Wirtek AS (Denmark) Market Value
| WIRTEK Stock | DKK 8.20 0.10 1.23% |
| Symbol | Wirtek |
Wirtek AS '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 Wirtek AS'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 Wirtek AS.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Wirtek AS on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Wirtek AS or generate 0.0% return on investment in Wirtek AS over 30 days. Wirtek AS is related to or competes with CBrain AS, FOM Technologies, Penneo AS, and Dataproces Group. Wirtek AS, an IT outsourcing company, provides software solutions and electronic equipment products in Denmark More
Wirtek AS 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 Wirtek AS'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 Wirtek AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 12.92 | |||
| Value At Risk | (3.51) | |||
| Potential Upside | 3.33 |
Wirtek AS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wirtek AS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wirtek AS's standard deviation. In reality, there are many statistical measures that can use Wirtek AS historical prices to predict the future Wirtek AS's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.53) | |||
| Treynor Ratio | (0.48) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Wirtek AS'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.
Wirtek AS Backtested Returns
Wirtek AS shows Sharpe Ratio of -0.0691, which attests that the company had a -0.0691% return per unit of risk over the last 3 months. Wirtek AS exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wirtek AS's Market Risk Adjusted Performance of (0.47), mean deviation of 1.58, and Standard Deviation of 2.18 to validate the risk estimate we provide. The firm maintains a market beta of 0.34, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Wirtek AS's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wirtek AS is expected to be smaller as well. At this point, Wirtek AS has a negative expected return of -0.15%. Please make sure to check out Wirtek AS's maximum drawdown, rate of daily change, as well as the relationship between the Rate Of Daily Change and relative strength index , to decide if Wirtek AS performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.50 |
Modest predictability
Wirtek AS has modest predictability. Overlapping area represents the amount of predictability between Wirtek AS time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Wirtek AS price movement. The serial correlation of 0.5 indicates that about 50.0% of current Wirtek AS price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Wirtek AS lagged returns against current returns
Autocorrelation, which is Wirtek AS 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 Wirtek AS's stock expected returns. We can calculate the autocorrelation of Wirtek AS returns to help us make a trade decision. For example, suppose you find that Wirtek AS 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 |
Wirtek AS 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 Wirtek AS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wirtek AS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wirtek AS stock over time.
Current vs Lagged Prices |
| Timeline |
Wirtek AS Lagged Returns
When evaluating Wirtek AS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wirtek AS stock have on its future price. Wirtek AS 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, Wirtek AS autocorrelation shows the relationship between Wirtek AS stock current value and its past values and can show if there is a momentum factor associated with investing in Wirtek AS.
Regressed Prices |
| Timeline |
Pair Trading with Wirtek AS
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 Wirtek AS 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 Wirtek AS will appreciate offsetting losses from the drop in the long position's value.Moving together with Wirtek Stock
Moving against Wirtek Stock
The ability to find closely correlated positions to Wirtek AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wirtek AS 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 Wirtek AS - 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 Wirtek AS to buy it.
The correlation of Wirtek AS 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 Wirtek AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wirtek 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 Wirtek AS 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 Wirtek Stock
Wirtek AS financial ratios help investors to determine whether Wirtek 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 Wirtek with respect to the benefits of owning Wirtek AS security.