EWork Group (Sweden) Market Value
| EWRK Stock | SEK 140.00 2.80 2.04% |
| Symbol | EWork |
EWork Group '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 EWork Group'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 EWork Group.
| 02/25/2024 |
| 04/25/2024 |
If you would invest 0.00 in EWork Group on February 25, 2024 and sell it all today you would earn a total of 0.00 from holding eWork Group AB or generate 0.0% return on investment in EWork Group over 60 days. EWork Group is related to or competes with Enzymatica Publ, Polygiene, Sprint Bioscience, XMReality, and Enorama Pharma. Ework Group AB operates as a consultant supplier with focus on IT, telecom, technology, and business development in Swed... More
EWork Group 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 EWork Group'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 eWork Group AB upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 10.54 | |||
| Value At Risk | (2.76) | |||
| Potential Upside | 3.39 |
EWork Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EWork Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EWork Group's standard deviation. In reality, there are many statistical measures that can use EWork Group historical prices to predict the future EWork Group's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.36) | |||
| Treynor Ratio | (0.19) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of EWork Group'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.
eWork Group AB Backtested Returns
eWork Group AB secures Sharpe Ratio (or Efficiency) of -1.0E-4, which denotes the company had a -1.0E-4% return per unit of risk over the last 3 months. eWork Group AB exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EWork Group's Standard Deviation of 2.02, risk adjusted performance of (0.01), and Coefficient Of Variation of (2,890) to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.43, which means possible diversification benefits within a given portfolio. As returns on the market increase, EWork Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding EWork Group is expected to be smaller as well. eWork Group AB has an expected return of -3.0E-4%. Please make sure to confirm eWork Group AB maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if eWork Group AB performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.47 |
Average predictability
eWork Group AB has average predictability. Overlapping area represents the amount of predictability between EWork Group time series from 25th of February 2024 to 26th of March 2024 and 26th of March 2024 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 eWork Group AB price movement. The serial correlation of 0.47 indicates that about 47.0% of current EWork Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.47 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 10.05 |
eWork Group AB lagged returns against current returns
Autocorrelation, which is EWork Group 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 EWork Group's stock expected returns. We can calculate the autocorrelation of EWork Group returns to help us make a trade decision. For example, suppose you find that EWork Group 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 |
EWork Group 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 EWork Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EWork Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EWork Group stock over time.
Current vs Lagged Prices |
| Timeline |
EWork Group Lagged Returns
When evaluating EWork Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EWork Group stock have on its future price. EWork Group 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, EWork Group autocorrelation shows the relationship between EWork Group stock current value and its past values and can show if there is a momentum factor associated with investing in eWork Group AB.
Regressed Prices |
| Timeline |
Pair Trading with EWork Group
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 EWork Group 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 EWork Group will appreciate offsetting losses from the drop in the long position's value.Moving against EWork Stock
| 0.53 | ATCO-B | Atlas Copco AB | PairCorr |
| 0.52 | ATCO-A | Atlas Copco AB | PairCorr |
| 0.5 | VOLV-A | AB Volvo | PairCorr |
| 0.46 | VOLV-B | AB Volvo | PairCorr |
The ability to find closely correlated positions to EWork Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EWork Group 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 EWork Group - 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 eWork Group AB to buy it.
The correlation of EWork Group 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 EWork Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if eWork Group 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 EWork Group 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 EWork Group Correlation, EWork Group Volatility and EWork Group Alpha and Beta module to complement your research on EWork Group. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Complementary Tools for EWork Stock analysis
When running EWork Group's price analysis, check to measure EWork Group'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 EWork Group is operating at the current time. Most of EWork Group's value examination focuses on studying past and present price action to predict the probability of EWork Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EWork Group's price. Additionally, you may evaluate how the addition of EWork Group to your portfolios can decrease your overall portfolio volatility.
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EWork Group 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.