Viohalco (Greece) Market Value
| VIO Stock | EUR 6.22 0.01 0.16% |
| Symbol | Viohalco |
Viohalco '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 Viohalco'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 Viohalco.
| 03/13/2024 |
| 06/11/2024 |
If you would invest 0.00 in Viohalco on March 13, 2024 and sell it all today you would earn a total of 0.00 from holding Viohalco SA or generate 0.0% return on investment in Viohalco over 90 days. Viohalco is related to or competes with Mermeren Kombinat, National Bank, EL D, Lampsa Hellenic, Selected Textiles, Eurobank Ergasias, and Vogiatzoglou Systems. Viohalco S.A., through its subsidiaries, manufactures and sells aluminium, copper, cables, and steel and steel pipe prod... More
Viohalco 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 Viohalco'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 Viohalco SA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.99 | |||
| Information Ratio | 0.0577 | |||
| Maximum Drawdown | 8.92 | |||
| Value At Risk | (3.33) | |||
| Potential Upside | 3.4 |
Viohalco Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Viohalco's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Viohalco's standard deviation. In reality, there are many statistical measures that can use Viohalco historical prices to predict the future Viohalco's volatility.| Risk Adjusted Performance | 0.046 | |||
| Jensen Alpha | 0.1152 | |||
| Total Risk Alpha | 0.1113 | |||
| Sortino Ratio | 0.0572 | |||
| Treynor Ratio | (0.49) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Viohalco'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.
Viohalco SA Backtested Returns
Viohalco appears to be somewhat reliable, given 3 months investment horizon. Viohalco SA owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.11, which indicates the firm had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Viohalco SA, which you can use to evaluate the volatility of the company. Please review Viohalco's Coefficient Of Variation of 1577.34, risk adjusted performance of 0.046, and Semi Deviation of 1.86 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Viohalco holds a performance score of 8. The entity has a beta of -0.24, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Viohalco are expected to decrease at a much lower rate. During the bear market, Viohalco is likely to outperform the market. Please check Viohalco's treynor ratio, value at risk, and the relationship between the sortino ratio and maximum drawdown , to make a quick decision on whether Viohalco's existing price patterns will revert.
Auto-correlation | -0.43 |
Modest reverse predictability
Viohalco SA has modest reverse predictability. Overlapping area represents the amount of predictability between Viohalco time series from 13th of March 2024 to 27th of April 2024 and 27th of April 2024 to 11th of June 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 Viohalco SA price movement. The serial correlation of -0.43 indicates that just about 43.0% of current Viohalco price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.43 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Viohalco SA lagged returns against current returns
Autocorrelation, which is Viohalco 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 Viohalco's stock expected returns. We can calculate the autocorrelation of Viohalco returns to help us make a trade decision. For example, suppose you find that Viohalco 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 |
Viohalco 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 Viohalco stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Viohalco stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Viohalco stock over time.
Current vs Lagged Prices |
| Timeline |
Viohalco Lagged Returns
When evaluating Viohalco's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Viohalco stock have on its future price. Viohalco 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, Viohalco autocorrelation shows the relationship between Viohalco stock current value and its past values and can show if there is a momentum factor associated with investing in Viohalco SA.
Regressed Prices |
| Timeline |
Pair Trading with Viohalco
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 Viohalco 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 Viohalco will appreciate offsetting losses from the drop in the long position's value.Moving together with Viohalco Stock
Moving against Viohalco Stock
The ability to find closely correlated positions to Viohalco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Viohalco 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 Viohalco - 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 Viohalco SA to buy it.
The correlation of Viohalco 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 Viohalco moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Viohalco SA 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 Viohalco 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.Additional Tools for Viohalco Stock Analysis
When running Viohalco's price analysis, check to measure Viohalco'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 Viohalco is operating at the current time. Most of Viohalco's value examination focuses on studying past and present price action to predict the probability of Viohalco's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Viohalco's price. Additionally, you may evaluate how the addition of Viohalco to your portfolios can decrease your overall portfolio volatility.