Nordea North (Ireland) Market Value
| 0P0000G0PE | 478.21 0.00 0.00% |
| Symbol | Nordea |
Nordea North '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 Nordea North's fund 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 Nordea North.
| 12/10/2024 |
| 01/09/2025 |
If you would invest 0.00 in Nordea North on December 10, 2024 and sell it all today you would earn a total of 0.00 from holding Nordea North American or generate 0.0% return on investment in Nordea North over 30 days.
Nordea North 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 Nordea North's fund 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 Nordea North American upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.761 | |||
| Information Ratio | 0.0832 | |||
| Maximum Drawdown | 5.26 | |||
| Value At Risk | (1.23) | |||
| Potential Upside | 1.32 |
Nordea North Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nordea North's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nordea North's standard deviation. In reality, there are many statistical measures that can use Nordea North historical prices to predict the future Nordea North's volatility.| Risk Adjusted Performance | 0.0921 | |||
| Jensen Alpha | 0.0984 | |||
| Total Risk Alpha | 0.0715 | |||
| Sortino Ratio | 0.0964 | |||
| Treynor Ratio | (0.21) |
Nordea North American Backtested Returns
At this point, Nordea North is very steady. Nordea North American has Sharpe Ratio of 0.0901, which conveys that the entity had a 0.0901% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Nordea North, which you can use to evaluate the volatility of the fund. Please verify Nordea North's Mean Deviation of 0.6548, risk adjusted performance of 0.0921, and Downside Deviation of 0.761 to check out if the risk estimate we provide is consistent with the expected return of 0.0808%. The fund secures a Beta (Market Risk) of -0.43, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Nordea North are expected to decrease at a much lower rate. During the bear market, Nordea North is likely to outperform the market.
Auto-correlation | -0.31 |
Poor reverse predictability
Nordea North American has poor reverse predictability. Overlapping area represents the amount of predictability between Nordea North time series from 10th of December 2024 to 25th of December 2024 and 25th of December 2024 to 9th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Nordea North American price movement. The serial correlation of -0.31 indicates that nearly 31.0% of current Nordea North price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.31 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 10.83 |
Nordea North American lagged returns against current returns
Autocorrelation, which is Nordea North fund'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 Nordea North's fund expected returns. We can calculate the autocorrelation of Nordea North returns to help us make a trade decision. For example, suppose you find that Nordea North has exhibited high autocorrelation historically, and you observe that the fund 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 |
Nordea North 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 Nordea North fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nordea North fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nordea North fund over time.
Current vs Lagged Prices |
| Timeline |
Nordea North Lagged Returns
When evaluating Nordea North's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nordea North fund have on its future price. Nordea North 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, Nordea North autocorrelation shows the relationship between Nordea North fund current value and its past values and can show if there is a momentum factor associated with investing in Nordea North American.
Regressed Prices |
| Timeline |
Pair Trading with Nordea North
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 Nordea North 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 Nordea North will appreciate offsetting losses from the drop in the long position's value.Moving together with Nordea Fund
| 0.92 | IE00B065CV35 | Franklin Floating Rate | PairCorr |
| 0.9 | IE0032578035 | Franklin Floating Rate | PairCorr |
| 0.92 | IE00B000C709 | Franklin Floating Rate | PairCorr |
The ability to find closely correlated positions to Nordea North could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nordea North 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 Nordea North - 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 Nordea North American to buy it.
The correlation of Nordea North 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 Nordea North moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nordea North American 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 Nordea North 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.| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
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