EAM Solar (Norway) Market Value
| EAM Stock | NOK 12.80 0.30 2.40% |
| Symbol | EAM |
EAM Solar '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 EAM Solar'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 EAM Solar.
| 05/24/2023 |
| 04/18/2024 |
If you would invest 0.00 in EAM Solar on May 24, 2023 and sell it all today you would earn a total of 0.00 from holding EAM Solar ASA or generate 0.0% return on investment in EAM Solar over 330 days. EAM Solar is related to or competes with AF Gruppen, Aker ASA, Kitron ASA, Kongsberg Gruppen, and Veidekke ASA. EAM Solar ASA acquires, owns, and operates solar power plants in Europe More
EAM Solar 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 EAM Solar'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 EAM Solar ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 33.47 | |||
| Value At Risk | (6.25) | |||
| Potential Upside | 6.54 |
EAM Solar Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EAM Solar's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EAM Solar's standard deviation. In reality, there are many statistical measures that can use EAM Solar historical prices to predict the future EAM Solar's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.46) | |||
| Total Risk Alpha | (0.78) | |||
| Treynor Ratio | (2.52) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of EAM Solar'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.
EAM Solar ASA Backtested Returns
EAM Solar ASA secures Sharpe Ratio (or Efficiency) of -0.0859, which denotes the company had a -0.0859% return per unit of risk over the last 3 months. EAM Solar ASA exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EAM Solar's Mean Deviation of 2.85, standard deviation of 4.53, and Coefficient Of Variation of (1,015) to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.18, which means not very significant fluctuations relative to the market. As returns on the market increase, EAM Solar's returns are expected to increase less than the market. However, during the bear market, the loss of holding EAM Solar is expected to be smaller as well. EAM Solar ASA has an expected return of -0.4%. Please make sure to confirm EAM Solar ASA maximum drawdown, daily balance of power, period momentum indicator, as well as the relationship between the skewness and day typical price , to decide if EAM Solar ASA performance from the past will be repeated in the future.
Auto-correlation | -0.27 |
Weak reverse predictability
EAM Solar ASA has weak reverse predictability. Overlapping area represents the amount of predictability between EAM Solar time series from 24th of May 2023 to 5th of November 2023 and 5th of November 2023 to 18th 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 EAM Solar ASA price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current EAM Solar price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.27 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 7.73 |
EAM Solar ASA lagged returns against current returns
Autocorrelation, which is EAM Solar 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 EAM Solar's stock expected returns. We can calculate the autocorrelation of EAM Solar returns to help us make a trade decision. For example, suppose you find that EAM Solar 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 |
EAM Solar 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 EAM Solar stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EAM Solar stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EAM Solar stock over time.
Current vs Lagged Prices |
| Timeline |
EAM Solar Lagged Returns
When evaluating EAM Solar's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EAM Solar stock have on its future price. EAM Solar 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, EAM Solar autocorrelation shows the relationship between EAM Solar stock current value and its past values and can show if there is a momentum factor associated with investing in EAM Solar 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 EAM Solar 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, EAM Solar's short interest history, or implied volatility extrapolated from EAM Solar options trading.
Pair Trading with EAM Solar
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 EAM Solar 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 EAM Solar will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to EAM Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EAM Solar 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 EAM Solar - 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 EAM Solar ASA to buy it.
The correlation of EAM Solar 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 EAM Solar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EAM Solar ASA 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 EAM Solar 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 EAM Solar Correlation, EAM Solar Volatility and EAM Solar Alpha and Beta module to complement your research on EAM Solar. You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Complementary Tools for EAM Stock analysis
When running EAM Solar's price analysis, check to measure EAM Solar'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 EAM Solar is operating at the current time. Most of EAM Solar's value examination focuses on studying past and present price action to predict the probability of EAM Solar's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EAM Solar's price. Additionally, you may evaluate how the addition of EAM Solar to your portfolios can decrease your overall portfolio volatility.
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EAM Solar 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.