Navamedic ASA (Norway) Market Value
| NAVA Stock | NOK 24.50 0.50 2.00% |
| Symbol | Navamedic |
Navamedic ASA '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 Navamedic ASA'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 Navamedic ASA.
| 09/05/2024 |
| 12/04/2024 |
If you would invest 0.00 in Navamedic ASA on September 5, 2024 and sell it all today you would earn a total of 0.00 from holding Navamedic ASA or generate 0.0% return on investment in Navamedic ASA over 90 days. Navamedic ASA is related to or competes with Photocure, Medistim ASA, PCI Biotech, Kitron ASA, and Goodtech. Navamedic ASA, a pharmaceutical company, develops, produces, markets, and sells pharmaceuticals and related products in ... More
Navamedic ASA 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 Navamedic ASA'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 Navamedic ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 19.87 | |||
| Value At Risk | (3.00) | |||
| Potential Upside | 2.99 |
Navamedic ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Navamedic ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Navamedic ASA's standard deviation. In reality, there are many statistical measures that can use Navamedic ASA historical prices to predict the future Navamedic ASA's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.60) | |||
| Treynor Ratio | (1.66) |
Navamedic ASA Backtested Returns
Navamedic ASA has Sharpe Ratio of -0.0361, which conveys that the firm had a -0.0361% return per unit of risk over the last 3 months. Navamedic ASA exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Navamedic ASA's Standard Deviation of 3.28, mean deviation of 1.75, and Risk Adjusted Performance of (0.03) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0928, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Navamedic ASA's returns are expected to increase less than the market. However, during the bear market, the loss of holding Navamedic ASA is expected to be smaller as well. At this point, Navamedic ASA has a negative expected return of -0.12%. Please make sure to verify Navamedic ASA's kurtosis, daily balance of power, and the relationship between the skewness and accumulation distribution , to decide if Navamedic ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
Navamedic ASA has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Navamedic ASA time series from 5th of September 2024 to 20th of October 2024 and 20th 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 Navamedic ASA price movement. The serial correlation of -0.77 indicates that around 77.0% of current Navamedic ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 7.72 |
Navamedic ASA lagged returns against current returns
Autocorrelation, which is Navamedic ASA 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 Navamedic ASA's stock expected returns. We can calculate the autocorrelation of Navamedic ASA returns to help us make a trade decision. For example, suppose you find that Navamedic ASA 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 |
Navamedic ASA 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 Navamedic ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Navamedic ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Navamedic ASA stock over time.
Current vs Lagged Prices |
| Timeline |
Navamedic ASA Lagged Returns
When evaluating Navamedic ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Navamedic ASA stock have on its future price. Navamedic ASA 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, Navamedic ASA autocorrelation shows the relationship between Navamedic ASA stock current value and its past values and can show if there is a momentum factor associated with investing in Navamedic ASA.
Regressed Prices |
| Timeline |
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Navamedic ASA financial ratios help investors to determine whether Navamedic 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 Navamedic with respect to the benefits of owning Navamedic ASA security.