XXL ASA (Norway) Market Value
| XXL Stock | NOK 9.32 0.88 8.63% |
| Symbol | XXL |
XXL ASA '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 XXL ASA'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 XXL ASA.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in XXL ASA on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding XXL ASA or generate 0.0% return on investment in XXL ASA over 30 days. XXL ASA is related to or competes with Europris ASA, DnB ASA, Storebrand ASA, Telenor ASA, and Gjensidige Forsikring. The company offers sports, health, and fitness products, such as sports equipment and sportswear for various sports, inc... More
XXL ASA 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 XXL ASA'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 XXL ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 72.03 | |||
| Value At Risk | (6.04) | |||
| Potential Upside | 5.0 |
XXL ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for XXL ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as XXL ASA's standard deviation. In reality, there are many statistical measures that can use XXL ASA historical prices to predict the future XXL ASA's volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (1.85) | |||
| Total Risk Alpha | (3.70) | |||
| Treynor Ratio | 0.7303 |
XXL ASA Backtested Returns
XXL ASA shows Sharpe Ratio of -0.24, which attests that the company had a -0.24% return per unit of standard deviation over the last 3 months. XXL ASA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out XXL ASA's Mean Deviation of 4.19, risk adjusted performance of (0.17), and Standard Deviation of 9.37 to validate the risk estimate we provide. The firm maintains a market beta of -3.04, which attests to a somewhat significant risk relative to the market. As returns on the market increase, returns on owning XXL ASA are expected to decrease by larger amounts. On the other hand, during market turmoil, XXL ASA is expected to outperform it. At this point, XXL ASA has a negative expected return of -2.28%. Please make sure to check out XXL ASA's accumulation distribution, and the relationship between the potential upside and day median price , to decide if XXL ASA performance from the past will be repeated at some future point.
Auto-correlation | 0.74 |
Good predictability
XXL ASA has good predictability. Overlapping area represents the amount of predictability between XXL ASA 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 XXL ASA price movement. The serial correlation of 0.74 indicates that around 74.0% of current XXL ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.49 |
XXL ASA lagged returns against current returns
Autocorrelation, which is XXL ASA 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 XXL ASA's stock expected returns. We can calculate the autocorrelation of XXL ASA returns to help us make a trade decision. For example, suppose you find that XXL ASA 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 |
XXL ASA 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 XXL ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if XXL ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in XXL ASA stock over time.
Current vs Lagged Prices |
| Timeline |
XXL ASA Lagged Returns
When evaluating XXL ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of XXL ASA stock have on its future price. XXL ASA 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, XXL ASA autocorrelation shows the relationship between XXL ASA stock current value and its past values and can show if there is a momentum factor associated with investing in XXL ASA.
Regressed Prices |
| Timeline |
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XXL ASA financial ratios help investors to determine whether XXL 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 XXL with respect to the benefits of owning XXL ASA security.