Okea ASA (Norway) Market Value
| OKEA Stock | NOK 19.99 0.09 0.45% |
| Symbol | Okea |
Okea 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 Okea 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 Okea ASA.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Okea ASA on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Okea ASA or generate 0.0% return on investment in Okea ASA over 30 days. Okea ASA is related to or competes with Kraft Bank, Cloudberry Clean, Shelf Drilling, Jaeren Sparebank, Instabank ASA, and Dolphin Drilling. OKEA ASA, an oil and gas company, engages in the development and production of oil and gas in the Norwegian continental ... More
Okea 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 Okea 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 Okea ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 11.0 | |||
| Value At Risk | (3.93) | |||
| Potential Upside | 4.77 |
Okea ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Okea ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Okea ASA's standard deviation. In reality, there are many statistical measures that can use Okea ASA historical prices to predict the future Okea ASA's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | 0.3892 |
Okea ASA Backtested Returns
Okea ASA maintains Sharpe Ratio (i.e., Efficiency) of -0.0347, which implies the firm had a -0.0347% return per unit of risk over the last 3 months. Okea ASA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Okea ASA's Variance of 5.55, coefficient of variation of (2,047), and Risk Adjusted Performance of (0.03) to confirm the risk estimate we provide. The company holds a Beta of -0.32, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Okea ASA are expected to decrease at a much lower rate. During the bear market, Okea ASA is likely to outperform the market. At this point, Okea ASA has a negative expected return of -0.0818%. Please make sure to check Okea ASA's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Okea ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.71 |
Good predictability
Okea ASA has good predictability. Overlapping area represents the amount of predictability between Okea ASA 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 Okea ASA price movement. The serial correlation of 0.71 indicates that around 71.0% of current Okea ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.71 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 0.15 |
Okea ASA lagged returns against current returns
Autocorrelation, which is Okea 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 Okea ASA's stock expected returns. We can calculate the autocorrelation of Okea ASA returns to help us make a trade decision. For example, suppose you find that Okea 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 |
Okea 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 Okea ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Okea ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Okea ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Okea ASA Lagged Returns
When evaluating Okea ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Okea ASA stock have on its future price. Okea 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, Okea ASA autocorrelation shows the relationship between Okea ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Okea ASA.
Regressed Prices |
| Timeline |
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Okea ASA financial ratios help investors to determine whether Okea 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 Okea with respect to the benefits of owning Okea ASA security.