Solar AS (Denmark) Market Value
| SOLAR-B Stock | DKK 303.00 4.50 1.46% |
| Symbol | Solar |
Solar AS '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 Solar AS'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 Solar AS.
| 05/07/2023 |
| 11/27/2024 |
If you would invest 0.00 in Solar AS on May 7, 2023 and sell it all today you would earn a total of 0.00 from holding Solar AS or generate 0.0% return on investment in Solar AS over 570 days. Solar AS is related to or competes with Matas AS, NKT AS, ROCKWOOL International, and Dampskibsselskabet. Solar AS operates as a sourcing and services company in electrical, heating and plumbing, ventilation, and climate and e... More
Solar AS 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 Solar AS'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 Solar AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 7.36 | |||
| Value At Risk | (2.41) | |||
| Potential Upside | 2.5 |
Solar AS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Solar AS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Solar AS's standard deviation. In reality, there are many statistical measures that can use Solar AS historical prices to predict the future Solar AS's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (0.52) |
Solar AS Backtested Returns
Solar AS owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0858, which indicates the firm had a -0.0858% return per unit of risk over the last 3 months. Solar AS exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Solar AS's Coefficient Of Variation of (1,326), risk adjusted performance of (0.05), and Variance of 2.52 to confirm the risk estimate we provide. The entity has a beta of 0.25, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Solar AS's returns are expected to increase less than the market. However, during the bear market, the loss of holding Solar AS is expected to be smaller as well. At this point, Solar AS has a negative expected return of -0.14%. Please make sure to validate Solar AS's total risk alpha, skewness, as well as the relationship between the Skewness and day median price , to decide if Solar AS performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.34 |
Below average predictability
Solar AS has below average predictability. Overlapping area represents the amount of predictability between Solar AS time series from 7th of May 2023 to 16th of February 2024 and 16th of February 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 Solar AS price movement. The serial correlation of 0.34 indicates that nearly 34.0% of current Solar AS price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.34 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 252.43 |
Solar AS lagged returns against current returns
Autocorrelation, which is Solar AS 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 Solar AS's stock expected returns. We can calculate the autocorrelation of Solar AS returns to help us make a trade decision. For example, suppose you find that Solar AS 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 |
Solar AS 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 Solar AS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Solar AS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Solar AS stock over time.
Current vs Lagged Prices |
| Timeline |
Solar AS Lagged Returns
When evaluating Solar AS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Solar AS stock have on its future price. Solar AS 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, Solar AS autocorrelation shows the relationship between Solar AS stock current value and its past values and can show if there is a momentum factor associated with investing in Solar AS.
Regressed Prices |
| Timeline |
Pair Trading with Solar AS
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Solar AS position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Solar AS will appreciate offsetting losses from the drop in the long position's value.Moving together with Solar Stock
The ability to find closely correlated positions to Solar AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Solar AS when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Solar AS - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Solar AS to buy it.
The correlation of Solar AS is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Solar AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Solar AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Solar AS can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Solar Stock
Solar AS financial ratios help investors to determine whether Solar 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 Solar with respect to the benefits of owning Solar AS security.