Orexo AB (Sweden) Market Value
| ORX Stock | SEK 21.75 0.20 0.93% |
| Symbol | Orexo |
Orexo AB '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 Orexo AB'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 Orexo AB.
| 02/23/2024 |
| 05/23/2024 |
If you would invest 0.00 in Orexo AB on February 23, 2024 and sell it all today you would earn a total of 0.00 from holding Orexo AB or generate 0.0% return on investment in Orexo AB over 90 days. Orexo AB is related to or competes with BioInvent International, Alligator Bioscience, Swedish Orphan, and Anoto Group. Orexo AB , a specialty pharmaceutical company, develops products based on proprietary drug delivery technology More
Orexo AB 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 Orexo AB'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 Orexo AB upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.34 | |||
| Information Ratio | 0.2132 | |||
| Maximum Drawdown | 12.39 | |||
| Value At Risk | (3.92) | |||
| Potential Upside | 6.05 |
Orexo AB Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Orexo AB's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Orexo AB's standard deviation. In reality, there are many statistical measures that can use Orexo AB historical prices to predict the future Orexo AB's volatility.| Risk Adjusted Performance | 0.1471 | |||
| Jensen Alpha | 0.6398 | |||
| Total Risk Alpha | 0.3232 | |||
| Sortino Ratio | 0.2449 | |||
| Treynor Ratio | 26.08 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Orexo AB'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.
Orexo AB Backtested Returns
Orexo AB appears to be not too volatile, given 3 months investment horizon. Orexo AB maintains Sharpe Ratio (i.e., Efficiency) of 0.25, which implies the firm had a 0.25% return per unit of risk over the last 3 months. By analyzing Orexo AB's technical indicators, you can evaluate if the expected return of 0.71% is justified by implied risk. Please evaluate Orexo AB's Coefficient Of Variation of 412.91, semi deviation of 1.75, and Risk Adjusted Performance of 0.1471 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Orexo AB holds a performance score of 19. The company holds a Beta of 0.0246, which implies not very significant fluctuations relative to the market. As returns on the market increase, Orexo AB's returns are expected to increase less than the market. However, during the bear market, the loss of holding Orexo AB is expected to be smaller as well. Please check Orexo AB's jensen alpha, semi variance, day typical price, as well as the relationship between the maximum drawdown and accumulation distribution , to make a quick decision on whether Orexo AB's historical price patterns will revert.
Auto-correlation | 0.01 |
Virtually no predictability
Orexo AB has virtually no predictability. Overlapping area represents the amount of predictability between Orexo AB time series from 23rd of February 2024 to 8th of April 2024 and 8th of April 2024 to 23rd 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 Orexo AB price movement. The serial correlation of 0.01 indicates that just 1.0% of current Orexo AB price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.01 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 3.4 |
Orexo AB lagged returns against current returns
Autocorrelation, which is Orexo AB 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 Orexo AB's stock expected returns. We can calculate the autocorrelation of Orexo AB returns to help us make a trade decision. For example, suppose you find that Orexo AB 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 |
Orexo AB 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 Orexo AB stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Orexo AB stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Orexo AB stock over time.
Current vs Lagged Prices |
| Timeline |
Orexo AB Lagged Returns
When evaluating Orexo AB's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Orexo AB stock have on its future price. Orexo AB 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, Orexo AB autocorrelation shows the relationship between Orexo AB stock current value and its past values and can show if there is a momentum factor associated with investing in Orexo AB.
Regressed Prices |
| Timeline |
Pair Trading with Orexo AB
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 Orexo AB 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 Orexo AB will appreciate offsetting losses from the drop in the long position's value.Moving against Orexo Stock
| 0.61 | TERRNT-B | Terranet AB | PairCorr |
| 0.55 | POLY | PolyPlank publ AB | PairCorr |
| 0.53 | REALFI | Realfiction Holding | PairCorr |
The ability to find closely correlated positions to Orexo AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orexo AB 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 Orexo AB - 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 Orexo AB to buy it.
The correlation of Orexo AB 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 Orexo AB moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orexo AB 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 Orexo AB 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 Orexo AB Correlation, Orexo AB Volatility and Orexo AB Alpha and Beta module to complement your research on Orexo AB. You can also try the CEOs Directory module to screen CEOs from public companies around the world.
Complementary Tools for Orexo Stock analysis
When running Orexo AB's price analysis, check to measure Orexo AB'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 Orexo AB is operating at the current time. Most of Orexo AB's value examination focuses on studying past and present price action to predict the probability of Orexo AB's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Orexo AB's price. Additionally, you may evaluate how the addition of Orexo AB to your portfolios can decrease your overall portfolio volatility.
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Orexo AB 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.