NEXA RESOURCES (Germany) Market Value
| NE0 Stock | EUR 7.25 0.05 0.69% |
| Symbol | NEXA |
NEXA RESOURCES '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 NEXA RESOURCES'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 NEXA RESOURCES.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in NEXA RESOURCES on June 5, 2024 and sell it all today you would earn a total of 0.00 from holding NEXA RESOURCES SA or generate 0.0% return on investment in NEXA RESOURCES over 180 days. NEXA RESOURCES is related to or competes with G-III Apparel, International Consolidated, URBAN OUTFITTERS, Gol Intelligent, and AEGEAN AIRLINES. Nexa Resources S.A., through its subsidiaries, engages in the zinc mining and smelting business More
NEXA RESOURCES 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 NEXA RESOURCES'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 NEXA RESOURCES SA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.19 | |||
| Information Ratio | 0.1447 | |||
| Maximum Drawdown | 8.48 | |||
| Value At Risk | (2.92) | |||
| Potential Upside | 4.0 |
NEXA RESOURCES Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NEXA RESOURCES's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NEXA RESOURCES's standard deviation. In reality, there are many statistical measures that can use NEXA RESOURCES historical prices to predict the future NEXA RESOURCES's volatility.| Risk Adjusted Performance | 0.1648 | |||
| Jensen Alpha | 0.4277 | |||
| Total Risk Alpha | 0.0785 | |||
| Sortino Ratio | 0.1457 | |||
| Treynor Ratio | 2.92 |
NEXA RESOURCES SA Backtested Returns
NEXA RESOURCES appears to be somewhat reliable, given 3 months investment horizon. NEXA RESOURCES SA has Sharpe Ratio of 0.23, which conveys that the firm had a 0.23% return per unit of standard deviation over the last 3 months. By inspecting NEXA RESOURCES's technical indicators, you can evaluate if the expected return of 0.51% is justified by implied risk. Please exercise NEXA RESOURCES's Mean Deviation of 1.77, market risk adjusted performance of 2.93, and Risk Adjusted Performance of 0.1648 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NEXA RESOURCES holds a performance score of 18. The company secures a Beta (Market Risk) of 0.15, which conveys not very significant fluctuations relative to the market. As returns on the market increase, NEXA RESOURCES's returns are expected to increase less than the market. However, during the bear market, the loss of holding NEXA RESOURCES is expected to be smaller as well. Please check NEXA RESOURCES's potential upside, semi variance, and the relationship between the value at risk and downside variance , to make a quick decision on whether NEXA RESOURCES's current price movements will revert.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
NEXA RESOURCES SA has almost perfect reverse predictability. Overlapping area represents the amount of predictability between NEXA RESOURCES time series from 5th of June 2024 to 3rd of September 2024 and 3rd of September 2024 to 2nd 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 NEXA RESOURCES SA price movement. The serial correlation of -0.72 indicates that around 72.0% of current NEXA RESOURCES price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 0.42 |
NEXA RESOURCES SA lagged returns against current returns
Autocorrelation, which is NEXA RESOURCES 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 NEXA RESOURCES's stock expected returns. We can calculate the autocorrelation of NEXA RESOURCES returns to help us make a trade decision. For example, suppose you find that NEXA RESOURCES 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 |
NEXA RESOURCES 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 NEXA RESOURCES stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NEXA RESOURCES stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NEXA RESOURCES stock over time.
Current vs Lagged Prices |
| Timeline |
NEXA RESOURCES Lagged Returns
When evaluating NEXA RESOURCES's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NEXA RESOURCES stock have on its future price. NEXA RESOURCES 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, NEXA RESOURCES autocorrelation shows the relationship between NEXA RESOURCES stock current value and its past values and can show if there is a momentum factor associated with investing in NEXA RESOURCES SA.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in NEXA Stock
When determining whether NEXA RESOURCES SA offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of NEXA RESOURCES's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Nexa Resources Sa Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Nexa Resources Sa Stock:Check out NEXA RESOURCES Correlation, NEXA RESOURCES Volatility and NEXA RESOURCES Alpha and Beta module to complement your research on NEXA RESOURCES. You can also try the Content Syndication module to quickly integrate customizable finance content to your own investment portal.
NEXA RESOURCES 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.