Nokian Renkaat (Germany) Market Value
| NRE Stock | EUR 7.33 0.07 0.95% |
| 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 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 Nokian Renkaat.
| 02/09/2023 |
| 11/30/2024 |
If you would invest 0.00 in Nokian Renkaat on February 9, 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 660 days. Nokian Renkaat is related to or competes with Bridgestone, Goodyear Tire, Sumitomo Rubber, and Zeon. Nokian Renkaat Oyj develops and manufactures tires in Finland, Sweden, Norway, Russia, the rest of Europe, North America... 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 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 Nokian Renkaat Oyj upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 8.15 | |||
| Value At Risk | (2.52) | |||
| Potential Upside | 2.66 |
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 | (0.08) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | 0.8281 |
Nokian Renkaat Oyj Backtested Returns
Nokian Renkaat Oyj 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. Nokian Renkaat exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nokian Renkaat's Standard Deviation of 1.6, mean deviation of 1.25, and Risk Adjusted Performance of (0.08) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.24, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nokian Renkaat are expected to decrease at a much lower rate. During the bear market, Nokian Renkaat is likely to outperform the market. At this point, Nokian Renkaat Oyj has a negative expected return of -0.19%. Please make sure to verify Nokian Renkaat's total risk alpha, skewness, day median price, as well as the relationship between the maximum drawdown and daily balance of power , to decide if Nokian Renkaat Oyj performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Nokian Renkaat Oyj has insignificant reverse predictability. Overlapping area represents the amount of predictability between Nokian Renkaat time series from 9th of February 2023 to 5th of January 2024 and 5th of January 2024 to 30th 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 Nokian Renkaat Oyj price movement. The serial correlation of -0.19 indicates that over 19.0% of current Nokian Renkaat price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Nokian Renkaat Oyj lagged returns against current returns
Autocorrelation, which is Nokian Renkaat 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 Nokian Renkaat's stock 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 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 |
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 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nokian Renkaat stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nokian Renkaat stock 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 stock 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 stock 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 Stock
Nokian Renkaat financial ratios help investors to determine whether Nokian 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 Nokian with respect to the benefits of owning Nokian Renkaat security.