Norwegian Air (Norway) Market Value
| NAS Stock | NOK 14.52 0.36 2.42% |
| Symbol | Norwegian |
Norwegian Air '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 Norwegian Air'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 Norwegian Air.
| 03/31/2024 |
| 04/30/2024 |
If you would invest 0.00 in Norwegian Air on March 31, 2024 and sell it all today you would earn a total of 0.00 from holding Norwegian Air Shuttle or generate 0.0% return on investment in Norwegian Air over 30 days. Norwegian Air is related to or competes with Danske Bank, Kongsberg Automotive, and Nel ASA. Norwegian Air Shuttle ASA, together with its subsidiaries, provides scheduled and charter airline services in Norway and... More
Norwegian Air 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 Norwegian Air'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 Norwegian Air Shuttle upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.28 | |||
| Information Ratio | 0.0631 | |||
| Maximum Drawdown | 17.38 | |||
| Value At Risk | (3.59) | |||
| Potential Upside | 4.61 |
Norwegian Air Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Norwegian Air's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Norwegian Air's standard deviation. In reality, there are many statistical measures that can use Norwegian Air historical prices to predict the future Norwegian Air's volatility.| Risk Adjusted Performance | 0.0674 | |||
| Jensen Alpha | 0.2414 | |||
| Total Risk Alpha | (0.1) | |||
| Sortino Ratio | 0.076 | |||
| Treynor Ratio | 1.77 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Norwegian Air'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.
Norwegian Air Shuttle Backtested Returns
Norwegian Air appears to be not too volatile, given 3 months investment horizon. Norwegian Air Shuttle has Sharpe Ratio of 0.0795, which conveys that the firm had a 0.0795% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Norwegian Air, which you can use to evaluate the volatility of the firm. Please exercise Norwegian Air's Downside Deviation of 2.28, mean deviation of 1.9, and Risk Adjusted Performance of 0.0674 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Norwegian Air holds a performance score of 6. The company secures a Beta (Market Risk) of 0.14, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Norwegian Air's returns are expected to increase less than the market. However, during the bear market, the loss of holding Norwegian Air is expected to be smaller as well. Please check Norwegian Air's skewness, day typical price, and the relationship between the downside variance and daily balance of power , to make a quick decision on whether Norwegian Air's current price movements will revert.
Auto-correlation | 0.58 |
Modest predictability
Norwegian Air Shuttle has modest predictability. Overlapping area represents the amount of predictability between Norwegian Air time series from 31st of March 2024 to 15th of April 2024 and 15th of April 2024 to 30th 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 Norwegian Air Shuttle price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Norwegian Air price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.36 |
Norwegian Air Shuttle lagged returns against current returns
Autocorrelation, which is Norwegian Air 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 Norwegian Air's stock expected returns. We can calculate the autocorrelation of Norwegian Air returns to help us make a trade decision. For example, suppose you find that Norwegian Air 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 |
Norwegian Air 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 Norwegian Air stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norwegian Air stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Norwegian Air stock over time.
Current vs Lagged Prices |
| Timeline |
Norwegian Air Lagged Returns
When evaluating Norwegian Air's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Norwegian Air stock have on its future price. Norwegian Air 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, Norwegian Air autocorrelation shows the relationship between Norwegian Air stock current value and its past values and can show if there is a momentum factor associated with investing in Norwegian Air Shuttle.
Regressed Prices |
| Timeline |
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When running Norwegian Air's price analysis, check to measure Norwegian Air'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 Norwegian Air is operating at the current time. Most of Norwegian Air's value examination focuses on studying past and present price action to predict the probability of Norwegian Air's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Norwegian Air's price. Additionally, you may evaluate how the addition of Norwegian Air to your portfolios can decrease your overall portfolio volatility.
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Norwegian Air 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.