decision. For example, suppose you find that Norwegian Air 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 |
Norwegian Air 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 Norwegian Air stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norwegian Air stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Norwegian Air stock over time.
Current vs Lagged Prices |
| Timeline |
Norwegian Air Lagged Returns
When evaluating Norwegian Air's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Norwegian Air stock have on its future price. Norwegian Air 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, Norwegian Air autocorrelation shows the relationship between Norwegian Air stock current value and its past values and can show if there is a momentum factor associated with investing in Norwegian Air Shuttle.
Regressed Prices |
| Timeline |
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Norwegian Air financial ratios help investors to determine whether Norwegian 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 Norwegian with respect to the benefits of owning Norwegian Air security.