Stenocare (Denmark) Market Value
| STENO Stock | DKK 1.98 0.14 6.60% |
| Symbol | Stenocare |
Stenocare '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 Stenocare'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 Stenocare.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Stenocare on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Stenocare AS or generate 0.0% return on investment in Stenocare over 90 days. Stenocare is related to or competes with Bavarian Nordic, LUXOR-B, CBrain AS, Fast Ejendom, PF Atlantic, HusCompagniet, and Gabriel Holding. Stenocare AS cultivates, produces, imports, sells, and distributes prescription-based medical cannabis products in the D... More
Stenocare 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 Stenocare'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 Stenocare AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 62.7 | |||
| Value At Risk | (10.26) | |||
| Potential Upside | 8.06 |
Stenocare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Stenocare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Stenocare's standard deviation. In reality, there are many statistical measures that can use Stenocare historical prices to predict the future Stenocare's volatility.| Risk Adjusted Performance | 0.0029 | |||
| Jensen Alpha | 0.1387 | |||
| Total Risk Alpha | (1.44) | |||
| Treynor Ratio | 0.0439 |
Stenocare AS Backtested Returns
At this point, Stenocare is extremely dangerous. Stenocare AS owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0015, which indicates the firm had a 0.0015% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Stenocare AS, which you can use to evaluate the volatility of the company. Please validate Stenocare's Coefficient Of Variation of (12,219), risk adjusted performance of 0.0029, and Variance of 76.57 to confirm if the risk estimate we provide is consistent with the expected return of 0.013%. The entity has a beta of -1.86, which indicates a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Stenocare are expected to decrease by larger amounts. On the other hand, during market turmoil, Stenocare is expected to outperform it. Stenocare AS right now has a risk of 8.76%. Please validate Stenocare treynor ratio, as well as the relationship between the accumulation distribution and price action indicator , to decide if Stenocare will be following its existing price patterns.
Auto-correlation | -0.11 |
Insignificant reverse predictability
Stenocare AS has insignificant reverse predictability. Overlapping area represents the amount of predictability between Stenocare time series from 28th of August 2024 to 12th of October 2024 and 12th of October 2024 to 26th 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 Stenocare AS price movement. The serial correlation of -0.11 indicates that less than 11.0% of current Stenocare price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.11 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Stenocare AS lagged returns against current returns
Autocorrelation, which is Stenocare 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 Stenocare's stock expected returns. We can calculate the autocorrelation of Stenocare returns to help us make a trade decision. For example, suppose you find that Stenocare 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 |
Stenocare 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 Stenocare stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Stenocare stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Stenocare stock over time.
Current vs Lagged Prices |
| Timeline |
Stenocare Lagged Returns
When evaluating Stenocare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Stenocare stock have on its future price. Stenocare 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, Stenocare autocorrelation shows the relationship between Stenocare stock current value and its past values and can show if there is a momentum factor associated with investing in Stenocare AS.
Regressed Prices |
| Timeline |
Pair Trading with Stenocare
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 Stenocare 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 Stenocare will appreciate offsetting losses from the drop in the long position's value.Moving together with Stenocare Stock
Moving against Stenocare Stock
The ability to find closely correlated positions to Stenocare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Stenocare 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 Stenocare - 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 Stenocare AS to buy it.
The correlation of Stenocare 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 Stenocare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stenocare 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 Stenocare 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 Stenocare Stock
Stenocare financial ratios help investors to determine whether Stenocare 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 Stenocare with respect to the benefits of owning Stenocare security.