ChemoMetec (Denmark) Market Value
| CHEMM Stock | DKK 285.20 2.40 0.83% |
| Symbol | ChemoMetec |
ChemoMetec '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 ChemoMetec'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 ChemoMetec.
| 07/28/2023 |
| 04/23/2024 |
If you would invest 0.00 in ChemoMetec on July 28, 2023 and sell it all today you would earn a total of 0.00 from holding ChemoMetec AS or generate 0.0% return on investment in ChemoMetec over 270 days. ChemoMetec is related to or competes with Ambu AS, Danske Bank, Genmab AS, DSV Panalpina, and FLSmidth. ChemoMetec AS engages in the development, production, and sale of analytical equipment for cell counting and analysis th... More
ChemoMetec 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 ChemoMetec'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 ChemoMetec AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 45.71 | |||
| Value At Risk | (5.60) | |||
| Potential Upside | 6.17 |
ChemoMetec Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ChemoMetec's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ChemoMetec's standard deviation. In reality, there are many statistical measures that can use ChemoMetec historical prices to predict the future ChemoMetec's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.41) | |||
| Total Risk Alpha | (0.92) | |||
| Treynor Ratio | (0.13) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ChemoMetec'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.
ChemoMetec AS Backtested Returns
ChemoMetec AS secures Sharpe Ratio (or Efficiency) of -0.0575, which signifies that the company had a -0.0575% return per unit of standard deviation over the last 3 months. ChemoMetec AS exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ChemoMetec's mean deviation of 3.04, and Risk Adjusted Performance of (0.02) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.99, 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, ChemoMetec will likely underperform. ChemoMetec AS has an expected return of -0.32%. Please make sure to confirm ChemoMetec AS total risk alpha, as well as the relationship between the skewness and day median price , to decide if ChemoMetec AS performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.61 |
Very good reverse predictability
ChemoMetec AS has very good reverse predictability. Overlapping area represents the amount of predictability between ChemoMetec time series from 28th of July 2023 to 10th of December 2023 and 10th of December 2023 to 23rd of April 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 ChemoMetec AS price movement. The serial correlation of -0.61 indicates that roughly 61.0% of current ChemoMetec price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.61 | |
| Spearman Rank Test | -0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 3324.03 |
ChemoMetec AS lagged returns against current returns
Autocorrelation, which is ChemoMetec 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 ChemoMetec's stock expected returns. We can calculate the autocorrelation of ChemoMetec returns to help us make a trade decision. For example, suppose you find that ChemoMetec 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 |
ChemoMetec 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 ChemoMetec stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ChemoMetec stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ChemoMetec stock over time.
Current vs Lagged Prices |
| Timeline |
ChemoMetec Lagged Returns
When evaluating ChemoMetec's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ChemoMetec stock have on its future price. ChemoMetec 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, ChemoMetec autocorrelation shows the relationship between ChemoMetec stock current value and its past values and can show if there is a momentum factor associated with investing in ChemoMetec AS.
Regressed Prices |
| Timeline |
Pair Trading with ChemoMetec
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 ChemoMetec 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 ChemoMetec will appreciate offsetting losses from the drop in the long position's value.Moving against ChemoMetec Stock
| 0.68 | FYNBK | Fynske Bank AS | PairCorr |
The ability to find closely correlated positions to ChemoMetec could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ChemoMetec 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 ChemoMetec - 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 ChemoMetec AS to buy it.
The correlation of ChemoMetec 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 ChemoMetec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ChemoMetec AS 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 ChemoMetec 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 ChemoMetec Correlation, ChemoMetec Volatility and ChemoMetec Alpha and Beta module to complement your research on ChemoMetec. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Complementary Tools for ChemoMetec Stock analysis
When running ChemoMetec's price analysis, check to measure ChemoMetec'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 ChemoMetec is operating at the current time. Most of ChemoMetec's value examination focuses on studying past and present price action to predict the probability of ChemoMetec's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ChemoMetec's price. Additionally, you may evaluate how the addition of ChemoMetec to your portfolios can decrease your overall portfolio volatility.
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ChemoMetec 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.