Nitro Games (Sweden) Market Value
| NITRO Stock | SEK 2.30 0.02 0.88% |
| Symbol | Nitro |
Nitro Games '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 Nitro Games' 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 Nitro Games.
| 12/06/2022 |
| 11/25/2024 |
If you would invest 0.00 in Nitro Games on December 6, 2022 and sell it all today you would earn a total of 0.00 from holding Nitro Games Oyj or generate 0.0% return on investment in Nitro Games over 720 days. Nitro Games is related to or competes with Flexion Mobile, IZafe Group, KABE Group, IAR Systems, Norva24 Group, Clinical Laserthermia, and EEducation Albert. Nitro Games Oyj develops and publishes games for smartphones and tablets worldwide More
Nitro Games 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 Nitro Games' 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 Nitro Games Oyj upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 28.88 | |||
| Value At Risk | (5.96) | |||
| Potential Upside | 5.88 |
Nitro Games Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nitro Games' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nitro Games' standard deviation. In reality, there are many statistical measures that can use Nitro Games historical prices to predict the future Nitro Games' volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.47) | |||
| Total Risk Alpha | (1.20) | |||
| Treynor Ratio | (1.91) |
Nitro Games Oyj Backtested Returns
Nitro Games Oyj has Sharpe Ratio of -0.0723, which conveys that the firm had a -0.0723% return per unit of risk over the last 3 months. Nitro Games exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nitro Games' Mean Deviation of 2.99, standard deviation of 4.77, and Risk Adjusted Performance of (0.06) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.23, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nitro Games' returns are expected to increase less than the market. However, during the bear market, the loss of holding Nitro Games is expected to be smaller as well. At this point, Nitro Games Oyj has a negative expected return of -0.35%. Please make sure to verify Nitro Games' maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and market facilitation index , to decide if Nitro Games Oyj performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.73 |
Good predictability
Nitro Games Oyj has good predictability. Overlapping area represents the amount of predictability between Nitro Games time series from 6th of December 2022 to 1st of December 2023 and 1st of December 2023 to 25th 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 Nitro Games Oyj price movement. The serial correlation of 0.73 indicates that around 73.0% of current Nitro Games price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.73 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 0.8 |
Nitro Games Oyj lagged returns against current returns
Autocorrelation, which is Nitro Games 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 Nitro Games' stock expected returns. We can calculate the autocorrelation of Nitro Games returns to help us make a trade decision. For example, suppose you find that Nitro Games 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 |
Nitro Games 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 Nitro Games stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nitro Games stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nitro Games stock over time.
Current vs Lagged Prices |
| Timeline |
Nitro Games Lagged Returns
When evaluating Nitro Games' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nitro Games stock have on its future price. Nitro Games 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, Nitro Games autocorrelation shows the relationship between Nitro Games stock current value and its past values and can show if there is a momentum factor associated with investing in Nitro Games Oyj.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Nitro Stock Analysis
When running Nitro Games' price analysis, check to measure Nitro Games' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Nitro Games is operating at the current time. Most of Nitro Games' value examination focuses on studying past and present price action to predict the probability of Nitro Games' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nitro Games' price. Additionally, you may evaluate how the addition of Nitro Games to your portfolios can decrease your overall portfolio volatility.