Nordea 1 (Ireland) Market Value
| 0P0000YK6S | 406.84 2.70 0.67% |
| Symbol | Nordea |
Nordea 1 '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 Nordea 1's fund 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 Nordea 1.
| 09/19/2024 |
| 12/18/2024 |
If you would invest 0.00 in Nordea 1 on September 19, 2024 and sell it all today you would earn a total of 0.00 from holding Nordea 1 or generate 0.0% return on investment in Nordea 1 over 90 days.
Nordea 1 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 Nordea 1's fund 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 Nordea 1 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.733 | |||
| Information Ratio | 0.037 | |||
| Maximum Drawdown | 3.75 | |||
| Value At Risk | (1.09) | |||
| Potential Upside | 1.35 |
Nordea 1 Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nordea 1's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nordea 1's standard deviation. In reality, there are many statistical measures that can use Nordea 1 historical prices to predict the future Nordea 1's volatility.| Risk Adjusted Performance | 0.0915 | |||
| Jensen Alpha | 0.0623 | |||
| Total Risk Alpha | 0.0251 | |||
| Sortino Ratio | 0.0387 | |||
| Treynor Ratio | 0.2087 |
Nordea 1 Backtested Returns
At this stage we consider Nordea Fund to be very steady. Nordea 1 has Sharpe Ratio of 0.14, which conveys that the entity had a 0.14% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nordea 1, which you can use to evaluate the volatility of the fund. Please verify Nordea 1's Downside Deviation of 0.733, mean deviation of 0.5827, and Risk Adjusted Performance of 0.0915 to check out if the risk estimate we provide is consistent with the expected return of 0.11%. The fund secures a Beta (Market Risk) of 0.41, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Nordea 1's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nordea 1 is expected to be smaller as well.
Auto-correlation | 0.85 |
Very good predictability
Nordea 1 has very good predictability. Overlapping area represents the amount of predictability between Nordea 1 time series from 19th of September 2024 to 3rd of November 2024 and 3rd of November 2024 to 18th of December 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 Nordea 1 price movement. The serial correlation of 0.85 indicates that around 85.0% of current Nordea 1 price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.85 | |
| Spearman Rank Test | 0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 41.82 |
Nordea 1 lagged returns against current returns
Autocorrelation, which is Nordea 1 fund'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 Nordea 1's fund expected returns. We can calculate the autocorrelation of Nordea 1 returns to help us make a trade decision. For example, suppose you find that Nordea 1 has exhibited high autocorrelation historically, and you observe that the fund 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 |
Nordea 1 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 Nordea 1 fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nordea 1 fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nordea 1 fund over time.
Current vs Lagged Prices |
| Timeline |
Nordea 1 Lagged Returns
When evaluating Nordea 1's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nordea 1 fund have on its future price. Nordea 1 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, Nordea 1 autocorrelation shows the relationship between Nordea 1 fund current value and its past values and can show if there is a momentum factor associated with investing in Nordea 1 .
Regressed Prices |
| Timeline |
Pair Trading with Nordea 1
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 Nordea 1 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 Nordea 1 will appreciate offsetting losses from the drop in the long position's value.Moving together with Nordea Fund
| 0.92 | IE00B065CV35 | Franklin Floating Rate | PairCorr |
| 0.92 | IE0032578035 | Franklin Floating Rate | PairCorr |
| 0.92 | IE00B000C709 | Franklin Floating Rate | PairCorr |
The ability to find closely correlated positions to Nordea 1 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nordea 1 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 Nordea 1 - 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 Nordea 1 to buy it.
The correlation of Nordea 1 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 Nordea 1 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nordea 1 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 Nordea 1 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.| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
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