Goodyear Tire (Germany) Market Value

GTR Stock  EUR 10.39  0.23  2.26%   
Goodyear Tire's market value is the price at which a share of Goodyear Tire trades on a public exchange. It measures the collective expectations of The Goodyear Tire investors about its performance. Goodyear Tire is trading at 10.39 as of the 4th of December 2024. This is a 2.26% up since the beginning of the trading day. The stock's lowest day price was 10.39.
With this module, you can estimate the performance of a buy and hold strategy of The Goodyear Tire and determine expected loss or profit from investing in Goodyear Tire over a given investment horizon. Check out Goodyear Tire Correlation, Goodyear Tire Volatility and Goodyear Tire Alpha and Beta module to complement your research on Goodyear Tire.
Symbol

Please note, there is a significant difference between Goodyear Tire's value and its price as these two are different measures arrived at by different means. Investors typically determine if Goodyear Tire is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Goodyear Tire's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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.
0.00
06/07/2024
No Change 0.00  0.0 
In 5 months and 30 days
12/04/2024
0.00
If you would invest  0.00  in Goodyear Tire on June 7, 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 180 days. Goodyear Tire is related to or competes with LIFENET INSURANCE, PICKN PAY, QBE Insurance, BURLINGTON STORES, HANOVER INSURANCE, and MARKET VECTR. 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.

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.
Hype
Prediction
LowEstimatedHigh
7.3010.3913.48
Details
Intrinsic
Valuation
LowRealHigh
6.429.5112.60
Details
Naive
Forecast
LowNextHigh
7.5610.6413.73
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
8.919.6210.32
Details

Goodyear Tire Backtested Returns

Goodyear Tire appears to be somewhat reliable, given 3 months investment horizon. Goodyear Tire holds Efficiency (Sharpe) Ratio of 0.2, which attests that the entity had a 0.2% 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 0.61% is justified by implied risk. Please utilize Goodyear Tire's Risk Adjusted Performance of 0.111, downside deviation of 2.49, and Market Risk Adjusted Performance of 0.2784 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 15. The company retains a Market Volatility (i.e., Beta) of 1.6, 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 downside deviation, total risk alpha, value at risk, as well as the relationship between the information ratio and treynor ratio , to make a quick decision on whether Goodyear Tire's current trending patterns will revert.

Auto-correlation

    
  -0.79  

Almost perfect reverse predictability

The Goodyear Tire has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Goodyear Tire time series from 7th of June 2024 to 5th of September 2024 and 5th of September 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 Goodyear Tire price movement. The serial correlation of -0.79 indicates that around 79.0% of current Goodyear Tire price fluctuation can be explain by its past prices.
Correlation Coefficient-0.79
Spearman Rank Test-0.51
Residual Average0.0
Price Variance0.9

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  

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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.