Nordic Mining (Norway) Market Value
| NOM Stock | NOK 25.09 0.61 2.49% |
| Symbol | Nordic |
Nordic Mining '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 Nordic Mining'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 Nordic Mining.
| 09/05/2024 |
| 12/04/2024 |
If you would invest 0.00 in Nordic Mining on September 5, 2024 and sell it all today you would earn a total of 0.00 from holding Nordic Mining ASA or generate 0.0% return on investment in Nordic Mining over 90 days. Nordic Mining is related to or competes with Elkem ASA, Integrated Wind, Vow ASA, North Energy, Axactor SE, Arcticzymes Technologies, and Eqva ASA. Nordic Mining ASA, together with its subsidiaries, engages in the exploration, extraction, and production of industrial ... More
Nordic Mining 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 Nordic Mining'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 Nordic Mining ASA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.08 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 9.53 | |||
| Value At Risk | (3.47) | |||
| Potential Upside | 3.13 |
Nordic Mining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nordic Mining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nordic Mining's standard deviation. In reality, there are many statistical measures that can use Nordic Mining historical prices to predict the future Nordic Mining's volatility.| Risk Adjusted Performance | 0.0449 | |||
| Jensen Alpha | 0.0976 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (1.33) |
Nordic Mining ASA Backtested Returns
As of now, Nordic Stock is very steady. Nordic Mining ASA has Sharpe Ratio of 0.0678, which conveys that the firm had a 0.0678% return per unit of risk over the last 3 months. We have found thirty technical indicators for Nordic Mining, which you can use to evaluate the volatility of the firm. Please verify Nordic Mining's Risk Adjusted Performance of 0.0449, downside deviation of 2.08, and Mean Deviation of 1.48 to check out if the risk estimate we provide is consistent with the expected return of 0.13%. Nordic Mining has a performance score of 5 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.0682, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nordic Mining are expected to decrease at a much lower rate. During the bear market, Nordic Mining is likely to outperform the market. Nordic Mining ASA right now secures a risk of 1.96%. Please verify Nordic Mining ASA skewness, day typical price, and the relationship between the downside variance and daily balance of power , to decide if Nordic Mining ASA will be following its current price movements.
Auto-correlation | -0.59 |
Good reverse predictability
Nordic Mining ASA has good reverse predictability. Overlapping area represents the amount of predictability between Nordic Mining 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 Nordic Mining ASA price movement. The serial correlation of -0.59 indicates that roughly 59.0% of current Nordic Mining price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.59 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.49 |
Nordic Mining ASA lagged returns against current returns
Autocorrelation, which is Nordic Mining 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 Nordic Mining's stock expected returns. We can calculate the autocorrelation of Nordic Mining returns to help us make a trade decision. For example, suppose you find that Nordic Mining 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 |
Nordic Mining 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 Nordic Mining stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nordic Mining stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nordic Mining stock over time.
Current vs Lagged Prices |
| Timeline |
Nordic Mining Lagged Returns
When evaluating Nordic Mining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nordic Mining stock have on its future price. Nordic Mining 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, Nordic Mining autocorrelation shows the relationship between Nordic Mining stock current value and its past values and can show if there is a momentum factor associated with investing in Nordic Mining ASA.
Regressed Prices |
| Timeline |
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Nordic Mining financial ratios help investors to determine whether Nordic 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 Nordic with respect to the benefits of owning Nordic Mining security.