NorAm Drilling (Germany) Market Value
| TM9 Stock | EUR 2.98 0.10 3.25% |
| Symbol | NorAm |
NorAm Drilling '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 NorAm Drilling'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 NorAm Drilling.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in NorAm Drilling on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding NorAm Drilling AS or generate 0.0% return on investment in NorAm Drilling over 30 days. NorAm Drilling is related to or competes with Universal Insurance, Selective Insurance, Japan Post, Nufarm, SBI Insurance, Daito Trust, and Hanison Construction. Tribune Media Company, through its subsidiaries, operates as a diversified media and entertainment company in the United... More
NorAm Drilling 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 NorAm Drilling'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 NorAm Drilling AS upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.6 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 36.5 | |||
| Value At Risk | (6.43) | |||
| Potential Upside | 5.56 |
NorAm Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NorAm Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NorAm Drilling's standard deviation. In reality, there are many statistical measures that can use NorAm Drilling historical prices to predict the future NorAm Drilling's volatility.| Risk Adjusted Performance | 0.0118 | |||
| Jensen Alpha | 0.0756 | |||
| Total Risk Alpha | (0.78) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.02) |
NorAm Drilling AS Backtested Returns
At this point, NorAm Drilling is very risky. NorAm Drilling AS has Sharpe Ratio of 0.0034, which conveys that the firm had a 0.0034% return per unit of risk over the last 3 months. We have found thirty technical indicators for NorAm Drilling, which you can use to evaluate the volatility of the firm. Please verify NorAm Drilling's Downside Deviation of 4.6, risk adjusted performance of 0.0118, and Mean Deviation of 2.78 to check out if the risk estimate we provide is consistent with the expected return of 0.0175%. The company secures a Beta (Market Risk) of -0.53, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning NorAm Drilling are expected to decrease at a much lower rate. During the bear market, NorAm Drilling is likely to outperform the market. NorAm Drilling AS right now secures a risk of 5.1%. Please verify NorAm Drilling AS sortino ratio, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if NorAm Drilling AS will be following its current price movements.
Auto-correlation | -0.06 |
Very weak reverse predictability
NorAm Drilling AS has very weak reverse predictability. Overlapping area represents the amount of predictability between NorAm Drilling time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 NorAm Drilling AS price movement. The serial correlation of -0.06 indicates that barely 6.0% of current NorAm Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
NorAm Drilling AS lagged returns against current returns
Autocorrelation, which is NorAm Drilling 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 NorAm Drilling's stock expected returns. We can calculate the autocorrelation of NorAm Drilling returns to help us make a trade decision. For example, suppose you find that NorAm Drilling 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 |
NorAm Drilling 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 NorAm Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NorAm Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NorAm Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
NorAm Drilling Lagged Returns
When evaluating NorAm Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NorAm Drilling stock have on its future price. NorAm Drilling 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, NorAm Drilling autocorrelation shows the relationship between NorAm Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in NorAm Drilling AS.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in NorAm Stock
NorAm Drilling financial ratios help investors to determine whether NorAm 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 NorAm with respect to the benefits of owning NorAm Drilling security.