Athens General (Greece) Market Value
| ATG Index | 1,449 0.88 0.06% |
| Symbol | Athens |
Athens General '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 Athens General's index 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 Athens General.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Athens General on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Athens General Composite or generate 0.0% return on investment in Athens General over 30 days.
Athens General 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 Athens General's index 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 Athens General Composite upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9262 | |||
| Information Ratio | 0.0407 | |||
| Maximum Drawdown | 3.94 | |||
| Value At Risk | (1.31) | |||
| Potential Upside | 1.29 |
Athens General Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Athens General's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Athens General's standard deviation. In reality, there are many statistical measures that can use Athens General historical prices to predict the future Athens General's volatility.| Risk Adjusted Performance | 0.0961 | |||
| Total Risk Alpha | 0.001 | |||
| Sortino Ratio | 0.0385 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Athens General'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.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Athens General. Your research has to be compared to or analyzed against Athens General's peers to derive any actionable benefits. When done correctly, Athens General's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Athens General Composite.
Athens General Composite Backtested Returns
Athens General Composite secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the index had a 0.12% return per unit of standard deviation over the last 3 months. We have found twenty-six technical indicators for Athens General Composite, which you can use to evaluate the volatility of the entity. The index shows a Beta (market volatility) of 0.0, which signifies not very significant fluctuations relative to the market. the returns on MARKET and Athens General are completely uncorrelated.
Auto-correlation | 0.87 |
Very good predictability
Athens General Composite has very good predictability. Overlapping area represents the amount of predictability between Athens General time series from 26th of March 2024 to 10th of April 2024 and 10th of April 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 Athens General Composite price movement. The serial correlation of 0.87 indicates that approximately 87.0% of current Athens General price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.87 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 689.79 |
Athens General Composite lagged returns against current returns
Autocorrelation, which is Athens General index'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 Athens General's index expected returns. We can calculate the autocorrelation of Athens General returns to help us make a trade decision. For example, suppose you find that Athens General has exhibited high autocorrelation historically, and you observe that the index 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 |
Athens General 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 Athens General index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Athens General index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Athens General index over time.
Current vs Lagged Prices |
| Timeline |
Athens General Lagged Returns
When evaluating Athens General's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Athens General index have on its future price. Athens General 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, Athens General autocorrelation shows the relationship between Athens General index current value and its past values and can show if there is a momentum factor associated with investing in Athens General Composite.
Regressed Prices |
| Timeline |
Pair Trading with Athens General
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 Athens General 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 Athens General will appreciate offsetting losses from the drop in the long position's value.Moving together with Athens Index
| 0.63 | EEE | Coca Cola HBC | PairCorr |
| 0.64 | OPAP | Greek Organization | PairCorr |
| 0.69 | EUROB | Eurobank Ergasias | PairCorr |
| 0.8 | ETE | National Bank | PairCorr |
The ability to find closely correlated positions to Athens General could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Athens General 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 Athens General - 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 Athens General Composite to buy it.
The correlation of Athens General 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 Athens General moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Athens General Composite 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 Athens General 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 Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any index could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Athens General technical index 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, index market cycles, or different charting patterns.