Odfjell Drilling (Norway) Market Value
| ODL Stock | NOK 50.60 0.50 0.98% |
| Symbol | Odfjell |
Odfjell Drilling '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 Odfjell Drilling'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 Odfjell Drilling.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Odfjell Drilling on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Odfjell Drilling or generate 0.0% return on investment in Odfjell Drilling over 30 days. Odfjell Drilling is related to or competes with Shelf Drilling, BW Offshore, Elkem ASA, Solstad Offsho, Arcticzymes Technologies, Sparebank, and Golden Energy. Odfjell Drilling Ltd. operates as an integrated offshore drilling, well service, and engineering company worldwide More
Odfjell Drilling 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 Odfjell Drilling'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 Odfjell Drilling upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 9.31 | |||
| Value At Risk | (3.90) | |||
| Potential Upside | 2.84 |
Odfjell Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Odfjell Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Odfjell Drilling's standard deviation. In reality, there are many statistical measures that can use Odfjell Drilling historical prices to predict the future Odfjell Drilling's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.37) | |||
| Treynor Ratio | (0.15) |
Odfjell Drilling Backtested Returns
Odfjell Drilling maintains Sharpe Ratio (i.e., Efficiency) of -0.0552, which implies the firm had a -0.0552% return per unit of risk over the last 3 months. Odfjell Drilling exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Odfjell Drilling's Risk Adjusted Performance of (0.03), coefficient of variation of (2,430), and Variance of 4.33 to confirm the risk estimate we provide. The company holds a Beta of 0.62, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Odfjell Drilling's returns are expected to increase less than the market. However, during the bear market, the loss of holding Odfjell Drilling is expected to be smaller as well. At this point, Odfjell Drilling has a negative expected return of -0.12%. Please make sure to check Odfjell Drilling's total risk alpha, kurtosis, price action indicator, as well as the relationship between the value at risk and rate of daily change , to decide if Odfjell Drilling performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.36 |
Poor reverse predictability
Odfjell Drilling has poor reverse predictability. Overlapping area represents the amount of predictability between Odfjell Drilling time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Odfjell Drilling price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Odfjell Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.34 |
Odfjell Drilling lagged returns against current returns
Autocorrelation, which is Odfjell Drilling 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 Odfjell Drilling's stock expected returns. We can calculate the autocorrelation of Odfjell Drilling returns to help us make a trade decision. For example, suppose you find that Odfjell Drilling 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 |
Odfjell Drilling 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 Odfjell Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Odfjell Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Odfjell Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
Odfjell Drilling Lagged Returns
When evaluating Odfjell Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Odfjell Drilling stock have on its future price. Odfjell Drilling 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, Odfjell Drilling autocorrelation shows the relationship between Odfjell Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in Odfjell Drilling.
Regressed Prices |
| Timeline |
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Odfjell Drilling financial ratios help investors to determine whether Odfjell 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 Odfjell with respect to the benefits of owning Odfjell Drilling security.