Afarak Group (Finland) Market Value
| AFAGR Stock | EUR 0.35 0.01 2.78% |
| Symbol | Afarak |
Afarak Group '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 Afarak Group'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 Afarak Group.
| 03/30/2024 |
| 04/29/2024 |
If you would invest 0.00 in Afarak Group on March 30, 2024 and sell it all today you would earn a total of 0.00 from holding Afarak Group Oyj or generate 0.0% return on investment in Afarak Group over 30 days. Afarak Group is related to or competes with Outokumpu Oyj, Sotkamo Silver, SSAB AB, and Bittium Oyj. Afarak Group Oyj engages in production and supply of chrome products worldwide More
Afarak Group 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 Afarak Group'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 Afarak Group Oyj upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 15.2 | |||
| Value At Risk | (2.78) | |||
| Potential Upside | 2.78 |
Afarak Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Afarak Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Afarak Group's standard deviation. In reality, there are many statistical measures that can use Afarak Group historical prices to predict the future Afarak Group's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | (4.46) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Afarak Group'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.
Afarak Group Oyj Backtested Returns
Afarak Group Oyj secures Sharpe Ratio (or Efficiency) of -0.078, which signifies that the company had a -0.078% return per unit of standard deviation over the last 3 months. Afarak Group Oyj exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Afarak Group's risk adjusted performance of (0.04), and Mean Deviation of 1.34 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0434, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Afarak Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding Afarak Group is expected to be smaller as well. Afarak Group Oyj has an expected return of -0.18%. Please make sure to confirm Afarak Group Oyj jensen alpha and the relationship between the potential upside and period momentum indicator , to decide if Afarak Group Oyj performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.05 |
Virtually no predictability
Afarak Group Oyj has virtually no predictability. Overlapping area represents the amount of predictability between Afarak Group time series from 30th of March 2024 to 14th of April 2024 and 14th of April 2024 to 29th 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 Afarak Group Oyj price movement. The serial correlation of 0.05 indicates that only as little as 5.0% of current Afarak Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.05 | |
| Spearman Rank Test | -0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Afarak Group Oyj lagged returns against current returns
Autocorrelation, which is Afarak Group 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 Afarak Group's stock expected returns. We can calculate the autocorrelation of Afarak Group returns to help us make a trade decision. For example, suppose you find that Afarak Group 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 |
Afarak Group 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 Afarak Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Afarak Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Afarak Group stock over time.
Current vs Lagged Prices |
| Timeline |
Afarak Group Lagged Returns
When evaluating Afarak Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Afarak Group stock have on its future price. Afarak Group 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, Afarak Group autocorrelation shows the relationship between Afarak Group stock current value and its past values and can show if there is a momentum factor associated with investing in Afarak Group Oyj.
Regressed Prices |
| Timeline |
Pair Trading with Afarak Group
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 Afarak Group 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 Afarak Group will appreciate offsetting losses from the drop in the long position's value.Moving against Afarak Stock
| 0.49 | SAMPO | Sampo Oyj A | PairCorr |
| 0.44 | NDA-FI | Nordea Bank Abp | PairCorr |
| 0.43 | STERV | Stora Enso Oyj | PairCorr |
The ability to find closely correlated positions to Afarak Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Afarak Group 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 Afarak Group - 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 Afarak Group Oyj to buy it.
The correlation of Afarak Group 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 Afarak Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Afarak Group Oyj 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 Afarak Group 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 Afarak Group Correlation, Afarak Group Volatility and Afarak Group Alpha and Beta module to complement your research on Afarak Group. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Complementary Tools for Afarak Stock analysis
When running Afarak Group's price analysis, check to measure Afarak Group'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 Afarak Group is operating at the current time. Most of Afarak Group's value examination focuses on studying past and present price action to predict the probability of Afarak Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Afarak Group's price. Additionally, you may evaluate how the addition of Afarak Group to your portfolios can decrease your overall portfolio volatility.
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Afarak Group 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.