Norsk Hydro Asa Stock Market Value
| NHYKF Stock | USD 6.49 0.18 2.85% |
| Symbol | Norsk |
Norsk Hydro '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 Norsk Hydro's otc 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 Norsk Hydro.
| 04/30/2022 |
| 04/19/2024 |
If you would invest 0.00 in Norsk Hydro on April 30, 2022 and sell it all today you would earn a total of 0.00 from holding Norsk Hydro ASA or generate 0.0% return on investment in Norsk Hydro over 720 days. Norsk Hydro is related to or competes with Constellium, Alumina Limited, Kaiser Aluminum, and Century Aluminum. Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, remelting, an... More
Norsk Hydro 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 Norsk Hydro's otc 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 Norsk Hydro ASA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.21 | |||
| Information Ratio | 0.0157 | |||
| Maximum Drawdown | 12.57 | |||
| Value At Risk | (3.81) | |||
| Potential Upside | 4.14 |
Norsk Hydro Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Norsk Hydro's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Norsk Hydro's standard deviation. In reality, there are many statistical measures that can use Norsk Hydro historical prices to predict the future Norsk Hydro's volatility.| Risk Adjusted Performance | 0.0337 | |||
| Jensen Alpha | 0.164 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0183 | |||
| Treynor Ratio | (0.09) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Norsk Hydro'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.
Norsk Hydro ASA Backtested Returns
Norsk Hydro appears to be slightly risky, given 3 months investment horizon. Norsk Hydro ASA has Sharpe Ratio of 0.11, which conveys that the firm had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Norsk Hydro, which you can use to evaluate the volatility of the firm. Please exercise Norsk Hydro's Mean Deviation of 2.0, downside deviation of 2.21, and Risk Adjusted Performance of 0.0337 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Norsk Hydro holds a performance score of 8. The company secures a Beta (Market Risk) of -1.11, which conveys a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning Norsk Hydro are expected to decrease slowly. On the other hand, during market turmoil, Norsk Hydro is expected to outperform it slightly. Please check Norsk Hydro's expected short fall, and the relationship between the value at risk and daily balance of power , to make a quick decision on whether Norsk Hydro's current price movements will revert.
Auto-correlation | 0.14 |
Insignificant predictability
Norsk Hydro ASA has insignificant predictability. Overlapping area represents the amount of predictability between Norsk Hydro time series from 30th of April 2022 to 25th of April 2023 and 25th of April 2023 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 Norsk Hydro ASA price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Norsk Hydro price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.24 |
Norsk Hydro ASA lagged returns against current returns
Autocorrelation, which is Norsk Hydro otc 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 Norsk Hydro's otc stock expected returns. We can calculate the autocorrelation of Norsk Hydro returns to help us make a trade decision. For example, suppose you find that Norsk Hydro has exhibited high autocorrelation historically, and you observe that the otc 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 |
Norsk Hydro 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 Norsk Hydro otc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Norsk Hydro otc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Norsk Hydro otc stock over time.
Current vs Lagged Prices |
| Timeline |
Norsk Hydro Lagged Returns
When evaluating Norsk Hydro's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Norsk Hydro otc stock have on its future price. Norsk Hydro 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, Norsk Hydro autocorrelation shows the relationship between Norsk Hydro otc stock current value and its past values and can show if there is a momentum factor associated with investing in Norsk Hydro ASA.
Regressed Prices |
| Timeline |
Building efficient market-beating portfolios requires time, education, and a lot of computing power!
The Portfolio Architect is an AI-driven system that provides multiple benefits to our users by leveraging cutting-edge machine learning algorithms, statistical analysis, and predictive modeling to automate the process of asset selection and portfolio construction, saving time and reducing human error for individual and institutional investors.
Try AI Portfolio ArchitectCheck out Norsk Hydro Correlation, Norsk Hydro Volatility and Norsk Hydro Alpha and Beta module to complement your research on Norsk Hydro. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Complementary Tools for Norsk OTC Stock analysis
When running Norsk Hydro's price analysis, check to measure Norsk Hydro'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 Norsk Hydro is operating at the current time. Most of Norsk Hydro's value examination focuses on studying past and present price action to predict the probability of Norsk Hydro's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Norsk Hydro's price. Additionally, you may evaluate how the addition of Norsk Hydro to your portfolios can decrease your overall portfolio volatility.
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |
Norsk Hydro technical otc 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, otc market cycles, or different charting patterns.