Nokian Renkaat Oyj Stock Market Value
| NKRKF Stock | USD 8.00 0.00 0.00% |
| Symbol | Nokian |
Nokian Renkaat '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 Nokian Renkaat's pink sheet 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 Nokian Renkaat.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in Nokian Renkaat on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding Nokian Renkaat Oyj or generate 0.0% return on investment in Nokian Renkaat over 360 days. Nokian Renkaat is related to or competes with Luminar Technologies, Mobileye Global, Hyliion Holdings, Aeva Technologies, Innoviz Technologies, and Quantumscape Corp. Nokian Renkaat Oyj develops and manufactures tires in Finland, Nordics, Russia, the rest of Europe, Asia, the Americas, ... More
Nokian Renkaat 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 Nokian Renkaat's pink sheet 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 Nokian Renkaat Oyj upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 29.45 | |||
| Potential Upside | 0.4469 |
Nokian Renkaat Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nokian Renkaat's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nokian Renkaat's standard deviation. In reality, there are many statistical measures that can use Nokian Renkaat historical prices to predict the future Nokian Renkaat's volatility.| Risk Adjusted Performance | 0.0104 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | 0.0201 |
Nokian Renkaat Oyj Backtested Returns
At this point, Nokian Renkaat is somewhat reliable. Nokian Renkaat Oyj has Sharpe Ratio of 0.0043, which conveys that the firm had a 0.0043% return per unit of risk over the last 3 months. We have found seventeen technical indicators for Nokian Renkaat, which you can use to evaluate the volatility of the firm. Please verify Nokian Renkaat's Standard Deviation of 2.7, mean deviation of 0.6038, and Risk Adjusted Performance of 0.0104 to check out if the risk estimate we provide is consistent with the expected return of 0.0119%. The company secures a Beta (Market Risk) of 0.0758, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nokian Renkaat's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nokian Renkaat is expected to be smaller as well. Nokian Renkaat Oyj right now secures a risk of 2.74%. Please verify Nokian Renkaat Oyj variance, potential upside, as well as the relationship between the Potential Upside and day median price , to decide if Nokian Renkaat Oyj will be following its current price movements.
Auto-correlation | -0.37 |
Poor reverse predictability
Nokian Renkaat Oyj has poor reverse predictability. Overlapping area represents the amount of predictability between Nokian Renkaat time series from 8th of December 2023 to 5th of June 2024 and 5th 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 Nokian Renkaat Oyj price movement. The serial correlation of -0.37 indicates that just about 37.0% of current Nokian Renkaat price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.37 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Nokian Renkaat Oyj lagged returns against current returns
Autocorrelation, which is Nokian Renkaat pink sheet'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 Nokian Renkaat's pink sheet expected returns. We can calculate the autocorrelation of Nokian Renkaat returns to help us make a trade decision. For example, suppose you find that Nokian Renkaat has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Nokian Renkaat 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 Nokian Renkaat pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nokian Renkaat pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nokian Renkaat pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Nokian Renkaat Lagged Returns
When evaluating Nokian Renkaat's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nokian Renkaat pink sheet have on its future price. Nokian Renkaat 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, Nokian Renkaat autocorrelation shows the relationship between Nokian Renkaat pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Nokian Renkaat Oyj.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Nokian Pink Sheet
Nokian Renkaat financial ratios help investors to determine whether Nokian Pink Sheet 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 Nokian with respect to the benefits of owning Nokian Renkaat security.