Nnit AS (Denmark) Market Value
| NNIT Stock | DKK 91.00 0.30 0.33% |
| Symbol | Nnit |
Nnit AS '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 Nnit AS'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 Nnit AS.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Nnit AS on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Nnit AS or generate 0.0% return on investment in Nnit AS over 30 days. Nnit AS is related to or competes with Zealand Pharma, Ambu AS, BioPorto, Bavarian Nordic, and Genmab AS. NNIT AS provides a range of IT services and solutions to customers primarily in the life sciences sector in Denmark and ... More
Nnit AS 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 Nnit AS'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 Nnit AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 24.12 | |||
| Value At Risk | (3.37) | |||
| Potential Upside | 4.74 |
Nnit AS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nnit AS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nnit AS's standard deviation. In reality, there are many statistical measures that can use Nnit AS historical prices to predict the future Nnit AS's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.64) | |||
| Treynor Ratio | (0.19) |
Nnit AS Backtested Returns
Nnit AS has Sharpe Ratio of -0.0414, which conveys that the firm had a -0.0414% return per unit of risk over the last 3 months. Nnit AS exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nnit AS's Mean Deviation of 1.95, risk adjusted performance of (0.03), and Standard Deviation of 3.08 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.83, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Nnit AS's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nnit AS is expected to be smaller as well. At this point, Nnit AS has a negative expected return of -0.13%. Please make sure to verify Nnit AS's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Nnit AS performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.87 |
Very good predictability
Nnit AS has very good predictability. Overlapping area represents the amount of predictability between Nnit AS time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 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 Nnit AS price movement. The serial correlation of 0.87 indicates that approximately 87.0% of current Nnit AS price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.87 | |
| Spearman Rank Test | 0.9 | |
| Residual Average | 0.0 | |
| Price Variance | 10.63 |
Nnit AS lagged returns against current returns
Autocorrelation, which is Nnit AS 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 Nnit AS's stock expected returns. We can calculate the autocorrelation of Nnit AS returns to help us make a trade decision. For example, suppose you find that Nnit AS 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 |
Nnit AS 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 Nnit AS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nnit AS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nnit AS stock over time.
Current vs Lagged Prices |
| Timeline |
Nnit AS Lagged Returns
When evaluating Nnit AS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nnit AS stock have on its future price. Nnit AS 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, Nnit AS autocorrelation shows the relationship between Nnit AS stock current value and its past values and can show if there is a momentum factor associated with investing in Nnit AS.
Regressed Prices |
| Timeline |
Pair Trading with Nnit AS
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 Nnit AS 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 Nnit AS will appreciate offsetting losses from the drop in the long position's value.Moving against Nnit Stock
The ability to find closely correlated positions to Nnit AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nnit AS 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 Nnit AS - 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 Nnit AS to buy it.
The correlation of Nnit AS 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 Nnit AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nnit AS 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 Nnit AS 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 Nnit Stock
Nnit AS financial ratios help investors to determine whether Nnit 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 Nnit with respect to the benefits of owning Nnit AS security.