Aega ASA (Norway) Market Value
| AEGA Stock | NOK 1.95 0.01 0.52% |
| Symbol | Aega |
Aega 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 Aega 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 Aega ASA.
| 03/31/2024 |
| 04/30/2024 |
If you would invest 0.00 in Aega ASA on March 31, 2024 and sell it all today you would earn a total of 0.00 from holding Aega ASA or generate 0.0% return on investment in Aega ASA over 30 days. Aega ASA is related to or competes with EAM Solar, and Aker Solutions. Aega ASA, a solar utility company, acquires and operates solar power plants More
Aega 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 Aega 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 Aega ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 16.33 | |||
| Value At Risk | (7.83) | |||
| Potential Upside | 5.45 |
Aega ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Aega ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aega ASA's standard deviation. In reality, there are many statistical measures that can use Aega ASA historical prices to predict the future Aega ASA's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.74) | |||
| Treynor Ratio | 2.49 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Aega ASA'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.
Aega ASA Backtested Returns
Aega ASA secures Sharpe Ratio (or Efficiency) of -0.0783, which signifies that the company had a -0.0783% return per unit of standard deviation over the last 3 months. Aega ASA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Aega ASA's risk adjusted performance of (0.05), and Mean Deviation of 2.35 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Aega ASA are expected to decrease at a much lower rate. During the bear market, Aega ASA is likely to outperform the market. Aega ASA has an expected return of -0.26%. Please make sure to confirm Aega ASA jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Aega ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.26 |
Poor predictability
Aega ASA has poor predictability. Overlapping area represents the amount of predictability between Aega ASA time series from 31st of March 2024 to 15th of April 2024 and 15th of April 2024 to 30th of April 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 Aega ASA price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Aega ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Aega ASA lagged returns against current returns
Autocorrelation, which is Aega 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 Aega ASA's stock expected returns. We can calculate the autocorrelation of Aega ASA returns to help us make a trade decision. For example, suppose you find that Aega 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 |
Aega 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 Aega ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aega ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aega ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Aega ASA Lagged Returns
When evaluating Aega ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aega ASA stock have on its future price. Aega 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, Aega ASA autocorrelation shows the relationship between Aega ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Aega ASA.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Aega ASA in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Aega ASA's short interest history, or implied volatility extrapolated from Aega ASA options trading.
Pair Trading with Aega ASA
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 Aega ASA 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 Aega ASA will appreciate offsetting losses from the drop in the long position's value.Moving together with Aega Stock
| 0.73 | EAM | EAM Solar ASA | PairCorr |
Moving against Aega Stock
| 0.86 | VAR | Var Energi ASA Earnings Call This Week | PairCorr |
| 0.58 | ADE | Adevinta ASA | PairCorr |
| 0.57 | AKRBP | Aker BP ASA Earnings Call Today | PairCorr |
| 0.5 | NHY | Norsk Hydro ASA Earnings Call This Week | PairCorr |
| 0.49 | EQNR | Equinor ASA | PairCorr |
The ability to find closely correlated positions to Aega ASA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aega ASA 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 Aega ASA - 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 Aega ASA to buy it.
The correlation of Aega ASA 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 Aega ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aega ASA 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 Aega ASA 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.Check out Aega ASA Correlation, Aega ASA Volatility and Aega ASA Alpha and Beta module to complement your research on Aega ASA. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Complementary Tools for Aega Stock analysis
When running Aega ASA's price analysis, check to measure Aega ASA'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 Aega ASA is operating at the current time. Most of Aega ASA's value examination focuses on studying past and present price action to predict the probability of Aega ASA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Aega ASA's price. Additionally, you may evaluate how the addition of Aega ASA to your portfolios can decrease your overall portfolio volatility.
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Aega ASA 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.