NEM INSURANCE (Nigeria) Market Value
| NEM Stock | 10.70 0.95 9.74% |
| Symbol | NEM |
NEM INSURANCE '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 NEM INSURANCE'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 NEM INSURANCE.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in NEM INSURANCE on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding NEM INSURANCE PLC or generate 0.0% return on investment in NEM INSURANCE over 30 days.
NEM INSURANCE 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 NEM INSURANCE'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 NEM INSURANCE PLC upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.29 | |||
| Information Ratio | 0.1509 | |||
| Maximum Drawdown | 18.21 | |||
| Value At Risk | (2.47) | |||
| Potential Upside | 8.5 |
NEM INSURANCE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NEM INSURANCE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NEM INSURANCE's standard deviation. In reality, there are many statistical measures that can use NEM INSURANCE historical prices to predict the future NEM INSURANCE's volatility.| Risk Adjusted Performance | 0.1461 | |||
| Jensen Alpha | 0.6043 | |||
| Total Risk Alpha | 0.0914 | |||
| Sortino Ratio | 0.1072 | |||
| Treynor Ratio | (2.24) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NEM INSURANCE's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
NEM INSURANCE PLC Backtested Returns
NEM INSURANCE appears to be somewhat reliable, given 3 months investment horizon. NEM INSURANCE PLC has Sharpe Ratio of 0.2, which conveys that the firm had a 0.2% return per unit of volatility over the last 3 months. By evaluating NEM INSURANCE's technical indicators, you can evaluate if the expected return of 0.62% is justified by implied risk. Please exercise NEM INSURANCE's mean deviation of 1.84, and Risk Adjusted Performance of 0.1461 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NEM INSURANCE holds a performance score of 15. The company secures a Beta (Market Risk) of -0.26, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NEM INSURANCE are expected to decrease at a much lower rate. During the bear market, NEM INSURANCE is likely to outperform the market. Please check NEM INSURANCE's downside variance, and the relationship between the treynor ratio and kurtosis , to make a quick decision on whether NEM INSURANCE's current price movements will revert.
Auto-correlation | -0.03 |
Very weak reverse predictability
NEM INSURANCE PLC has very weak reverse predictability. Overlapping area represents the amount of predictability between NEM INSURANCE time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 NEM INSURANCE PLC price movement. The serial correlation of -0.03 indicates that only 3.0% of current NEM INSURANCE price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | 0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 0.41 |
NEM INSURANCE PLC lagged returns against current returns
Autocorrelation, which is NEM INSURANCE 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 NEM INSURANCE's stock expected returns. We can calculate the autocorrelation of NEM INSURANCE returns to help us make a trade decision. For example, suppose you find that NEM INSURANCE 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 |
NEM INSURANCE 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 NEM INSURANCE stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NEM INSURANCE stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NEM INSURANCE stock over time.
Current vs Lagged Prices |
| Timeline |
NEM INSURANCE Lagged Returns
When evaluating NEM INSURANCE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NEM INSURANCE stock have on its future price. NEM INSURANCE 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, NEM INSURANCE autocorrelation shows the relationship between NEM INSURANCE stock current value and its past values and can show if there is a momentum factor associated with investing in NEM INSURANCE PLC.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for NEM Stock Analysis
When running NEM INSURANCE's price analysis, check to measure NEM INSURANCE'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 NEM INSURANCE is operating at the current time. Most of NEM INSURANCE's value examination focuses on studying past and present price action to predict the probability of NEM INSURANCE's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NEM INSURANCE's price. Additionally, you may evaluate how the addition of NEM INSURANCE to your portfolios can decrease your overall portfolio volatility.