CROBEX (Croatia) Market Value

CRBEX Index   2,829  0.73  0.03%   
CROBEX's market value is the price at which a share of CROBEX trades on a public exchange. It measures the collective expectations of CROBEX investors about its performance. CROBEX is listed for 2829.10 as of the 26th of May 2024. This is a 0.03 percent increase since the beginning of the trading day. The index's open price was 2828.37.
With this module, you can estimate the performance of a buy and hold strategy of CROBEX and determine expected loss or profit from investing in CROBEX over a given investment horizon. 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 interest.

CROBEX '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 CROBEX'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 CROBEX.
No Change 0.00  0.0 
In 1 year 11 months and 22 days
If you would invest  0.00  in CROBEX on June 6, 2022 and sell it all today you would earn a total of 0.00 from holding CROBEX or generate 0.0% return on investment in CROBEX over 720 days.

CROBEX 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 CROBEX'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 CROBEX upside and downside potential and time the market with a certain degree of confidence.

CROBEX Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for CROBEX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CROBEX's standard deviation. In reality, there are many statistical measures that can use CROBEX historical prices to predict the future CROBEX's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CROBEX'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 CROBEX. Your research has to be compared to or analyzed against CROBEX's peers to derive any actionable benefits. When done correctly, CROBEX'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 CROBEX.

CROBEX Backtested Returns

CROBEX secures Sharpe Ratio (or Efficiency) of 0.0349, which signifies that the index had a 0.0349% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for CROBEX, 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 CROBEX are completely uncorrelated.



Good predictability

CROBEX has good predictability. Overlapping area represents the amount of predictability between CROBEX time series from 6th of June 2022 to 1st of June 2023 and 1st of June 2023 to 26th of May 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 CROBEX price movement. The serial correlation of 0.69 indicates that around 69.0% of current CROBEX price fluctuation can be explain by its past prices.
Correlation Coefficient0.69
Spearman Rank Test0.7
Residual Average0.0
Price Variance32.5 K

CROBEX lagged returns against current returns

Autocorrelation, which is CROBEX 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 CROBEX's index expected returns. We can calculate the autocorrelation of CROBEX returns to help us make a trade decision. For example, suppose you find that CROBEX 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   

CROBEX 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 CROBEX index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CROBEX index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CROBEX index over time.
   Current vs Lagged Prices   

CROBEX Lagged Returns

When evaluating CROBEX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CROBEX index have on its future price. CROBEX 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, CROBEX autocorrelation shows the relationship between CROBEX index current value and its past values and can show if there is a momentum factor associated with investing in CROBEX.
   Regressed Prices   

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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.
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 interest.
You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
CROBEX 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.
A focus of CROBEX technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of CROBEX trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...