RenaissanceRe Holdings' market value is the price at which a share of RenaissanceRe Holdings trades on a public exchange. It measures the collective expectations of RenaissanceRe Holdings investors about its performance. RenaissanceRe Holdings is trading at 17.38 as of the 18th of December 2024. This is a 0.93% up since the beginning of the trading day. The preferred stock's lowest day price was 17.11. With this module, you can estimate the performance of a buy and hold strategy of RenaissanceRe Holdings and determine expected loss or profit from investing in RenaissanceRe Holdings over a given investment horizon. Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
RenaissanceRe
RenaissanceRe Holdings '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 RenaissanceRe Holdings' preferred 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 RenaissanceRe Holdings.
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11/18/2024
No Change 0.00
0.0
In 30 days
12/18/2024
0.00
If you would invest 0.00 in RenaissanceRe Holdings on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding RenaissanceRe Holdings or generate 0.0% return on investment in RenaissanceRe Holdings over 30 days.
RenaissanceRe Holdings 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 RenaissanceRe Holdings' preferred 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 RenaissanceRe Holdings upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for RenaissanceRe Holdings' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as RenaissanceRe Holdings' standard deviation. In reality, there are many statistical measures that can use RenaissanceRe Holdings historical prices to predict the future RenaissanceRe Holdings' volatility.
RenaissanceRe Holdings maintains Sharpe Ratio (i.e., Efficiency) of -0.11, which implies the firm had a -0.11% return per unit of risk over the last 3 months. RenaissanceRe Holdings exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check RenaissanceRe Holdings' Variance of 0.7213, risk adjusted performance of (0.06), and Coefficient Of Variation of (1,139) to confirm the risk estimate we provide. The company holds a Beta of 0.0681, which implies not very significant fluctuations relative to the market. As returns on the market increase, RenaissanceRe Holdings' returns are expected to increase less than the market. However, during the bear market, the loss of holding RenaissanceRe Holdings is expected to be smaller as well. At this point, RenaissanceRe Holdings has a negative expected return of -0.0955%. Please make sure to check RenaissanceRe Holdings' accumulation distribution, and the relationship between the potential upside and day median price , to decide if RenaissanceRe Holdings performance from the past will be repeated at some point in the near future.
Auto-correlation
-0.64
Very good reverse predictability
RenaissanceRe Holdings has very good reverse predictability. Overlapping area represents the amount of predictability between RenaissanceRe Holdings time series from 18th of November 2024 to 3rd of December 2024 and 3rd of December 2024 to 18th 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 RenaissanceRe Holdings price movement. The serial correlation of -0.64 indicates that roughly 64.0% of current RenaissanceRe Holdings price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.64
Spearman Rank Test
-0.46
Residual Average
0.0
Price Variance
0.05
RenaissanceRe Holdings lagged returns against current returns
Autocorrelation, which is RenaissanceRe Holdings preferred 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 RenaissanceRe Holdings' preferred stock expected returns. We can calculate the autocorrelation of RenaissanceRe Holdings returns to help us make a trade decision. For example, suppose you find that RenaissanceRe Holdings has exhibited high autocorrelation historically, and you observe that the preferred 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
RenaissanceRe Holdings 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 RenaissanceRe Holdings preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if RenaissanceRe Holdings preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in RenaissanceRe Holdings preferred stock over time.
Current vs Lagged Prices
Timeline
RenaissanceRe Holdings Lagged Returns
When evaluating RenaissanceRe Holdings' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of RenaissanceRe Holdings preferred stock have on its future price. RenaissanceRe Holdings 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, RenaissanceRe Holdings autocorrelation shows the relationship between RenaissanceRe Holdings preferred stock current value and its past values and can show if there is a momentum factor associated with investing in RenaissanceRe Holdings.