Promimic (Sweden) Market Value
| PRO Stock | 26.40 1.10 4.00% |
| Symbol | Promimic |
Promimic '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 Promimic'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 Promimic.
| 11/11/2024 |
| 12/11/2024 |
If you would invest 0.00 in Promimic on November 11, 2024 and sell it all today you would earn a total of 0.00 from holding Promimic AB or generate 0.0% return on investment in Promimic over 30 days. Promimic is related to or competes with OssDsign, ADDvise Group, Paxman AB, and MilDef Group. More
Promimic 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 Promimic'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 Promimic AB upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 23.96 | |||
| Value At Risk | (5.19) | |||
| Potential Upside | 7.2 |
Promimic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Promimic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Promimic's standard deviation. In reality, there are many statistical measures that can use Promimic historical prices to predict the future Promimic's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.36) | |||
| Total Risk Alpha | (0.94) | |||
| Treynor Ratio | 2.82 |
Promimic AB Backtested Returns
Promimic AB maintains Sharpe Ratio (i.e., Efficiency) of -0.1, which implies the firm had a -0.1% return per unit of risk over the last 3 months. Promimic AB exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Promimic's Coefficient Of Variation of (984.41), risk adjusted performance of (0.07), and Variance of 12.77 to confirm the risk estimate we provide. The company holds a Beta of -0.13, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Promimic are expected to decrease at a much lower rate. During the bear market, Promimic is likely to outperform the market. At this point, Promimic AB has a negative expected return of -0.37%. Please make sure to check Promimic's jensen alpha, skewness, as well as the relationship between the Skewness and day median price , to decide if Promimic AB performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.27 |
Poor predictability
Promimic AB has poor predictability. Overlapping area represents the amount of predictability between Promimic time series from 11th of November 2024 to 26th of November 2024 and 26th of November 2024 to 11th 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 Promimic AB price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current Promimic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.27 | |
| Spearman Rank Test | 0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 1.14 |
Promimic AB lagged returns against current returns
Autocorrelation, which is Promimic 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 Promimic's stock expected returns. We can calculate the autocorrelation of Promimic returns to help us make a trade decision. For example, suppose you find that Promimic 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 |
Promimic 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 Promimic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Promimic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Promimic stock over time.
Current vs Lagged Prices |
| Timeline |
Promimic Lagged Returns
When evaluating Promimic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Promimic stock have on its future price. Promimic 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, Promimic autocorrelation shows the relationship between Promimic stock current value and its past values and can show if there is a momentum factor associated with investing in Promimic AB.
Regressed Prices |
| Timeline |
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Additional Tools for Promimic Stock Analysis
When running Promimic's price analysis, check to measure Promimic'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 Promimic is operating at the current time. Most of Promimic's value examination focuses on studying past and present price action to predict the probability of Promimic's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Promimic's price. Additionally, you may evaluate how the addition of Promimic to your portfolios can decrease your overall portfolio volatility.