Nextensa (Belgium) Market Value
| NEXTA Stock | 39.00 0.40 1.02% |
| Symbol | Nextensa |
Nextensa '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 Nextensa'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 Nextensa.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Nextensa on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Nextensa NV or generate 0.0% return on investment in Nextensa over 30 days. Nextensa is related to or competes with Exmar NV, Unifiedpost Group, Montea CVA, Biocartis Group, Elia Group, and Fagron NV. More
Nextensa 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 Nextensa'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 Nextensa NV upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 6.7 | |||
| Value At Risk | (1.63) | |||
| Potential Upside | 1.54 |
Nextensa Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nextensa's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nextensa's standard deviation. In reality, there are many statistical measures that can use Nextensa historical prices to predict the future Nextensa's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.32) | |||
| Treynor Ratio | (2.48) |
Nextensa NV Backtested Returns
Nextensa NV has Sharpe Ratio of -0.11, which conveys that the firm had a -0.11% return per unit of risk over the last 3 months. Nextensa exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nextensa's Standard Deviation of 1.17, mean deviation of 0.8121, and Risk Adjusted Performance of (0.08) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0546, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nextensa's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nextensa is expected to be smaller as well. At this point, Nextensa NV has a negative expected return of -0.13%. Please make sure to verify Nextensa's potential upside, daily balance of power, as well as the relationship between the Daily Balance Of Power and market facilitation index , to decide if Nextensa NV performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.06 |
Virtually no predictability
Nextensa NV has virtually no predictability. Overlapping area represents the amount of predictability between Nextensa time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Nextensa NV price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Nextensa price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.87 |
Nextensa NV lagged returns against current returns
Autocorrelation, which is Nextensa 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 Nextensa's stock expected returns. We can calculate the autocorrelation of Nextensa returns to help us make a trade decision. For example, suppose you find that Nextensa 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 |
Nextensa 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 Nextensa stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nextensa stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nextensa stock over time.
Current vs Lagged Prices |
| Timeline |
Nextensa Lagged Returns
When evaluating Nextensa's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nextensa stock have on its future price. Nextensa 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, Nextensa autocorrelation shows the relationship between Nextensa stock current value and its past values and can show if there is a momentum factor associated with investing in Nextensa NV.
Regressed Prices |
| Timeline |
Pair Trading with Nextensa
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 Nextensa 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 Nextensa will appreciate offsetting losses from the drop in the long position's value.Moving together with Nextensa Stock
Moving against Nextensa Stock
The ability to find closely correlated positions to Nextensa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nextensa 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 Nextensa - 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 Nextensa NV to buy it.
The correlation of Nextensa 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 Nextensa moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nextensa NV 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 Nextensa 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 Nextensa Stock
Nextensa financial ratios help investors to determine whether Nextensa 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 Nextensa with respect to the benefits of owning Nextensa security.