Alzinova (Sweden) Market Value
| ALZ Stock | SEK 3.90 0.04 1.02% |
| Symbol | Alzinova |
Alzinova '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 Alzinova'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 Alzinova.
| 08/06/2024 |
| 12/04/2024 |
If you would invest 0.00 in Alzinova on August 6, 2024 and sell it all today you would earn a total of 0.00 from holding Alzinova AB or generate 0.0% return on investment in Alzinova over 120 days. Alzinova is related to or competes with AlzeCure Pharma, BioArctic, Cantargia, Diamyd Medical, and Saniona AB. More
Alzinova 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 Alzinova'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 Alzinova AB upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.03 | |||
| Information Ratio | 0.0042 | |||
| Maximum Drawdown | 15.37 | |||
| Value At Risk | (4.85) | |||
| Potential Upside | 5.36 |
Alzinova Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alzinova's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alzinova's standard deviation. In reality, there are many statistical measures that can use Alzinova historical prices to predict the future Alzinova's volatility.| Risk Adjusted Performance | 0.0388 | |||
| Jensen Alpha | 0.0032 | |||
| Total Risk Alpha | (0.30) | |||
| Sortino Ratio | 0.0043 | |||
| Treynor Ratio | 0.1063 |
Alzinova AB Backtested Returns
Currently, Alzinova AB is relatively risky. Alzinova AB secures Sharpe Ratio (or Efficiency) of 0.0502, which signifies that the company had a 0.0502% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Alzinova AB, which you can use to evaluate the volatility of the firm. Please confirm Alzinova's Mean Deviation of 2.31, risk adjusted performance of 0.0388, and Downside Deviation of 3.03 to double-check if the risk estimate we provide is consistent with the expected return of 0.15%. Alzinova has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.09, which signifies a somewhat significant risk relative to the market. Alzinova returns are very sensitive to returns on the market. As the market goes up or down, Alzinova is expected to follow. Alzinova AB right now shows a risk of 2.98%. Please confirm Alzinova AB skewness, and the relationship between the potential upside and rate of daily change , to decide if Alzinova AB will be following its price patterns.
Auto-correlation | 0.06 |
Virtually no predictability
Alzinova AB has virtually no predictability. Overlapping area represents the amount of predictability between Alzinova time series from 6th of August 2024 to 5th of October 2024 and 5th of October 2024 to 4th 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 Alzinova AB price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Alzinova price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Alzinova AB lagged returns against current returns
Autocorrelation, which is Alzinova 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 Alzinova's stock expected returns. We can calculate the autocorrelation of Alzinova returns to help us make a trade decision. For example, suppose you find that Alzinova 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 |
Alzinova 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 Alzinova stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alzinova stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alzinova stock over time.
Current vs Lagged Prices |
| Timeline |
Alzinova Lagged Returns
When evaluating Alzinova's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alzinova stock have on its future price. Alzinova 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, Alzinova autocorrelation shows the relationship between Alzinova stock current value and its past values and can show if there is a momentum factor associated with investing in Alzinova AB.
Regressed Prices |
| Timeline |
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Additional Tools for Alzinova Stock Analysis
When running Alzinova's price analysis, check to measure Alzinova'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 Alzinova is operating at the current time. Most of Alzinova's value examination focuses on studying past and present price action to predict the probability of Alzinova's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Alzinova's price. Additionally, you may evaluate how the addition of Alzinova to your portfolios can decrease your overall portfolio volatility.