NexGen Energy (Germany) Market Value
| 6NE Stock | EUR 6.86 0.46 6.28% |
| Symbol | NexGen |
NexGen Energy '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 NexGen Energy'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 NexGen Energy.
| 11/18/2024 |
| 12/18/2024 |
If you would invest 0.00 in NexGen Energy on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding NexGen Energy or generate 0.0% return on investment in NexGen Energy over 30 days. NexGen Energy is related to or competes with JSC National, Ur Energy, URANIUM ROYALTY, and Bannerman Resources. NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluatio... More
NexGen Energy 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 NexGen Energy'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 NexGen Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.68 | |||
| Information Ratio | 0.1141 | |||
| Maximum Drawdown | 20.07 | |||
| Value At Risk | (5.43) | |||
| Potential Upside | 8.22 |
NexGen Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NexGen Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NexGen Energy's standard deviation. In reality, there are many statistical measures that can use NexGen Energy historical prices to predict the future NexGen Energy's volatility.| Risk Adjusted Performance | 0.1028 | |||
| Jensen Alpha | 0.4984 | |||
| Total Risk Alpha | 0.2003 | |||
| Sortino Ratio | 0.1282 | |||
| Treynor Ratio | 0.9753 |
NexGen Energy Backtested Returns
NexGen Energy appears to be slightly risky, given 3 months investment horizon. NexGen Energy has Sharpe Ratio of 0.12, which conveys that the firm had a 0.12% return per unit of risk over the last 3 months. By analyzing NexGen Energy's technical indicators, you can evaluate if the expected return of 0.5% is justified by implied risk. Please exercise NexGen Energy's Mean Deviation of 3.26, risk adjusted performance of 0.1028, and Downside Deviation of 3.68 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NexGen Energy holds a performance score of 9. The company secures a Beta (Market Risk) of 0.54, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NexGen Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding NexGen Energy is expected to be smaller as well. Please check NexGen Energy's total risk alpha, treynor ratio, value at risk, as well as the relationship between the sortino ratio and maximum drawdown , to make a quick decision on whether NexGen Energy's current price movements will revert.
Auto-correlation | 0.35 |
Below average predictability
NexGen Energy has below average predictability. Overlapping area represents the amount of predictability between NexGen Energy time series from 18th of November 2024 to 3rd of December 2024 and 3rd of December 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 NexGen Energy price movement. The serial correlation of 0.35 indicates that nearly 35.0% of current NexGen Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.35 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
NexGen Energy lagged returns against current returns
Autocorrelation, which is NexGen Energy 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 NexGen Energy's stock expected returns. We can calculate the autocorrelation of NexGen Energy returns to help us make a trade decision. For example, suppose you find that NexGen Energy 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 |
NexGen Energy 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 NexGen Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NexGen Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NexGen Energy stock over time.
Current vs Lagged Prices |
| Timeline |
NexGen Energy Lagged Returns
When evaluating NexGen Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NexGen Energy stock have on its future price. NexGen Energy 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, NexGen Energy autocorrelation shows the relationship between NexGen Energy stock current value and its past values and can show if there is a momentum factor associated with investing in NexGen Energy.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in NexGen Stock
When determining whether NexGen Energy is a strong investment it is important to analyze NexGen Energy's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact NexGen Energy's future performance. For an informed investment choice regarding NexGen Stock, refer to the following important reports:Check out NexGen Energy Correlation, NexGen Energy Volatility and NexGen Energy Alpha and Beta module to complement your research on NexGen Energy. For more detail on how to invest in NexGen Stock please use our How to Invest in NexGen Energy guide.You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
NexGen Energy technical 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, stock market cycles, or different charting patterns.