Elisa Oyj Stock Market Value
ELMUF Stock | USD 44.29 0.00 0.00% |
Symbol | Elisa |
Elisa Oyj '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 Elisa Oyj's 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 Elisa Oyj.
03/28/2024 |
| 04/27/2024 |
If you would invest 0.00 in Elisa Oyj on March 28, 2024 and sell it all today you would earn a total of 0.00 from holding Elisa Oyj or generate 0.0% return on investment in Elisa Oyj over 30 days. Elisa Oyj is related to or competes with Osisko Metals, Mineral Res, IGO, Québec Nickel, Nickel Mines, Mineral Resources, and Mundoro Capital. Elisa Oyj provides data communications and digital services More
Elisa Oyj 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 Elisa Oyj's 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 Elisa Oyj upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.16) | |||
Maximum Drawdown | 26.5 |
Elisa Oyj Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elisa Oyj's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elisa Oyj's standard deviation. In reality, there are many statistical measures that can use Elisa Oyj historical prices to predict the future Elisa Oyj's volatility.Risk Adjusted Performance | (0.08) | |||
Jensen Alpha | (0.45) | |||
Total Risk Alpha | (0.88) | |||
Treynor Ratio | 2.06 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Elisa Oyj'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.
Elisa Oyj Backtested Returns
Elisa Oyj secures Sharpe Ratio (or Efficiency) of -0.0852, which denotes the company had a -0.0852% return per unit of risk over the last 3 months. Elisa Oyj exposes sixteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elisa Oyj's Standard Deviation of 3.32, mean deviation of 0.9454, and Variance of 10.99 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.22, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Elisa Oyj are expected to decrease at a much lower rate. During the bear market, Elisa Oyj is likely to outperform the market. Elisa Oyj has an expected return of -0.0546%. Please make sure to confirm Elisa Oyj coefficient of variation, treynor ratio, as well as the relationship between the Treynor Ratio and rate of daily change , to decide if Elisa Oyj performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.00 |
No correlation between past and present
Elisa Oyj has no correlation between past and present. Overlapping area represents the amount of predictability between Elisa Oyj time series from 28th of March 2024 to 12th of April 2024 and 12th of April 2024 to 27th 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 Elisa Oyj price movement. The serial correlation of 0.0 indicates that just 0.0% of current Elisa Oyj price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.0 | |
Spearman Rank Test | 1.0 | |
Residual Average | 0.0 | |
Price Variance | 0.11 |
Elisa Oyj lagged returns against current returns
Autocorrelation, which is Elisa Oyj 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 Elisa Oyj's pink sheet expected returns. We can calculate the autocorrelation of Elisa Oyj returns to help us make a trade decision. For example, suppose you find that Elisa Oyj 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 |
Elisa Oyj 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 Elisa Oyj pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elisa Oyj pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elisa Oyj pink sheet over time.
Current vs Lagged Prices |
Timeline |
Elisa Oyj Lagged Returns
When evaluating Elisa Oyj's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elisa Oyj pink sheet have on its future price. Elisa Oyj 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, Elisa Oyj autocorrelation shows the relationship between Elisa Oyj pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Elisa Oyj.
Regressed Prices |
Timeline |
Pair Trading with Elisa Oyj
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 Elisa Oyj 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 Elisa Oyj will appreciate offsetting losses from the drop in the long position's value.Moving against Elisa Pink Sheet
0.71 | META | Meta Platforms | PairCorr |
0.66 | AXP | American Express Financial Report 19th of July 2024 | PairCorr |
0.62 | AMZN | Amazon Inc Aggressive Push | PairCorr |
0.57 | NVDA | NVIDIA Buyout Trend | PairCorr |
0.52 | MRK | Merck Company Financial Report 6th of August 2024 | PairCorr |
The ability to find closely correlated positions to Elisa Oyj could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elisa Oyj 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 Elisa Oyj - 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 Elisa Oyj to buy it.
The correlation of Elisa Oyj 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 Elisa Oyj moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elisa Oyj 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 Elisa Oyj 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 Elisa Oyj Correlation, Elisa Oyj Volatility and Elisa Oyj Alpha and Beta module to complement your research on Elisa Oyj. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Complementary Tools for Elisa Pink Sheet analysis
When running Elisa Oyj's price analysis, check to measure Elisa Oyj'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 Elisa Oyj is operating at the current time. Most of Elisa Oyj's value examination focuses on studying past and present price action to predict the probability of Elisa Oyj's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elisa Oyj's price. Additionally, you may evaluate how the addition of Elisa Oyj to your portfolios can decrease your overall portfolio volatility.
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Elisa Oyj 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.