Nigerian Stock's market value is the price at which a share of Nigerian Stock trades on a public exchange. It measures the collective expectations of Nigerian Stock Exchange investors about its performance. Nigerian Stock is listed for 97506.87 as of the 2nd of December 2024. This is a 0.28 percent decrease since the beginning of the trading day. The index's open price was 97783.81. With this module, you can estimate the performance of a buy and hold strategy of Nigerian Stock Exchange and determine expected loss or profit from investing in Nigerian Stock over a given investment horizon. Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any index could be closely tied with the direction of predictive economic indicators such as signals in nation.
Symbol
Nigerian
Nigerian Stock '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 Nigerian Stock's index 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 Nigerian Stock.
0.00
01/07/2024
No Change 0.00
0.0
In 10 months and 26 days
12/02/2024
0.00
If you would invest 0.00 in Nigerian Stock on January 7, 2024 and sell it all today you would earn a total of 0.00 from holding Nigerian Stock Exchange or generate 0.0% return on investment in Nigerian Stock over 330 days.
Nigerian Stock 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 Nigerian Stock's index 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 Nigerian Stock Exchange upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nigerian Stock's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nigerian Stock's standard deviation. In reality, there are many statistical measures that can use Nigerian Stock historical prices to predict the future Nigerian Stock's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Nigerian Stock. Your research has to be compared to or analyzed against Nigerian Stock's peers to derive any actionable benefits. When done correctly, Nigerian Stock's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Nigerian Stock Exchange.
Nigerian Stock Exchange Backtested Returns
Nigerian Stock Exchange has Sharpe Ratio of 0.0309, which conveys that the entity had a 0.0309% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nigerian Stock, which you can use to evaluate the volatility of the index. The index secures a Beta (Market Risk) of 0.0, which conveys not very significant fluctuations relative to the market. the returns on MARKET and Nigerian Stock are completely uncorrelated.
Auto-correlation
-0.39
Poor reverse predictability
Nigerian Stock Exchange has poor reverse predictability. Overlapping area represents the amount of predictability between Nigerian Stock time series from 7th of January 2024 to 20th of June 2024 and 20th of June 2024 to 2nd of December 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 Nigerian Stock Exchange price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Nigerian Stock price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.39
Spearman Rank Test
0.23
Residual Average
0.0
Price Variance
1.7 M
Nigerian Stock Exchange lagged returns against current returns
Autocorrelation, which is Nigerian Stock index'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 Nigerian Stock's index expected returns. We can calculate the autocorrelation of Nigerian Stock returns to help us make a trade decision. For example, suppose you find that Nigerian Stock has exhibited high autocorrelation historically, and you observe that the index 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
Nigerian Stock 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 Nigerian Stock index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nigerian Stock index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nigerian Stock index over time.
Current vs Lagged Prices
Timeline
Nigerian Stock Lagged Returns
When evaluating Nigerian Stock's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nigerian Stock index have on its future price. Nigerian Stock 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, Nigerian Stock autocorrelation shows the relationship between Nigerian Stock index current value and its past values and can show if there is a momentum factor associated with investing in Nigerian Stock Exchange.
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.