NGG (Poland) Market Value
| NGG Stock | 0.03 0.0002 0.60% |
| Symbol | NGG |
NGG '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 NGG'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 NGG.
| 06/16/2024 |
| 12/13/2024 |
If you would invest 0.00 in NGG on June 16, 2024 and sell it all today you would earn a total of 0.00 from holding NGG or generate 0.0% return on investment in NGG over 180 days. NGG is related to or competes with Quantum Software, Skyline Investment, Carlson Investments, Ultimate Games, and Echo Investment. More
NGG 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 NGG'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 NGG upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 24.14 | |||
| Value At Risk | (7.78) | |||
| Potential Upside | 4.27 |
NGG Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NGG's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NGG's standard deviation. In reality, there are many statistical measures that can use NGG historical prices to predict the future NGG's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.55) | |||
| Total Risk Alpha | (1.00) | |||
| Treynor Ratio | (0.82) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NGG'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.
NGG Backtested Returns
NGG has Sharpe Ratio of -0.12, which conveys that the firm had a -0.12% return per unit of risk over the last 3 months. NGG exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify NGG's risk adjusted performance of (0.08), and Mean Deviation of 2.76 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.61, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NGG's returns are expected to increase less than the market. However, during the bear market, the loss of holding NGG is expected to be smaller as well. At this point, NGG has a negative expected return of -0.49%. Please make sure to verify NGG's total risk alpha and the relationship between the skewness and period momentum indicator , to decide if NGG performance from the past will be repeated in the future.
Auto-correlation | 0.30 |
Below average predictability
NGG has below average predictability. Overlapping area represents the amount of predictability between NGG time series from 16th of June 2024 to 14th of September 2024 and 14th of September 2024 to 13th 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 NGG price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current NGG price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.3 | |
| Spearman Rank Test | 0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
NGG lagged returns against current returns
Autocorrelation, which is NGG 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 NGG's stock expected returns. We can calculate the autocorrelation of NGG returns to help us make a trade decision. For example, suppose you find that NGG 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 |
NGG 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 NGG stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NGG stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NGG stock over time.
Current vs Lagged Prices |
| Timeline |
NGG Lagged Returns
When evaluating NGG's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NGG stock have on its future price. NGG 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, NGG autocorrelation shows the relationship between NGG stock current value and its past values and can show if there is a momentum factor associated with investing in NGG.
Regressed Prices |
| Timeline |
Pair Trading with NGG
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if NGG position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in NGG will appreciate offsetting losses from the drop in the long position's value.Moving together with NGG Stock
Moving against NGG Stock
The ability to find closely correlated positions to NGG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NGG when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NGG - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NGG to buy it.
The correlation of NGG is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NGG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NGG moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for NGG can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for NGG Stock Analysis
When running NGG's price analysis, check to measure NGG'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 NGG is operating at the current time. Most of NGG's value examination focuses on studying past and present price action to predict the probability of NGG's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NGG's price. Additionally, you may evaluate how the addition of NGG to your portfolios can decrease your overall portfolio volatility.