Norsk Hydro (Norway) Market Value
| NHY Stock | NOK 66.96 0.84 1.24% |
| Symbol | Norsk |
Norsk Hydro '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 Norsk Hydro'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 Norsk Hydro.
| 05/27/2022 |
| 05/16/2024 |
If you would invest 0.00 in Norsk Hydro on May 27, 2022 and sell it all today you would earn a total of 0.00 from holding Norsk Hydro ASA or generate 0.0% return on investment in Norsk Hydro over 720 days. Norsk Hydro is related to or competes with Telenor ASA, Orkla ASA, DnB ASA, Storebrand ASA, and Equinor ASA. Norsk Hydro ASA operates as an integrated aluminum company worldwide More
Norsk Hydro 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 Norsk Hydro'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 Norsk Hydro ASA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.56 | |||
| Information Ratio | 0.076 | |||
| Maximum Drawdown | 9.36 | |||
| Value At Risk | (2.49) | |||
| Potential Upside | 4.11 |
Norsk Hydro Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Norsk Hydro's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Norsk Hydro's standard deviation. In reality, there are many statistical measures that can use Norsk Hydro historical prices to predict the future Norsk Hydro's volatility.| Risk Adjusted Performance | 0.0833 | |||
| Jensen Alpha | 0.2141 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0958 | |||
| Treynor Ratio | 1.15 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Norsk Hydro'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.
Norsk Hydro ASA Backtested Returns
Norsk Hydro appears to be very steady, given 3 months investment horizon. Norsk Hydro ASA has Sharpe Ratio of 0.18, which conveys that the firm had a 0.18% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Norsk Hydro, which you can use to evaluate the volatility of the firm. Please exercise Norsk Hydro's Downside Deviation of 1.56, risk adjusted performance of 0.0833, and Mean Deviation of 1.48 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Norsk Hydro holds a performance score of 13. The company secures a Beta (Market Risk) of 0.2, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Norsk Hydro's returns are expected to increase less than the market. However, during the bear market, the loss of holding Norsk Hydro is expected to be smaller as well. Please check Norsk Hydro's skewness, day typical price, and the relationship between the downside variance and daily balance of power , to make a quick decision on whether Norsk Hydro's current price movements will revert.
Auto-correlation | -0.09 |
Very weak reverse predictability
Norsk Hydro ASA has very weak reverse predictability. Overlapping area represents the amount of predictability between Norsk Hydro time series from 27th of May 2022 to 22nd of May 2023 and 22nd of May 2023 to 16th 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 Norsk Hydro ASA price movement. The serial correlation of -0.09 indicates that less than 9.0% of current Norsk Hydro price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 16.09 |
Norsk Hydro ASA lagged returns against current returns
Autocorrelation, which is Norsk Hydro 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 Norsk Hydro's stock expected returns. We can calculate the autocorrelation of Norsk Hydro returns to help us make a trade decision. For example, suppose you find that Norsk Hydro 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 |
Norsk Hydro 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 Norsk Hydro stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norsk Hydro stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Norsk Hydro stock over time.
Current vs Lagged Prices |
| Timeline |
Norsk Hydro Lagged Returns
When evaluating Norsk Hydro's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Norsk Hydro stock have on its future price. Norsk Hydro 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, Norsk Hydro autocorrelation shows the relationship between Norsk Hydro stock current value and its past values and can show if there is a momentum factor associated with investing in Norsk Hydro ASA.
Regressed Prices |
| Timeline |
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Complementary Tools for Norsk Stock analysis
When running Norsk Hydro's price analysis, check to measure Norsk Hydro'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 Norsk Hydro is operating at the current time. Most of Norsk Hydro's value examination focuses on studying past and present price action to predict the probability of Norsk Hydro's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Norsk Hydro's price. Additionally, you may evaluate how the addition of Norsk Hydro to your portfolios can decrease your overall portfolio volatility.
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Norsk Hydro 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.