Otovo AS (Norway) Market Value
| OTOVO Stock | NOK 1.00 0.04 4.17% |
| Symbol | Otovo |
Otovo AS '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 Otovo AS'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 Otovo AS.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in Otovo AS on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding Otovo AS or generate 0.0% return on investment in Otovo AS over 720 days. Otovo AS is related to or competes with NorAm Drilling, Lery Seafood, Bien Sparebank, Sparebank, Romsdal Sparebank, SD Standard, and Sogn Sparebank. Otovo AS develops and supplies solar cells for private and corporate customers in Norway, Sweden, and Italy More
Otovo AS 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 Otovo AS'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 Otovo AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 37.56 | |||
| Value At Risk | (6.36) | |||
| Potential Upside | 8.04 |
Otovo AS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Otovo AS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Otovo AS's standard deviation. In reality, there are many statistical measures that can use Otovo AS historical prices to predict the future Otovo AS's volatility.| Risk Adjusted Performance | 0.006 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.89) | |||
| Treynor Ratio | 0.6876 |
Otovo AS Backtested Returns
Otovo AS maintains Sharpe Ratio (i.e., Efficiency) of -0.0086, which implies the firm had a -0.0086% return per unit of risk over the last 3 months. Otovo AS exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Otovo AS's Coefficient Of Variation of (30,442), variance of 26.63, and Risk Adjusted Performance of 0.006 to confirm the risk estimate we provide. The company holds a Beta of -0.0392, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Otovo AS are expected to decrease at a much lower rate. During the bear market, Otovo AS is likely to outperform the market. At this point, Otovo AS has a negative expected return of -0.0445%. Please make sure to check Otovo AS's treynor ratio, accumulation distribution, as well as the relationship between the Accumulation Distribution and price action indicator , to decide if Otovo AS performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.88 |
Very good predictability
Otovo AS has very good predictability. Overlapping area represents the amount of predictability between Otovo AS time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 to 1st 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 Otovo AS price movement. The serial correlation of 0.88 indicates that approximately 88.0% of current Otovo AS price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.88 | |
| Spearman Rank Test | 0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 0.51 |
Otovo AS lagged returns against current returns
Autocorrelation, which is Otovo AS 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 Otovo AS's stock expected returns. We can calculate the autocorrelation of Otovo AS returns to help us make a trade decision. For example, suppose you find that Otovo AS 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 |
Otovo AS 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 Otovo AS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Otovo AS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Otovo AS stock over time.
Current vs Lagged Prices |
| Timeline |
Otovo AS Lagged Returns
When evaluating Otovo AS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Otovo AS stock have on its future price. Otovo AS 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, Otovo AS autocorrelation shows the relationship between Otovo AS stock current value and its past values and can show if there is a momentum factor associated with investing in Otovo AS.
Regressed Prices |
| Timeline |
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Otovo AS financial ratios help investors to determine whether Otovo 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 Otovo with respect to the benefits of owning Otovo AS security.