Goodyear Tire (Germany) Market Value
| GTR Stock | EUR 10.22 0.88 9.42% |
| Symbol | Goodyear |
Goodyear Tire '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 Goodyear Tire'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 Goodyear Tire.
| 10/08/2024 |
| 12/07/2024 |
If you would invest 0.00 in Goodyear Tire on October 8, 2024 and sell it all today you would earn a total of 0.00 from holding The Goodyear Tire or generate 0.0% return on investment in Goodyear Tire over 60 days. Goodyear Tire is related to or competes with EVS Broadcast, Air Transport, TITANIUM TRANSPORTGROUP, LION ONE, Kaiser Aluminum, International Consolidated, and Lion One. The Goodyear Tire Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires a... More
Goodyear Tire 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 Goodyear Tire'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 The Goodyear Tire upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.1 | |||
| Information Ratio | 0.14 | |||
| Maximum Drawdown | 20.46 | |||
| Value At Risk | (3.19) | |||
| Potential Upside | 4.49 |
Goodyear Tire Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodyear Tire's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodyear Tire's standard deviation. In reality, there are many statistical measures that can use Goodyear Tire historical prices to predict the future Goodyear Tire's volatility.| Risk Adjusted Performance | 0.1451 | |||
| Jensen Alpha | 0.3126 | |||
| Total Risk Alpha | 0.0179 | |||
| Sortino Ratio | 0.2053 | |||
| Treynor Ratio | 0.2945 |
Goodyear Tire Backtested Returns
Goodyear Tire appears to be somewhat reliable, given 3 months investment horizon. Goodyear Tire holds Efficiency (Sharpe) Ratio of 0.17, which attests that the entity had a 0.17% return per unit of risk over the last 3 months. By evaluating Goodyear Tire's technical indicators, you can evaluate if the expected return of 0.58% is justified by implied risk. Please utilize Goodyear Tire's Market Risk Adjusted Performance of 0.3045, risk adjusted performance of 0.1451, and Downside Deviation of 2.1 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Goodyear Tire holds a performance score of 13. The company retains a Market Volatility (i.e., Beta) of 1.91, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Goodyear Tire will likely underperform. Please check Goodyear Tire's total risk alpha, value at risk, and the relationship between the standard deviation and treynor ratio , to make a quick decision on whether Goodyear Tire's current trending patterns will revert.
Auto-correlation | 0.02 |
Virtually no predictability
The Goodyear Tire has virtually no predictability. Overlapping area represents the amount of predictability between Goodyear Tire time series from 8th of October 2024 to 7th of November 2024 and 7th of November 2024 to 7th 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 Goodyear Tire price movement. The serial correlation of 0.02 indicates that only 2.0% of current Goodyear Tire price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.4 |
Goodyear Tire lagged returns against current returns
Autocorrelation, which is Goodyear Tire 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 Goodyear Tire's stock expected returns. We can calculate the autocorrelation of Goodyear Tire returns to help us make a trade decision. For example, suppose you find that Goodyear Tire 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 |
Goodyear Tire 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 Goodyear Tire stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodyear Tire stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodyear Tire stock over time.
Current vs Lagged Prices |
| Timeline |
Goodyear Tire Lagged Returns
When evaluating Goodyear Tire's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodyear Tire stock have on its future price. Goodyear Tire 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, Goodyear Tire autocorrelation shows the relationship between Goodyear Tire stock current value and its past values and can show if there is a momentum factor associated with investing in The Goodyear Tire.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Goodyear Stock
Goodyear Tire financial ratios help investors to determine whether Goodyear Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Goodyear with respect to the benefits of owning Goodyear Tire security.