Aspocomp Group (Finland) Market Value
| ACG1V Stock | EUR 3.14 0.02 0.64% |
| Symbol | Aspocomp |
Aspocomp 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 Aspocomp 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 Aspocomp Group.
| 04/05/2024 |
| 05/05/2024 |
If you would invest 0.00 in Aspocomp Group on April 5, 2024 and sell it all today you would earn a total of 0.00 from holding Aspocomp Group Oyj or generate 0.0% return on investment in Aspocomp Group over 30 days. Aspocomp Group is related to or competes with Tokmanni Group, Kemira Oyj, Valmet Oyj, Etteplan Oyj, and Olvi Oyj. Aspocomp Group Oyj manufactures and sells printed circuit boards in Finland, rest of Europe, Asia, and internationally More
Aspocomp 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 Aspocomp 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 Aspocomp Group Oyj upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 11.64 | |||
| Value At Risk | (3.26) | |||
| Potential Upside | 3.31 |
Aspocomp Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Aspocomp Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aspocomp Group's standard deviation. In reality, there are many statistical measures that can use Aspocomp Group historical prices to predict the future Aspocomp Group's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | (8.56) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Aspocomp 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.
Aspocomp Group Oyj Backtested Returns
Aspocomp Group Oyj secures Sharpe Ratio (or Efficiency) of -0.0496, which signifies that the company had a -0.0496% return per unit of risk over the last 3 months. Aspocomp Group Oyj exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Aspocomp Group's Risk Adjusted Performance of (0.03), mean deviation of 1.45, and Standard Deviation of 2.0 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0145, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Aspocomp Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding Aspocomp Group is expected to be smaller as well. Aspocomp Group Oyj has an expected return of -0.1%. Please make sure to confirm Aspocomp Group Oyj accumulation distribution, and the relationship between the value at risk and day typical price , to decide if Aspocomp Group Oyj performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.22 |
Weak reverse predictability
Aspocomp Group Oyj has weak reverse predictability. Overlapping area represents the amount of predictability between Aspocomp Group time series from 5th of April 2024 to 20th of April 2024 and 20th of April 2024 to 5th of May 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 Aspocomp Group Oyj price movement. The serial correlation of -0.22 indicates that over 22.0% of current Aspocomp Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.22 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Aspocomp Group Oyj lagged returns against current returns
Autocorrelation, which is Aspocomp 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 Aspocomp Group's stock expected returns. We can calculate the autocorrelation of Aspocomp Group returns to help us make a trade decision. For example, suppose you find that Aspocomp 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 |
Aspocomp 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 Aspocomp Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aspocomp Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aspocomp Group stock over time.
Current vs Lagged Prices |
| Timeline |
Aspocomp Group Lagged Returns
When evaluating Aspocomp Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aspocomp Group stock have on its future price. Aspocomp 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, Aspocomp Group autocorrelation shows the relationship between Aspocomp Group stock current value and its past values and can show if there is a momentum factor associated with investing in Aspocomp Group Oyj.
Regressed Prices |
| Timeline |
Pair Trading with Aspocomp 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 Aspocomp 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 Aspocomp Group will appreciate offsetting losses from the drop in the long position's value.Moving against Aspocomp Stock
| 0.68 | SAMPO | Sampo Oyj A Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Aspocomp 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 Aspocomp 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 Aspocomp 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 Aspocomp Group Oyj to buy it.
The correlation of Aspocomp 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 Aspocomp Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aspocomp Group Oyj 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 Aspocomp 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 Aspocomp Group Correlation, Aspocomp Group Volatility and Aspocomp Group Alpha and Beta module to complement your research on Aspocomp Group. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Complementary Tools for Aspocomp Stock analysis
When running Aspocomp Group's price analysis, check to measure Aspocomp 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 Aspocomp Group is operating at the current time. Most of Aspocomp Group's value examination focuses on studying past and present price action to predict the probability of Aspocomp 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 Aspocomp Group's price. Additionally, you may evaluate how the addition of Aspocomp Group to your portfolios can decrease your overall portfolio volatility.
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Aspocomp 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.