Norsk Hydro Asa Stock Market Value
| NHYKF Stock | USD 6.43 0.19 3.04% |
| 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 otc 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.
| 04/05/2024 |
| 05/05/2024 |
If you would invest 0.00 in Norsk Hydro on April 5, 2024 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 30 days. Norsk Hydro is related to or competes with Kaiser Aluminum, Century Aluminum, Constellium, and Alcoa Corp. Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, remelting, an... 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 otc 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 | 2.36 | |||
| Information Ratio | 0.0306 | |||
| Maximum Drawdown | 11.49 | |||
| Value At Risk | (3.81) | |||
| Potential Upside | 4.14 |
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 | 0.0468 | |||
| Jensen Alpha | 0.122 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | 0.0324 | |||
| Treynor Ratio | 0.4227 |
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 slightly risky, given 3 months investment horizon. Norsk Hydro ASA has Sharpe Ratio of 0.1, which conveys that the firm had a 0.1% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Norsk Hydro, which you can use to evaluate the volatility of the firm. Please exercise Norsk Hydro's Mean Deviation of 1.99, risk adjusted performance of 0.0468, and Downside Deviation of 2.36 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 8. The company secures a Beta (Market Risk) of 0.35, which conveys possible diversification benefits within a given portfolio. 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 expected short fall, and the relationship between the value at risk and rate of daily change , to make a quick decision on whether Norsk Hydro's current price movements will revert.
Auto-correlation | -0.14 |
Insignificant reverse predictability
Norsk Hydro ASA has insignificant reverse predictability. Overlapping area represents the amount of predictability between Norsk Hydro 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 Norsk Hydro ASA price movement. The serial correlation of -0.14 indicates that less than 14.0% of current Norsk Hydro price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.14 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Norsk Hydro ASA lagged returns against current returns
Autocorrelation, which is Norsk Hydro otc 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 otc 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 otc 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 otc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norsk Hydro otc 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 otc 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 otc 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 otc 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 |
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 Norsk Hydro 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, Norsk Hydro's short interest history, or implied volatility extrapolated from Norsk Hydro options trading.
Building efficient market-beating portfolios requires time, education, and a lot of computing power!
The Portfolio Architect is an AI-driven system that provides multiple benefits to our users by leveraging cutting-edge machine learning algorithms, statistical analysis, and predictive modeling to automate the process of asset selection and portfolio construction, saving time and reducing human error for individual and institutional investors.
Try AI Portfolio ArchitectCheck out Norsk Hydro Correlation, Norsk Hydro Volatility and Norsk Hydro Alpha and Beta module to complement your research on Norsk Hydro. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Complementary Tools for Norsk OTC 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.
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |
Norsk Hydro technical otc 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, otc market cycles, or different charting patterns.