Addnode Group (Sweden) Market Value
ANOD-B Stock | SEK 114.40 0.80 0.70% |
Symbol | Addnode |
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.
04/09/2022 |
| 03/29/2024 |
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.
Downside Deviation | 1.59 | |||
Information Ratio | 0.1446 | |||
Maximum Drawdown | 14.49 | |||
Value At Risk | (2.45) | |||
Potential Upside | 4.46 |
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.Risk Adjusted Performance | 0.121 | |||
Jensen Alpha | 0.2871 | |||
Total Risk Alpha | (0.06) | |||
Sortino Ratio | 0.2058 | |||
Treynor Ratio | 0.3419 |
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.
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 Coefficient | 0.22 | |
Spearman Rank Test | -0.36 | |
Residual Average | 0.0 | |
Price Variance | 467.78 |
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
0.86 | LAGR-B | Lagercrantz Group | PairCorr |
0.76 | DUST | Dustin Group AB | PairCorr |
Moving against Addnode Stock
0.85 | STABL | Stayble Therapeutics | PairCorr |
0.68 | ALZCUR | AlzeCure Pharma | PairCorr |
0.65 | B3 | B3 Consulting Group | PairCorr |
0.62 | IBT-B | Infant Bacterial | PairCorr |
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.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.