NewMed Energy's market value is the price at which a share of NewMed Energy trades on a public exchange. It measures the collective expectations of NewMed Energy investors about its performance. NewMed Energy is trading at 1128.00 as of the 30th of November 2024, a 2.71% down since the beginning of the trading day. The stock's open price was 1159.46. With this module, you can estimate the performance of a buy and hold strategy of NewMed Energy and determine expected loss or profit from investing in NewMed Energy over a given investment horizon. Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
NewMed
NewMed Energy '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 NewMed Energy'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 NewMed Energy.
0.00
10/31/2024
No Change 0.00
0.0
In 31 days
11/30/2024
0.00
If you would invest 0.00 in NewMed Energy on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding NewMed Energy or generate 0.0% return on investment in NewMed Energy over 30 days.
NewMed Energy 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 NewMed Energy'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 NewMed Energy upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for NewMed Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NewMed Energy's standard deviation. In reality, there are many statistical measures that can use NewMed Energy historical prices to predict the future NewMed Energy's volatility.
NewMed Energy appears to be very steady, given 3 months investment horizon. NewMed Energy has Sharpe Ratio of 0.19, which conveys that the firm had a 0.19% return per unit of risk over the last 3 months. We have found thirty technical indicators for NewMed Energy, which you can use to evaluate the volatility of the firm. Please exercise NewMed Energy's Risk Adjusted Performance of 0.1186, downside deviation of 1.68, and Mean Deviation of 1.65 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NewMed Energy holds a performance score of 15. The company secures a Beta (Market Risk) of -0.25, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NewMed Energy are expected to decrease at a much lower rate. During the bear market, NewMed Energy is likely to outperform the market. Please check NewMed Energy's value at risk, downside variance, and the relationship between the maximum drawdown and potential upside , to make a quick decision on whether NewMed Energy's current price movements will revert.
Auto-correlation
-0.49
Modest reverse predictability
NewMed Energy has modest reverse predictability. Overlapping area represents the amount of predictability between NewMed Energy time series from 31st of October 2024 to 15th of November 2024 and 15th of November 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 NewMed Energy price movement. The serial correlation of -0.49 indicates that about 49.0% of current NewMed Energy price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.49
Spearman Rank Test
-0.35
Residual Average
0.0
Price Variance
195.31
NewMed Energy lagged returns against current returns
Autocorrelation, which is NewMed Energy 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 NewMed Energy's stock expected returns. We can calculate the autocorrelation of NewMed Energy returns to help us make a trade decision. For example, suppose you find that NewMed Energy 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
NewMed Energy 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 NewMed Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NewMed Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NewMed Energy stock over time.
Current vs Lagged Prices
Timeline
NewMed Energy Lagged Returns
When evaluating NewMed Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NewMed Energy stock have on its future price. NewMed Energy 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, NewMed Energy autocorrelation shows the relationship between NewMed Energy stock current value and its past values and can show if there is a momentum factor associated with investing in NewMed Energy .
Regressed Prices
Timeline
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.