Major Drilling (Germany) Market Value
| 3MJ Stock | EUR 5.65 0.10 1.74% |
| Symbol | Major |
Major Drilling '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 Major Drilling'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 Major Drilling.
| 11/18/2024 |
| 12/18/2024 |
If you would invest 0.00 in Major Drilling on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding Major Drilling Group or generate 0.0% return on investment in Major Drilling over 30 days. Major Drilling is related to or competes with BHP Group, Vale SA, Superior Plus, SIVERS SEMICONDUCTORS, Norsk Hydro, Reliance Steel, and RYOHIN UNSPADR1. Major Drilling Group International Inc. provides contract drilling services for mining and mineral exploration companies... More
Major Drilling 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 Major Drilling'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 Major Drilling Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.18 | |||
| Information Ratio | 0.0363 | |||
| Maximum Drawdown | 14.48 | |||
| Value At Risk | (2.68) | |||
| Potential Upside | 3.77 |
Major Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Major Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Major Drilling's standard deviation. In reality, there are many statistical measures that can use Major Drilling historical prices to predict the future Major Drilling's volatility.| Risk Adjusted Performance | 0.0543 | |||
| Jensen Alpha | 0.0983 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | 0.0387 | |||
| Treynor Ratio | 0.1877 |
Major Drilling Group Backtested Returns
Major Drilling appears to be somewhat reliable, given 3 months investment horizon. Major Drilling Group has Sharpe Ratio of 0.1, which conveys that the firm had a 0.1% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Major Drilling, which you can use to evaluate the volatility of the firm. Please exercise Major Drilling's Mean Deviation of 1.71, downside deviation of 2.18, and Risk Adjusted Performance of 0.0543 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Major Drilling holds a performance score of 8. The company secures a Beta (Market Risk) of 0.76, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Major Drilling's returns are expected to increase less than the market. However, during the bear market, the loss of holding Major Drilling is expected to be smaller as well. Please check Major Drilling's mean deviation, downside deviation, information ratio, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Major Drilling's current price movements will revert.
Auto-correlation | 0.46 |
Average predictability
Major Drilling Group has average predictability. Overlapping area represents the amount of predictability between Major Drilling time series from 18th of November 2024 to 3rd of December 2024 and 3rd of December 2024 to 18th of December 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 Major Drilling Group price movement. The serial correlation of 0.46 indicates that about 46.0% of current Major Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.46 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Major Drilling Group lagged returns against current returns
Autocorrelation, which is Major Drilling 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 Major Drilling's stock expected returns. We can calculate the autocorrelation of Major Drilling returns to help us make a trade decision. For example, suppose you find that Major Drilling 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 |
Major Drilling 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 Major Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Major Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Major Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
Major Drilling Lagged Returns
When evaluating Major Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Major Drilling stock have on its future price. Major Drilling 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, Major Drilling autocorrelation shows the relationship between Major Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in Major Drilling Group.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Major Stock
Major Drilling financial ratios help investors to determine whether Major Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Major with respect to the benefits of owning Major Drilling security.