Nel ASA (Norway) Market Value
| NEL Stock | NOK 3.12 0.16 5.41% |
| Symbol | Nel |
Nel ASA '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 Nel ASA'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 Nel ASA.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Nel ASA on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Nel ASA or generate 0.0% return on investment in Nel ASA over 30 days. Nel ASA is related to or competes with Eidesvik Offshore, Kitron ASA, Havila Shipping, Elkem ASA, Vow ASA, North Energy, and Arcticzymes Technologies. Nel ASA, a hydrogen company, delivers various solutions to produce, store, and distribute hydrogen from renewable energy... More
Nel ASA 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 Nel ASA'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 Nel ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 18.69 | |||
| Value At Risk | (7.24) | |||
| Potential Upside | 5.6 |
Nel ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nel ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nel ASA's standard deviation. In reality, there are many statistical measures that can use Nel ASA historical prices to predict the future Nel ASA's volatility.| Risk Adjusted Performance | (0.16) | |||
| Jensen Alpha | (0.78) | |||
| Total Risk Alpha | (1.44) | |||
| Treynor Ratio | 1.66 |
Nel ASA Backtested Returns
Nel ASA has Sharpe Ratio of -0.2, which conveys that the firm had a -0.2% return per unit of risk over the last 3 months. Nel ASA exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nel ASA's Standard Deviation of 3.79, risk adjusted performance of (0.16), and Mean Deviation of 2.87 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.51, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Nel ASA are expected to decrease at a much lower rate. During the bear market, Nel ASA is likely to outperform the market. At this point, Nel ASA has a negative expected return of -0.77%. Please make sure to verify Nel ASA's skewness, and the relationship between the treynor ratio and daily balance of power , to decide if Nel ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.84 |
Very good predictability
Nel ASA has very good predictability. Overlapping area represents the amount of predictability between Nel ASA time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Nel ASA price movement. The serial correlation of 0.84 indicates that around 84.0% of current Nel ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.84 | |
| Spearman Rank Test | 0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Nel ASA lagged returns against current returns
Autocorrelation, which is Nel ASA 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 Nel ASA's stock expected returns. We can calculate the autocorrelation of Nel ASA returns to help us make a trade decision. For example, suppose you find that Nel ASA 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 |
Nel ASA 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 Nel ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nel ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nel ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Nel ASA Lagged Returns
When evaluating Nel ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nel ASA stock have on its future price. Nel ASA 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, Nel ASA autocorrelation shows the relationship between Nel ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Nel ASA.
Regressed Prices |
| Timeline |
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Nel ASA financial ratios help investors to determine whether Nel 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 Nel with respect to the benefits of owning Nel ASA security.