Air New (Germany) Market Value
| BZU Stock | EUR 0.30 0.01 3.23% |
| Symbol | Air |
Air New '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 Air New'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 Air New.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Air New on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Air New Zealand or generate 0.0% return on investment in Air New over 30 days. Air New is related to or competes with Cardinal Health, Cogent Communications, Bausch Health, CLOVER HEALTH, National Health, and Gamma Communications. Air New Zealand Limited provides passenger and cargo transportation services on scheduled airlines primarily in New Zeal... More
Air New 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 Air New'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 Air New Zealand upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 15.28 | |||
| Value At Risk | (5.71) | |||
| Potential Upside | 6.06 |
Air New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Air New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Air New's standard deviation. In reality, there are many statistical measures that can use Air New historical prices to predict the future Air New's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.44) | |||
| Treynor Ratio | (0.57) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Air New'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.
Air New Zealand Backtested Returns
Air New Zealand secures Sharpe Ratio (or Efficiency) of -0.0399, which signifies that the company had a -0.0399% return per unit of risk over the last 3 months. Air New Zealand exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Air New's Mean Deviation of 1.97, risk adjusted performance of (0), and Standard Deviation of 2.97 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.11, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Air New's returns are expected to increase less than the market. However, during the bear market, the loss of holding Air New is expected to be smaller as well. Air New Zealand has an expected return of -0.11%. Please make sure to confirm Air New Zealand kurtosis, day typical price, and the relationship between the potential upside and rate of daily change , to decide if Air New Zealand performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.07 |
Very weak reverse predictability
Air New Zealand has very weak reverse predictability. Overlapping area represents the amount of predictability between Air New time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 to 24th 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 Air New Zealand price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Air New price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Air New Zealand lagged returns against current returns
Autocorrelation, which is Air New 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 Air New's stock expected returns. We can calculate the autocorrelation of Air New returns to help us make a trade decision. For example, suppose you find that Air New 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 |
Air New 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 Air New stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Air New stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Air New stock over time.
Current vs Lagged Prices |
| Timeline |
Air New Lagged Returns
When evaluating Air New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Air New stock have on its future price. Air New 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, Air New autocorrelation shows the relationship between Air New stock current value and its past values and can show if there is a momentum factor associated with investing in Air New Zealand.
Regressed Prices |
| Timeline |
Pair Trading with Air New
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 Air New 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 Air New will appreciate offsetting losses from the drop in the long position's value.Moving against Air Stock
| 0.44 | GOC | Star Diamond | PairCorr |
The ability to find closely correlated positions to Air New could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Air New 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 Air New - 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 Air New Zealand to buy it.
The correlation of Air New 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 Air New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Air New Zealand 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 Air New 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 Air New Correlation, Air New Volatility and Air New Alpha and Beta module to complement your research on Air New. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Complementary Tools for Air Stock analysis
When running Air New's price analysis, check to measure Air New'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 Air New is operating at the current time. Most of Air New's value examination focuses on studying past and present price action to predict the probability of Air New's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Air New's price. Additionally, you may evaluate how the addition of Air New to your portfolios can decrease your overall portfolio volatility.
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Air New 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.