Unity Software (Brazil) Market Value
| U2ST34 Stock | BRL 7.18 0.19 2.72% |
| Symbol | Unity |
Unity Software '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 Unity Software'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 Unity Software.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Unity Software on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Unity Software or generate 0.0% return on investment in Unity Software over 30 days. Unity Software is related to or competes with Uber Technologies, Trade Desk, and Zoom Video. Unity Software Inc. operates a real-time 3D development platform More
Unity Software 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 Unity Software'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 Unity Software upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.49 | |||
| Information Ratio | 0.1402 | |||
| Maximum Drawdown | 18.61 | |||
| Value At Risk | (5.55) | |||
| Potential Upside | 8.32 |
Unity Software Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Unity Software's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Unity Software's standard deviation. In reality, there are many statistical measures that can use Unity Software historical prices to predict the future Unity Software's volatility.| Risk Adjusted Performance | 0.1382 | |||
| Jensen Alpha | 0.7255 | |||
| Total Risk Alpha | 0.0711 | |||
| Sortino Ratio | 0.1708 | |||
| Treynor Ratio | (5.66) |
Unity Software Backtested Returns
Unity Software appears to be moderately volatile, given 3 months investment horizon. Unity Software owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.18, which indicates the firm had a 0.18% return per unit of risk over the last 3 months. By inspecting Unity Software's technical indicators, you can evaluate if the expected return of 0.78% is justified by implied risk. Please review Unity Software's Semi Deviation of 3.0, coefficient of variation of 589.42, and Risk Adjusted Performance of 0.1382 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Unity Software holds a performance score of 14. The entity has a beta of -0.13, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Unity Software are expected to decrease at a much lower rate. During the bear market, Unity Software is likely to outperform the market. Please check Unity Software's jensen alpha, maximum drawdown, semi variance, as well as the relationship between the sortino ratio and potential upside , to make a quick decision on whether Unity Software's existing price patterns will revert.
Auto-correlation | 0.29 |
Poor predictability
Unity Software has poor predictability. Overlapping area represents the amount of predictability between Unity Software time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Unity Software price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Unity Software price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 0.5 |
Unity Software lagged returns against current returns
Autocorrelation, which is Unity Software 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 Unity Software's stock expected returns. We can calculate the autocorrelation of Unity Software returns to help us make a trade decision. For example, suppose you find that Unity Software 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 |
Unity Software 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 Unity Software stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Unity Software stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Unity Software stock over time.
Current vs Lagged Prices |
| Timeline |
Unity Software Lagged Returns
When evaluating Unity Software's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Unity Software stock have on its future price. Unity Software 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, Unity Software autocorrelation shows the relationship between Unity Software stock current value and its past values and can show if there is a momentum factor associated with investing in Unity Software.
Regressed Prices |
| Timeline |
Also Currently Popular
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 Information and Resources on Investing in Unity Stock
When determining whether Unity Software is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Unity Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Unity Software Stock. Highlighted below are key reports to facilitate an investment decision about Unity Software Stock:Check out Unity Software Correlation, Unity Software Volatility and Unity Software Alpha and Beta module to complement your research on Unity Software. For information on how to trade Unity Stock refer to our How to Trade Unity Stock guide.You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Unity Software technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.