Tessenderlo (Belgium) Market Value
| TESB Stock | EUR 22.35 0.15 0.68% |
| Symbol | Tessenderlo |
Tessenderlo '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 Tessenderlo'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 Tessenderlo.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Tessenderlo on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Tessenderlo or generate 0.0% return on investment in Tessenderlo over 30 days. Tessenderlo is related to or competes with Ackermans Van, NV Bekaert, Groep Brussel, Tubize Fin, and EVS Broadcast. Tessenderlo Group NV, together with its subsidiaries, engages in the agriculture, valorizing bio-residuals, energy, and ... More
Tessenderlo 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 Tessenderlo'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 Tessenderlo upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 6.15 | |||
| Value At Risk | (1.84) | |||
| Potential Upside | 1.62 |
Tessenderlo Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tessenderlo's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tessenderlo's standard deviation. In reality, there are many statistical measures that can use Tessenderlo historical prices to predict the future Tessenderlo's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.37) | |||
| Treynor Ratio | (2.81) |
Tessenderlo Backtested Returns
Tessenderlo owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.12, which indicates the firm had a -0.12% return per unit of risk over the last 3 months. Tessenderlo exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tessenderlo's Risk Adjusted Performance of (0.10), variance of 1.37, and Coefficient Of Variation of (727.44) to confirm the risk estimate we provide. The entity has a beta of 0.0608, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Tessenderlo's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tessenderlo is expected to be smaller as well. At this point, Tessenderlo has a negative expected return of -0.14%. Please make sure to validate Tessenderlo's kurtosis, daily balance of power, and the relationship between the skewness and accumulation distribution , to decide if Tessenderlo performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.52 |
Modest predictability
Tessenderlo has modest predictability. Overlapping area represents the amount of predictability between Tessenderlo time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 Tessenderlo price movement. The serial correlation of 0.52 indicates that about 52.0% of current Tessenderlo price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.26 |
Tessenderlo lagged returns against current returns
Autocorrelation, which is Tessenderlo 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 Tessenderlo's stock expected returns. We can calculate the autocorrelation of Tessenderlo returns to help us make a trade decision. For example, suppose you find that Tessenderlo 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 |
Tessenderlo 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 Tessenderlo stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tessenderlo stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tessenderlo stock over time.
Current vs Lagged Prices |
| Timeline |
Tessenderlo Lagged Returns
When evaluating Tessenderlo's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tessenderlo stock have on its future price. Tessenderlo 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, Tessenderlo autocorrelation shows the relationship between Tessenderlo stock current value and its past values and can show if there is a momentum factor associated with investing in Tessenderlo.
Regressed Prices |
| Timeline |
Pair Trading with Tessenderlo
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 Tessenderlo 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 Tessenderlo will appreciate offsetting losses from the drop in the long position's value.Moving together with Tessenderlo Stock
The ability to find closely correlated positions to Tessenderlo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tessenderlo 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 Tessenderlo - 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 Tessenderlo to buy it.
The correlation of Tessenderlo 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 Tessenderlo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tessenderlo 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 Tessenderlo 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 Tessenderlo Stock Analysis
When running Tessenderlo's price analysis, check to measure Tessenderlo'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 Tessenderlo is operating at the current time. Most of Tessenderlo's value examination focuses on studying past and present price action to predict the probability of Tessenderlo's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tessenderlo's price. Additionally, you may evaluate how the addition of Tessenderlo to your portfolios can decrease your overall portfolio volatility.