Aerodrome (Israel) Market Value
| APLY Stock | ILA 90.00 6.60 6.83% |
| Symbol | Aerodrome |
Aerodrome '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 Aerodrome'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 Aerodrome.
| 05/06/2022 |
| 04/25/2024 |
If you would invest 0.00 in Aerodrome on May 6, 2022 and sell it all today you would earn a total of 0.00 from holding Aerodrome Group or generate 0.0% return on investment in Aerodrome over 720 days. Aerodrome is related to or competes with Partner, Tower Semiconductor, and Israel Discount. Aerodrome Group Ltd operates as a digital performance marketing company More
Aerodrome 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 Aerodrome'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 Aerodrome Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.48 | |||
| Information Ratio | 0.1039 | |||
| Maximum Drawdown | 27.86 | |||
| Value At Risk | (6.06) | |||
| Potential Upside | 13.57 |
Aerodrome Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Aerodrome's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aerodrome's standard deviation. In reality, there are many statistical measures that can use Aerodrome historical prices to predict the future Aerodrome's volatility.| Risk Adjusted Performance | 0.0845 | |||
| Jensen Alpha | 0.7342 | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | 0.1627 | |||
| Treynor Ratio | (0.67) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Aerodrome'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.
Aerodrome Group Backtested Returns
Aerodrome appears to be very steady, given 3 months investment horizon. Aerodrome Group secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the company had a 0.12% return per unit of risk over the last 3 months. By analyzing Aerodrome's technical indicators, you can evaluate if the expected return of 0.56% is justified by implied risk. Please makes use of Aerodrome's Mean Deviation of 4.0, downside deviation of 3.48, and Risk Adjusted Performance of 0.0845 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Aerodrome holds a performance score of 9. The firm shows a Beta (market volatility) of -0.98, which signifies possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Aerodrome are expected to decrease slowly. On the other hand, during market turmoil, Aerodrome is expected to outperform it slightly. Please check Aerodrome's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Aerodrome's price patterns will revert.
Auto-correlation | -0.67 |
Very good reverse predictability
Aerodrome Group has very good reverse predictability. Overlapping area represents the amount of predictability between Aerodrome time series from 6th of May 2022 to 1st of May 2023 and 1st of May 2023 to 25th 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 Aerodrome Group price movement. The serial correlation of -0.67 indicates that around 67.0% of current Aerodrome price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.67 | |
| Spearman Rank Test | -0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 338.54 |
Aerodrome Group lagged returns against current returns
Autocorrelation, which is Aerodrome 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 Aerodrome's stock expected returns. We can calculate the autocorrelation of Aerodrome returns to help us make a trade decision. For example, suppose you find that Aerodrome 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 |
Aerodrome 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 Aerodrome stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aerodrome stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aerodrome stock over time.
Current vs Lagged Prices |
| Timeline |
Aerodrome Lagged Returns
When evaluating Aerodrome's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aerodrome stock have on its future price. Aerodrome 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, Aerodrome autocorrelation shows the relationship between Aerodrome stock current value and its past values and can show if there is a momentum factor associated with investing in Aerodrome Group.
Regressed Prices |
| Timeline |
Pair Trading with Aerodrome
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 Aerodrome 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 Aerodrome will appreciate offsetting losses from the drop in the long position's value.Moving against Aerodrome Stock
| 0.43 | MZTF | Mizrahi Tefahot | PairCorr |
The ability to find closely correlated positions to Aerodrome could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aerodrome 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 Aerodrome - 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 Aerodrome Group to buy it.
The correlation of Aerodrome 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 Aerodrome moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aerodrome Group 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 Aerodrome 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 Aerodrome Correlation, Aerodrome Volatility and Aerodrome Alpha and Beta module to complement your research on Aerodrome. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Complementary Tools for Aerodrome Stock analysis
When running Aerodrome's price analysis, check to measure Aerodrome'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 Aerodrome is operating at the current time. Most of Aerodrome's value examination focuses on studying past and present price action to predict the probability of Aerodrome's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Aerodrome's price. Additionally, you may evaluate how the addition of Aerodrome to your portfolios can decrease your overall portfolio volatility.
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Aerodrome 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.