Renergen (South Africa) Market Value
| REN Stock | 865.00 34.00 3.78% |
| Symbol | Renergen |
Renergen '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 Renergen'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 Renergen.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Renergen on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Renergen or generate 0.0% return on investment in Renergen over 180 days. Renergen is related to or competes with Growthpoint Properties, Shoprite Holdings, and Dis Chem. More
Renergen 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 Renergen'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 Renergen upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 13.59 | |||
| Value At Risk | (4.80) | |||
| Potential Upside | 3.63 |
Renergen Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Renergen's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Renergen's standard deviation. In reality, there are many statistical measures that can use Renergen historical prices to predict the future Renergen's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (0.74) | |||
| Treynor Ratio | (26.19) |
Renergen Backtested Returns
Renergen maintains Sharpe Ratio (i.e., Efficiency) of -0.15, which implies the firm had a -0.15% return per unit of risk over the last 3 months. Renergen exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Renergen's Coefficient Of Variation of (818.05), risk adjusted performance of (0.09), and Variance of 7.2 to confirm the risk estimate we provide. The company holds a Beta of 0.0129, which implies not very significant fluctuations relative to the market. As returns on the market increase, Renergen's returns are expected to increase less than the market. However, during the bear market, the loss of holding Renergen is expected to be smaller as well. At this point, Renergen has a negative expected return of -0.38%. Please make sure to check Renergen's accumulation distribution, day typical price, and the relationship between the skewness and rate of daily change , to decide if Renergen performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.48 |
Modest reverse predictability
Renergen has modest reverse predictability. Overlapping area represents the amount of predictability between Renergen time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th 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 Renergen price movement. The serial correlation of -0.48 indicates that about 48.0% of current Renergen price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 7664.42 |
Renergen lagged returns against current returns
Autocorrelation, which is Renergen 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 Renergen's stock expected returns. We can calculate the autocorrelation of Renergen returns to help us make a trade decision. For example, suppose you find that Renergen 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 |
Renergen 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 Renergen stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Renergen stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Renergen stock over time.
Current vs Lagged Prices |
| Timeline |
Renergen Lagged Returns
When evaluating Renergen's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Renergen stock have on its future price. Renergen 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, Renergen autocorrelation shows the relationship between Renergen stock current value and its past values and can show if there is a momentum factor associated with investing in Renergen.
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.Other Information on Investing in Renergen Stock
Renergen financial ratios help investors to determine whether Renergen 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 Renergen with respect to the benefits of owning Renergen security.