Renova Energia (Brazil) Market Value
| RNEW3 Stock | BRL 0.95 0.04 4.40% |
| Symbol | Renova |
Renova Energia '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 Renova Energia'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 Renova Energia.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in Renova Energia on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding Renova Energia SA or generate 0.0% return on investment in Renova Energia over 90 days. Renova Energia is related to or competes with CM Hospitalar, G2D Investments, Delta Air, UnitedHealth Group, Monster Beverage, and Prudential Financial. Renova Energia S.A. develops, implements, and operates projects for the generation of energy from renewable sources in B... More
Renova Energia 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 Renova Energia'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 Renova Energia SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 20.12 | |||
| Value At Risk | (5.21) | |||
| Potential Upside | 5.5 |
Renova Energia Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Renova Energia's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Renova Energia's standard deviation. In reality, there are many statistical measures that can use Renova Energia historical prices to predict the future Renova Energia's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.74) | |||
| Treynor Ratio | (0.21) |
Renova Energia SA Backtested Returns
Renova Energia SA maintains Sharpe Ratio (i.e., Efficiency) of -0.0015, which implies the firm had a -0.0015% return per unit of risk over the last 3 months. Renova Energia SA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Renova Energia's Risk Adjusted Performance of (0.03), variance of 11.74, and Coefficient Of Variation of (1,822) to confirm the risk estimate we provide. The company holds a Beta of 0.96, which implies possible diversification benefits within a given portfolio. Renova Energia returns are very sensitive to returns on the market. As the market goes up or down, Renova Energia is expected to follow. At this point, Renova Energia SA has a negative expected return of -0.0051%. Please make sure to check Renova Energia's accumulation distribution, day typical price, and the relationship between the skewness and rate of daily change , to decide if Renova Energia SA performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.69 |
Very good reverse predictability
Renova Energia SA has very good reverse predictability. Overlapping area represents the amount of predictability between Renova Energia time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th of December 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 Renova Energia SA price movement. The serial correlation of -0.69 indicates that around 69.0% of current Renova Energia price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Renova Energia SA lagged returns against current returns
Autocorrelation, which is Renova Energia 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 Renova Energia's stock expected returns. We can calculate the autocorrelation of Renova Energia returns to help us make a trade decision. For example, suppose you find that Renova Energia 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 |
Renova Energia 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 Renova Energia stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Renova Energia stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Renova Energia stock over time.
Current vs Lagged Prices |
| Timeline |
Renova Energia Lagged Returns
When evaluating Renova Energia's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Renova Energia stock have on its future price. Renova Energia 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, Renova Energia autocorrelation shows the relationship between Renova Energia stock current value and its past values and can show if there is a momentum factor associated with investing in Renova Energia SA.
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.Additional Tools for Renova Stock Analysis
When running Renova Energia's price analysis, check to measure Renova Energia's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Renova Energia is operating at the current time. Most of Renova Energia's value examination focuses on studying past and present price action to predict the probability of Renova Energia's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Renova Energia's price. Additionally, you may evaluate how the addition of Renova Energia to your portfolios can decrease your overall portfolio volatility.