UNITY BANK (Nigeria) Market Value
| UNITYBNK | 1.51 0.00 0.00% |
| Symbol | UNITY |
UNITY BANK '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 BANK'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 BANK.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in UNITY BANK on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding UNITY BANK PLC or generate 0.0% return on investment in UNITY BANK over 30 days.
UNITY BANK 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 BANK'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 BANK PLC upside and downside potential and time the market with a certain degree of confidence.
UNITY BANK Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for UNITY BANK's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as UNITY BANK's standard deviation. In reality, there are many statistical measures that can use UNITY BANK historical prices to predict the future UNITY BANK's volatility.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of UNITY BANK's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
UNITY BANK PLC Backtested Returns
We have found three technical indicators for UNITY BANK PLC, which you can use to evaluate the volatility of the company. The entity has a beta of 0.0, which indicates not very significant fluctuations relative to the market. the returns on MARKET and UNITY BANK are completely uncorrelated.
Auto-correlation | 1.00 |
Perfect predictability
UNITY BANK PLC has perfect predictability. Overlapping area represents the amount of predictability between UNITY BANK 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 UNITY BANK PLC price movement. The serial correlation of 1.0 indicates that 100.0% of current UNITY BANK price fluctuation can be explain by its past prices.
| Correlation Coefficient | 1.0 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
UNITY BANK PLC lagged returns against current returns
Autocorrelation, which is UNITY BANK 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 BANK's stock expected returns. We can calculate the autocorrelation of UNITY BANK returns to help us make a trade decision. For example, suppose you find that UNITY BANK 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 BANK 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 BANK stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if UNITY BANK stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in UNITY BANK stock over time.
Current vs Lagged Prices |
| Timeline |
UNITY BANK Lagged Returns
When evaluating UNITY BANK's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of UNITY BANK stock have on its future price. UNITY BANK 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 BANK autocorrelation shows the relationship between UNITY BANK stock current value and its past values and can show if there is a momentum factor associated with investing in UNITY BANK PLC.
Regressed Prices |
| Timeline |