Evonik Industries Ag Stock Market Value
| EVKIF Stock | USD 19.45 0.00 0.00% |
| Symbol | Evonik |
Evonik Industries '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 Evonik Industries' pink sheet 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 Evonik Industries.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Evonik Industries on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Evonik Industries AG or generate 0.0% return on investment in Evonik Industries over 30 days. Evonik Industries is related to or competes with Avoca LLC, and AirBoss Of. Evonik Industries AG engages in the specialty chemicals business More
Evonik Industries 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 Evonik Industries' pink sheet 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 Evonik Industries AG upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 7.04 | |||
| Value At Risk | (0.32) |
Evonik Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Evonik Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Evonik Industries' standard deviation. In reality, there are many statistical measures that can use Evonik Industries historical prices to predict the future Evonik Industries' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.16) | |||
| Treynor Ratio | (0.25) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Evonik Industries' 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.
Evonik Industries Backtested Returns
We consider Evonik Industries very steady. Evonik Industries secures Sharpe Ratio (or Efficiency) of 0.0782, which denotes the company had a 0.0782% return per unit of risk over the last 3 months. We have found seventeen technical indicators for Evonik Industries AG, which you can use to evaluate the volatility of the firm. Please confirm Evonik Industries' Standard Deviation of 1.32, mean deviation of 0.3487, and Variance of 1.73 to check if the risk estimate we provide is consistent with the expected return of 0.0806%. Evonik Industries has a performance score of 6 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.15, which means not very significant fluctuations relative to the market. As returns on the market increase, Evonik Industries' returns are expected to increase less than the market. However, during the bear market, the loss of holding Evonik Industries is expected to be smaller as well. Evonik Industries right now shows a risk of 1.03%. Please confirm Evonik Industries variance, value at risk, as well as the relationship between the Value At Risk and day median price , to decide if Evonik Industries will be following its price patterns.
Auto-correlation | Huge |
Perfect predictability
Evonik Industries AG has perfect predictability. Overlapping area represents the amount of predictability between Evonik Industries time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Evonik Industries price movement. The serial correlation of 9.223372036854776E16 indicates that 9.223372036854776E16% of current Evonik Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | 92233.7 T | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Evonik Industries lagged returns against current returns
Autocorrelation, which is Evonik Industries pink sheet'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 Evonik Industries' pink sheet expected returns. We can calculate the autocorrelation of Evonik Industries returns to help us make a trade decision. For example, suppose you find that Evonik Industries has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Evonik Industries 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 Evonik Industries pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Evonik Industries pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Evonik Industries pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Evonik Industries Lagged Returns
When evaluating Evonik Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Evonik Industries pink sheet have on its future price. Evonik Industries 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, Evonik Industries autocorrelation shows the relationship between Evonik Industries pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Evonik Industries AG.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Evonik Industries in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Evonik Industries' short interest history, or implied volatility extrapolated from Evonik Industries options trading.
Pair Trading with Evonik Industries
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 Evonik Industries 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 Evonik Industries will appreciate offsetting losses from the drop in the long position's value.Moving against Evonik Pink Sheet
| 0.73 | TLK | Telkom Indonesia Tbk Financial Report 26th of April 2024 | PairCorr |
The ability to find closely correlated positions to Evonik Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evonik Industries 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 Evonik Industries - 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 Evonik Industries AG to buy it.
The correlation of Evonik Industries 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 Evonik Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evonik Industries 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 Evonik Industries 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 Evonik Industries Correlation, Evonik Industries Volatility and Evonik Industries Alpha and Beta module to complement your research on Evonik Industries. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Complementary Tools for Evonik Pink Sheet analysis
When running Evonik Industries' price analysis, check to measure Evonik Industries' 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 Evonik Industries is operating at the current time. Most of Evonik Industries' value examination focuses on studying past and present price action to predict the probability of Evonik Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Evonik Industries' price. Additionally, you may evaluate how the addition of Evonik Industries to your portfolios can decrease your overall portfolio volatility.
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Evonik Industries technical pink sheet 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, pink sheet market cycles, or different charting patterns.