Polight ASA (Norway) Market Value
| PLT Stock | 4.03 0.09 2.28% |
| Symbol | Polight |
Polight 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 Polight 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 Polight ASA.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Polight ASA on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Polight ASA or generate 0.0% return on investment in Polight ASA over 30 days. Polight ASA is related to or competes with Elliptic Laboratories, Kongsberg Automotive, and REC Silicon. More
Polight 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 Polight 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 Polight ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 20.05 | |||
| Value At Risk | (6.75) | |||
| Potential Upside | 5.69 |
Polight ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Polight ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Polight ASA's standard deviation. In reality, there are many statistical measures that can use Polight ASA historical prices to predict the future Polight ASA's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.39) | |||
| Total Risk Alpha | (0.92) | |||
| Treynor Ratio | (0.22) |
Polight ASA Backtested Returns
Polight ASA maintains Sharpe Ratio (i.e., Efficiency) of -0.0187, which implies the firm had a -0.0187% return per unit of risk over the last 3 months. Polight ASA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Polight ASA's Variance of 18.07, risk adjusted performance of (0.04), and Coefficient Of Variation of (1,763) to confirm the risk estimate we provide. The company holds a Beta of 1.17, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Polight ASA will likely underperform. At this point, Polight ASA has a negative expected return of -0.0787%. Please make sure to check Polight ASA's kurtosis, and the relationship between the value at risk and rate of daily change , to decide if Polight ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
Polight ASA has weak predictability. Overlapping area represents the amount of predictability between Polight ASA time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Polight ASA price movement. The serial correlation of 0.2 indicates that over 20.0% of current Polight ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Polight ASA lagged returns against current returns
Autocorrelation, which is Polight 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 Polight ASA's stock expected returns. We can calculate the autocorrelation of Polight ASA returns to help us make a trade decision. For example, suppose you find that Polight 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 |
Polight 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 Polight ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Polight ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Polight ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Polight ASA Lagged Returns
When evaluating Polight ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Polight ASA stock have on its future price. Polight 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, Polight ASA autocorrelation shows the relationship between Polight ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Polight ASA.
Regressed Prices |
| Timeline |
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Polight ASA financial ratios help investors to determine whether Polight 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 Polight with respect to the benefits of owning Polight ASA security.