Norbit ASA (Norway) Market Value
| NORBT Stock | NOK 96.30 1.10 1.16% |
| Symbol | Norbit |
Norbit ASA '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 Norbit ASA'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 Norbit ASA.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in Norbit ASA on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding Norbit ASA or generate 0.0% return on investment in Norbit ASA over 90 days. Norbit ASA is related to or competes with Lery Seafood, Techstep ASA, Awilco Drilling, Shelf Drilling, Xplora Technologies, Nordic Semiconductor, and Austevoll Seafood. It operates through three segments Oceans, Intelligent Traffic Systems, and Product Innovation Realization More
Norbit ASA 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 Norbit ASA'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 Norbit ASA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.61 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 12.25 | |||
| Value At Risk | (2.22) | |||
| Potential Upside | 3.28 |
Norbit ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Norbit ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Norbit ASA's standard deviation. In reality, there are many statistical measures that can use Norbit ASA historical prices to predict the future Norbit ASA's volatility.| Risk Adjusted Performance | 0.0277 | |||
| Jensen Alpha | 0.0927 | |||
| Total Risk Alpha | (0.28) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | (0.12) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Norbit ASA's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Norbit ASA Backtested Returns
As of now, Norbit Stock is very steady. Norbit ASA has Sharpe Ratio of 0.0594, which conveys that the firm had a 0.0594% return per unit of risk over the last 3 months. We have found thirty technical indicators for Norbit ASA, which you can use to evaluate the volatility of the firm. Please verify Norbit ASA's Mean Deviation of 1.49, risk adjusted performance of 0.0277, and Downside Deviation of 1.61 to check out if the risk estimate we provide is consistent with the expected return of 0.11%. Norbit ASA has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.37, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Norbit ASA are expected to decrease at a much lower rate. During the bear market, Norbit ASA is likely to outperform the market. Norbit ASA right now secures a risk of 1.91%. Please verify Norbit ASA potential upside, as well as the relationship between the kurtosis and day typical price , to decide if Norbit ASA will be following its current price movements.
Auto-correlation | 0.48 |
Average predictability
Norbit ASA has average predictability. Overlapping area represents the amount of predictability between Norbit ASA time series from 2nd of September 2024 to 17th of October 2024 and 17th of October 2024 to 1st 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 Norbit ASA price movement. The serial correlation of 0.48 indicates that about 48.0% of current Norbit ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 4.58 |
Norbit ASA lagged returns against current returns
Autocorrelation, which is Norbit ASA 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 Norbit ASA's stock expected returns. We can calculate the autocorrelation of Norbit ASA returns to help us make a trade decision. For example, suppose you find that Norbit ASA 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 |
Norbit ASA 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 Norbit ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norbit ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Norbit ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Norbit ASA Lagged Returns
When evaluating Norbit ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Norbit ASA stock have on its future price. Norbit ASA 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, Norbit ASA autocorrelation shows the relationship between Norbit ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Norbit ASA.
Regressed Prices |
| Timeline |
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Norbit ASA financial ratios help investors to determine whether Norbit 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 Norbit with respect to the benefits of owning Norbit ASA security.