Eidesvik Offshore (Norway) Market Value
| EIOF Stock | NOK 15.74 0.06 0.38% |
| Symbol | Eidesvik |
Eidesvik Offshore '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 Eidesvik Offshore'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 Eidesvik Offshore.
| 04/07/2024 |
| 05/07/2024 |
If you would invest 0.00 in Eidesvik Offshore on April 7, 2024 and sell it all today you would earn a total of 0.00 from holding Eidesvik Offshore ASA or generate 0.0% return on investment in Eidesvik Offshore over 30 days. Eidesvik Offshore is related to or competes with Solstad Offsho, Havila Shipping, Siem Offshore, Prosafe SE, and BW Offshore. Eidesvik Offshore ASA, a shipping company, operates ships in the supply, seismic, and subsea business areas More
Eidesvik Offshore 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 Eidesvik Offshore'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 Eidesvik Offshore ASA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.58 | |||
| Information Ratio | 0.1368 | |||
| Maximum Drawdown | 9.81 | |||
| Value At Risk | (2.25) | |||
| Potential Upside | 3.29 |
Eidesvik Offshore Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eidesvik Offshore's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eidesvik Offshore's standard deviation. In reality, there are many statistical measures that can use Eidesvik Offshore historical prices to predict the future Eidesvik Offshore's volatility.| Risk Adjusted Performance | 0.1204 | |||
| Jensen Alpha | 0.3194 | |||
| Total Risk Alpha | 0.1183 | |||
| Sortino Ratio | 0.142 | |||
| Treynor Ratio | (0.63) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Eidesvik Offshore'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.
Eidesvik Offshore ASA Backtested Returns
Eidesvik Offshore appears to be not too volatile, given 3 months investment horizon. Eidesvik Offshore ASA secures Sharpe Ratio (or Efficiency) of 0.2, which denotes the company had a 0.2% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for Eidesvik Offshore ASA, which you can use to evaluate the volatility of the firm. Please utilize Eidesvik Offshore's Downside Deviation of 1.58, semi deviation of 1.13, and Mean Deviation of 1.16 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Eidesvik Offshore holds a performance score of 15. The firm shows a Beta (market volatility) of -0.46, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Eidesvik Offshore are expected to decrease at a much lower rate. During the bear market, Eidesvik Offshore is likely to outperform the market. Please check Eidesvik Offshore's downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Eidesvik Offshore's price patterns will revert.
Auto-correlation | -0.36 |
Poor reverse predictability
Eidesvik Offshore ASA has poor reverse predictability. Overlapping area represents the amount of predictability between Eidesvik Offshore time series from 7th of April 2024 to 22nd of April 2024 and 22nd of April 2024 to 7th 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 Eidesvik Offshore ASA price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Eidesvik Offshore price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 0.21 |
Eidesvik Offshore ASA lagged returns against current returns
Autocorrelation, which is Eidesvik Offshore 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 Eidesvik Offshore's stock expected returns. We can calculate the autocorrelation of Eidesvik Offshore returns to help us make a trade decision. For example, suppose you find that Eidesvik Offshore 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 |
Eidesvik Offshore 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 Eidesvik Offshore stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eidesvik Offshore stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eidesvik Offshore stock over time.
Current vs Lagged Prices |
| Timeline |
Eidesvik Offshore Lagged Returns
When evaluating Eidesvik Offshore's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eidesvik Offshore stock have on its future price. Eidesvik Offshore 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, Eidesvik Offshore autocorrelation shows the relationship between Eidesvik Offshore stock current value and its past values and can show if there is a momentum factor associated with investing in Eidesvik Offshore ASA.
Regressed Prices |
| Timeline |
Pair Trading with Eidesvik Offshore
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 Eidesvik Offshore 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 Eidesvik Offshore will appreciate offsetting losses from the drop in the long position's value.Moving against Eidesvik Stock
| 0.77 | RIVER | River Tech plc | PairCorr |
| 0.68 | IOX | Interoil Exploration and | PairCorr |
| 0.59 | CONTX | ContextVision AB | PairCorr |
| 0.5 | AZT | Arcticzymes Technologies | PairCorr |
| 0.5 | EMGS | Electromagnetic Geoservices | PairCorr |
The ability to find closely correlated positions to Eidesvik Offshore could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eidesvik Offshore 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 Eidesvik Offshore - 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 Eidesvik Offshore ASA to buy it.
The correlation of Eidesvik Offshore 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 Eidesvik Offshore moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eidesvik Offshore 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 Eidesvik Offshore 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 Eidesvik Offshore Correlation, Eidesvik Offshore Volatility and Eidesvik Offshore Alpha and Beta module to complement your research on Eidesvik Offshore. You can also try the Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Complementary Tools for Eidesvik Stock analysis
When running Eidesvik Offshore's price analysis, check to measure Eidesvik Offshore'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 Eidesvik Offshore is operating at the current time. Most of Eidesvik Offshore's value examination focuses on studying past and present price action to predict the probability of Eidesvik Offshore's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eidesvik Offshore's price. Additionally, you may evaluate how the addition of Eidesvik Offshore to your portfolios can decrease your overall portfolio volatility.
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Eidesvik Offshore 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.