Norsk Hydro (Germany) Market Value
| NOHA Stock | EUR 6.05 0.05 0.83% |
| Symbol | Norsk |
Norsk Hydro '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 Norsk Hydro'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 Norsk Hydro.
| 09/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Norsk Hydro on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding Norsk Hydro ASA or generate 0.0% return on investment in Norsk Hydro over 60 days. Norsk Hydro is related to or competes with Superior Plus, NMI Holdings, SIVERS SEMICONDUCTORS, Talanx AG, 2G ENERGY, Identiv, and INTUITIVE SURGICAL. Norsk Hydro ASA operates as an integrated aluminum company worldwide More
Norsk Hydro 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 Norsk Hydro'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 Norsk Hydro ASA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.83 | |||
| Information Ratio | 0.0702 | |||
| Maximum Drawdown | 12.26 | |||
| Value At Risk | (4.46) | |||
| Potential Upside | 7.0 |
Norsk Hydro Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Norsk Hydro's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Norsk Hydro's standard deviation. In reality, there are many statistical measures that can use Norsk Hydro historical prices to predict the future Norsk Hydro's volatility.| Risk Adjusted Performance | 0.0934 | |||
| Jensen Alpha | 0.2822 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0768 | |||
| Treynor Ratio | 0.7282 |
Norsk Hydro ASA Backtested Returns
Norsk Hydro appears to be slightly risky, given 3 months investment horizon. Norsk Hydro ASA has Sharpe Ratio of 0.12, which conveys that the firm had a 0.12% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Norsk Hydro, which you can use to evaluate the volatility of the firm. Please exercise Norsk Hydro's Mean Deviation of 2.28, risk adjusted performance of 0.0934, and Downside Deviation of 2.83 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Norsk Hydro holds a performance score of 9. The company secures a Beta (Market Risk) of 0.46, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Norsk Hydro's returns are expected to increase less than the market. However, during the bear market, the loss of holding Norsk Hydro is expected to be smaller as well. Please check Norsk Hydro's sortino ratio, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to make a quick decision on whether Norsk Hydro's current price movements will revert.
Auto-correlation | -0.07 |
Very weak reverse predictability
Norsk Hydro ASA has very weak reverse predictability. Overlapping area represents the amount of predictability between Norsk Hydro time series from 28th of September 2024 to 28th of October 2024 and 28th of October 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 Norsk Hydro ASA price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Norsk Hydro price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Norsk Hydro ASA lagged returns against current returns
Autocorrelation, which is Norsk Hydro 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 Norsk Hydro's stock expected returns. We can calculate the autocorrelation of Norsk Hydro returns to help us make a trade decision. For example, suppose you find that Norsk Hydro 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 |
Norsk Hydro 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 Norsk Hydro stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norsk Hydro stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Norsk Hydro stock over time.
Current vs Lagged Prices |
| Timeline |
Norsk Hydro Lagged Returns
When evaluating Norsk Hydro's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Norsk Hydro stock have on its future price. Norsk Hydro 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, Norsk Hydro autocorrelation shows the relationship between Norsk Hydro stock current value and its past values and can show if there is a momentum factor associated with investing in Norsk Hydro ASA.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Norsk Stock
Norsk Hydro financial ratios help investors to determine whether Norsk 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 Norsk with respect to the benefits of owning Norsk Hydro security.