Norva24 Group (Sweden) Market Value
| NORVA Stock | 27.20 0.05 0.18% |
| Symbol | Norva24 |
Norva24 Group '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 Norva24 Group'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 Norva24 Group.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Norva24 Group on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Norva24 Group AB or generate 0.0% return on investment in Norva24 Group over 720 days. Norva24 Group is related to or competes with Minesto AB, Sivers IMA, SolTech Energy, and AAC Clyde. More
Norva24 Group 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 Norva24 Group'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 Norva24 Group AB upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 9.96 | |||
| Value At Risk | (3.44) | |||
| Potential Upside | 3.13 |
Norva24 Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Norva24 Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Norva24 Group's standard deviation. In reality, there are many statistical measures that can use Norva24 Group historical prices to predict the future Norva24 Group's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | (0.20) |
Norva24 Group AB Backtested Returns
Norva24 Group AB has Sharpe Ratio of -0.0896, which conveys that the firm had a -0.0896% return per unit of risk over the last 3 months. Norva24 Group exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Norva24 Group's Standard Deviation of 2.02, mean deviation of 1.49, and Risk Adjusted Performance of (0.05) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.77, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Norva24 Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding Norva24 Group is expected to be smaller as well. At this point, Norva24 Group AB has a negative expected return of -0.18%. Please make sure to verify Norva24 Group's kurtosis, as well as the relationship between the day median price and relative strength index , to decide if Norva24 Group AB performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.74 |
Almost perfect reverse predictability
Norva24 Group AB has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Norva24 Group time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 to 26th 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 Norva24 Group AB price movement. The serial correlation of -0.74 indicates that around 74.0% of current Norva24 Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.74 | |
| Spearman Rank Test | -0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 6.19 |
Norva24 Group AB lagged returns against current returns
Autocorrelation, which is Norva24 Group 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 Norva24 Group's stock expected returns. We can calculate the autocorrelation of Norva24 Group returns to help us make a trade decision. For example, suppose you find that Norva24 Group 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 |
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Norva24 Group 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 Norva24 Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norva24 Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Norva24 Group stock over time.
Current vs Lagged Prices |
| Timeline |
Norva24 Group Lagged Returns
When evaluating Norva24 Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Norva24 Group stock have on its future price. Norva24 Group 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, Norva24 Group autocorrelation shows the relationship between Norva24 Group stock current value and its past values and can show if there is a momentum factor associated with investing in Norva24 Group AB.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Norva24 Stock Analysis
When running Norva24 Group's price analysis, check to measure Norva24 Group's 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 Norva24 Group is operating at the current time. Most of Norva24 Group's value examination focuses on studying past and present price action to predict the probability of Norva24 Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Norva24 Group's price. Additionally, you may evaluate how the addition of Norva24 Group to your portfolios can decrease your overall portfolio volatility.