Addnode Group (Sweden) Market Value

ANOD-B Stock  SEK 114.40  0.80  0.70%   
Addnode Group's market value is the price at which a share of Addnode Group trades on a public exchange. It measures the collective expectations of Addnode Group AB investors about its performance. Addnode Group is trading at 114.40 as of the 29th of March 2024, a 0.70% increase since the beginning of the trading day. The stock's open price was 113.6.
With this module, you can estimate the performance of a buy and hold strategy of Addnode Group AB and determine expected loss or profit from investing in Addnode Group over a given investment horizon. Check out Addnode Group Correlation, Addnode Group Volatility and Addnode Group Alpha and Beta module to complement your research on Addnode Group.
Symbol

Please note, there is a significant difference between Addnode Group's value and its price as these two are different measures arrived at by different means. Investors typically determine if Addnode Group is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Addnode Group's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Addnode Group '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 Addnode Group'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 Addnode Group.
0.00
04/09/2022
No Change 0.00  0.0 
In 1 year 11 months and 21 days
03/29/2024
0.00
If you would invest  0.00  in Addnode Group on April 9, 2022 and sell it all today you would earn a total of 0.00 from holding Addnode Group AB or generate 0.0% return on investment in Addnode Group over 720 days. Addnode Group is related to or competes with Invisio Communications, Maven Wireless, Axfood AB, Kinnevik Investment, Qleanair Holding, G5 Entertainment, and Lundin Mining. Addnode Group AB provides software and services for the design, construction, product data information, project collabor... More

Addnode Group 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 Addnode Group'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 Addnode Group AB upside and downside potential and time the market with a certain degree of confidence.

Addnode Group Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Addnode Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Addnode Group's standard deviation. In reality, there are many statistical measures that can use Addnode Group historical prices to predict the future Addnode Group's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Addnode Group'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.
Hype
Prediction
LowEstimatedHigh
112.11114.40116.69
Details
Intrinsic
Valuation
LowRealHigh
102.96125.33127.62
Details
Naive
Forecast
LowNextHigh
119.92122.22124.51
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
99.85107.85115.84
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Addnode Group. Your research has to be compared to or analyzed against Addnode Group's peers to derive any actionable benefits. When done correctly, Addnode Group's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Addnode Group AB.

Addnode Group AB Backtested Returns

Addnode Group appears to be very steady, given 3 months investment horizon. Addnode Group AB secures Sharpe Ratio (or Efficiency) of 0.23, which signifies that the company had a 0.23% return per unit of standard deviation over the last 3 months. By analyzing Addnode Group's technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please makes use of Addnode Group's mean deviation of 1.61, and Risk Adjusted Performance of 0.121 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Addnode Group holds a performance score of 17. The firm shows a Beta (market volatility) of 1.32, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Addnode Group will likely underperform. Please check Addnode Group's downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Addnode Group's price patterns will revert.

Auto-correlation

    
  0.22  

Weak predictability

Addnode Group AB has weak predictability. Overlapping area represents the amount of predictability between Addnode Group time series from 9th of April 2022 to 4th of April 2023 and 4th of April 2023 to 29th of March 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 Addnode Group AB price movement. The serial correlation of 0.22 indicates that over 22.0% of current Addnode Group price fluctuation can be explain by its past prices.
Correlation Coefficient0.22
Spearman Rank Test-0.36
Residual Average0.0
Price Variance467.78

Addnode Group AB lagged returns against current returns

Autocorrelation, which is Addnode Group 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 Addnode Group's stock expected returns. We can calculate the autocorrelation of Addnode Group returns to help us make a trade decision. For example, suppose you find that Addnode Group 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  

Addnode Group 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 Addnode Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Addnode Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Addnode Group stock over time.
   Current vs Lagged Prices   
       Timeline  

Addnode Group Lagged Returns

When evaluating Addnode Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Addnode Group stock have on its future price. Addnode Group 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, Addnode Group autocorrelation shows the relationship between Addnode Group stock current value and its past values and can show if there is a momentum factor associated with investing in Addnode Group AB.
   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 Addnode Group 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, Addnode Group's short interest history, or implied volatility extrapolated from Addnode Group options trading.

Pair Trading with Addnode Group

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 Addnode Group 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 Addnode Group will appreciate offsetting losses from the drop in the long position's value.

Moving together with Addnode Stock

  0.86LAGR-B Lagercrantz GroupPairCorr
  0.76DUST Dustin Group ABPairCorr

Moving against Addnode Stock

  0.85STABL Stayble TherapeuticsPairCorr
  0.68ALZCUR AlzeCure PharmaPairCorr
  0.65B3 B3 Consulting GroupPairCorr
  0.62IBT-B Infant BacterialPairCorr
The ability to find closely correlated positions to Addnode Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Addnode Group 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 Addnode Group - 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 Addnode Group AB to buy it.
The correlation of Addnode Group 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 Addnode Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Addnode Group AB 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 Addnode Group 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.
Pair CorrelationCorrelation Matching
Check out Addnode Group Correlation, Addnode Group Volatility and Addnode Group Alpha and Beta module to complement your research on Addnode Group.
You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.

Complementary Tools for Addnode Stock analysis

When running Addnode Group's price analysis, check to measure Addnode Group'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 Addnode Group is operating at the current time. Most of Addnode Group's value examination focuses on studying past and present price action to predict the probability of Addnode Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Addnode Group's price. Additionally, you may evaluate how the addition of Addnode Group to your portfolios can decrease your overall portfolio volatility.
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Addnode Group 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.
A focus of Addnode Group technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Addnode Group trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...