Roctool (France) Market Value
| ALROC Stock | EUR 1.08 0.01 0.93% |
| Symbol | Roctool |
Roctool '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 Roctool'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 Roctool.
| 03/29/2024 |
| 04/28/2024 |
If you would invest 0.00 in Roctool on March 29, 2024 and sell it all today you would earn a total of 0.00 from holding Roctool or generate 0.0% return on investment in Roctool over 30 days. Roctool is related to or competes with Mersen SA, Trigano SA, Chargeurs, and Eramet SA. RocTool S.A. provides induction heating systems, tooling hardware products, power units, and peripherals in France and i... More
Roctool 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 Roctool'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 Roctool upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 14.88 | |||
| Value At Risk | (5.51) | |||
| Potential Upside | 3.92 |
Roctool Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Roctool's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Roctool's standard deviation. In reality, there are many statistical measures that can use Roctool historical prices to predict the future Roctool's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.74) | |||
| Total Risk Alpha | (1.16) | |||
| Treynor Ratio | 31.0 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Roctool'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.
Roctool Backtested Returns
Roctool maintains Sharpe Ratio (i.e., Efficiency) of -0.21, which implies the firm had a -0.21% return per unit of risk over the last 3 months. Roctool exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Roctool's Variance of 10.78, risk adjusted performance of (0.13), and Coefficient Of Variation of (447.38) to confirm the risk estimate we provide. The company holds a Beta of -0.024, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Roctool are expected to decrease at a much lower rate. During the bear market, Roctool is likely to outperform the market. Roctool has an expected return of -0.7%. Please make sure to check Roctool kurtosis, day typical price, as well as the relationship between the treynor ratio and standard deviation , to decide if Roctool performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.13 |
Insignificant reverse predictability
Roctool has insignificant reverse predictability. Overlapping area represents the amount of predictability between Roctool time series from 29th of March 2024 to 13th of April 2024 and 13th of April 2024 to 28th 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 Roctool price movement. The serial correlation of -0.13 indicates that less than 13.0% of current Roctool price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.13 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Roctool lagged returns against current returns
Autocorrelation, which is Roctool 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 Roctool's stock expected returns. We can calculate the autocorrelation of Roctool returns to help us make a trade decision. For example, suppose you find that Roctool 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 |
Roctool 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 Roctool stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Roctool stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Roctool stock over time.
Current vs Lagged Prices |
| Timeline |
Roctool Lagged Returns
When evaluating Roctool's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Roctool stock have on its future price. Roctool 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, Roctool autocorrelation shows the relationship between Roctool stock current value and its past values and can show if there is a momentum factor associated with investing in Roctool.
Regressed Prices |
| Timeline |
Pair Trading with Roctool
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 Roctool 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 Roctool will appreciate offsetting losses from the drop in the long position's value.Moving against Roctool Stock
| 0.68 | CBDG | Compagnie du Cambodge | PairCorr |
| 0.44 | ALIDS | Idsud SA | PairCorr |
The ability to find closely correlated positions to Roctool could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Roctool 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 Roctool - 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 Roctool to buy it.
The correlation of Roctool 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 Roctool moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Roctool 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 Roctool 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 Roctool Correlation, Roctool Volatility and Roctool Alpha and Beta module to complement your research on Roctool. Note that the Roctool information on this page should be used as a complementary analysis to other Roctool's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Complementary Tools for Roctool Stock analysis
When running Roctool's price analysis, check to measure Roctool'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 Roctool is operating at the current time. Most of Roctool's value examination focuses on studying past and present price action to predict the probability of Roctool's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Roctool's price. Additionally, you may evaluate how the addition of Roctool to your portfolios can decrease your overall portfolio volatility.
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Roctool 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.