Nokian Tyres Plc Stock Market Value
| NKRKY Stock | USD 4.74 0.01 0.21% |
| Symbol | Nokian |
Nokian Tyres '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 Nokian Tyres' pink sheet 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 Nokian Tyres.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Nokian Tyres on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Nokian Tyres Plc or generate 0.0% return on investment in Nokian Tyres over 30 days. Nokian Tyres is related to or competes with Mobileye Global, and Aptiv PLC. Nokian Renkaat Oyj develops and manufactures tires in Finland, Nordics, Russia, the rest of Europe, Asia, the Americas, ... More
Nokian Tyres 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 Nokian Tyres' pink sheet 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 Nokian Tyres Plc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.4 | |||
| Information Ratio | 0.0012 | |||
| Maximum Drawdown | 11.14 | |||
| Value At Risk | (3.33) | |||
| Potential Upside | 4.38 |
Nokian Tyres Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nokian Tyres' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nokian Tyres' standard deviation. In reality, there are many statistical measures that can use Nokian Tyres historical prices to predict the future Nokian Tyres' volatility.| Risk Adjusted Performance | 0.0277 | |||
| Jensen Alpha | 0.0135 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | 0.0011 | |||
| Treynor Ratio | 0.0751 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nokian Tyres' 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.
Nokian Tyres Plc Backtested Returns
We consider Nokian Tyres slightly risky. Nokian Tyres Plc has Sharpe Ratio of 0.0661, which conveys that the firm had a 0.0661% return per unit of risk over the last 3 months. We have found thirty technical indicators for Nokian Tyres, which you can use to evaluate the volatility of the firm. Please verify Nokian Tyres' Downside Deviation of 2.4, risk adjusted performance of 0.0277, and Mean Deviation of 1.35 to check out if the risk estimate we provide is consistent with the expected return of 0.14%. Nokian Tyres has a performance score of 5 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.81, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Nokian Tyres' returns are expected to increase less than the market. However, during the bear market, the loss of holding Nokian Tyres is expected to be smaller as well. Nokian Tyres Plc right now secures a risk of 2.16%. Please verify Nokian Tyres Plc maximum drawdown, as well as the relationship between the skewness and day typical price , to decide if Nokian Tyres Plc will be following its current price movements.
Auto-correlation | -0.15 |
Insignificant reverse predictability
Nokian Tyres Plc has insignificant reverse predictability. Overlapping area represents the amount of predictability between Nokian Tyres time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Nokian Tyres Plc price movement. The serial correlation of -0.15 indicates that less than 15.0% of current Nokian Tyres price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Nokian Tyres Plc lagged returns against current returns
Autocorrelation, which is Nokian Tyres pink sheet'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 Nokian Tyres' pink sheet expected returns. We can calculate the autocorrelation of Nokian Tyres returns to help us make a trade decision. For example, suppose you find that Nokian Tyres has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Nokian Tyres 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 Nokian Tyres pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nokian Tyres pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nokian Tyres pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Nokian Tyres Lagged Returns
When evaluating Nokian Tyres' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nokian Tyres pink sheet have on its future price. Nokian Tyres 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, Nokian Tyres autocorrelation shows the relationship between Nokian Tyres pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Nokian Tyres Plc.
Regressed Prices |
| Timeline |
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Complementary Tools for Nokian Pink Sheet analysis
When running Nokian Tyres' price analysis, check to measure Nokian Tyres' 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 Nokian Tyres is operating at the current time. Most of Nokian Tyres' value examination focuses on studying past and present price action to predict the probability of Nokian Tyres' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nokian Tyres' price. Additionally, you may evaluate how the addition of Nokian Tyres to your portfolios can decrease your overall portfolio volatility.
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Nokian Tyres technical pink sheet 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, pink sheet market cycles, or different charting patterns.