NorAm Drilling (Germany) Market Value
| TM9 Stock | 2.98 0.07 2.30% |
| Symbol | NorAm |
Please note, there is a significant difference between NorAm Drilling's value and its price as these two are different measures arrived at by different means. Investors typically determine if NorAm Drilling is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NorAm Drilling's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
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.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in NorAm Drilling on August 29, 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 90 days. NorAm Drilling is related to or competes with Apple, Apple, Apple, Apple, Apple, Microsoft, and Microsoft. 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 | 2.1 | |||
| Information Ratio | 0.1393 | |||
| Maximum Drawdown | 22.51 | |||
| Value At Risk | (2.87) | |||
| Potential Upside | 4.64 |
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 | 0.1397 | |||
| Jensen Alpha | 0.7287 | |||
| Total Risk Alpha | 0.0564 | |||
| Sortino Ratio | 0.2586 | |||
| Treynor Ratio | (1.19) |
NorAm Drilling AS Backtested Returns
NorAm Drilling appears to be risky, given 3 months investment horizon. NorAm Drilling AS has Sharpe Ratio of 0.17, which conveys that the firm had a 0.17% return per unit of risk over the last 3 months. By analyzing NorAm Drilling's technical indicators, you can evaluate if the expected return of 0.69% is justified by implied risk. Please exercise NorAm Drilling's Mean Deviation of 1.92, risk adjusted performance of 0.1397, and Downside Deviation of 2.1 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NorAm Drilling holds a performance score of 13. The company secures a Beta (Market Risk) of -0.56, 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. Please check NorAm Drilling's downside variance, kurtosis, and the relationship between the value at risk and expected short fall , to make a quick decision on whether NorAm Drilling's current price movements will revert.
Auto-correlation | 0.48 |
Average predictability
NorAm Drilling AS has average predictability. Overlapping area represents the amount of predictability between NorAm Drilling time series from 29th of August 2024 to 13th of October 2024 and 13th of October 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 NorAm Drilling AS price movement. The serial correlation of 0.48 indicates that about 48.0% of current NorAm Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
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 |
Thematic Opportunities
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Additional Tools for NorAm Stock Analysis
When running NorAm Drilling's price analysis, check to measure NorAm Drilling'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 NorAm Drilling is operating at the current time. Most of NorAm Drilling's value examination focuses on studying past and present price action to predict the probability of NorAm Drilling's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NorAm Drilling's price. Additionally, you may evaluate how the addition of NorAm Drilling to your portfolios can decrease your overall portfolio volatility.