NEW MILLENNIUM's market value is the price at which a share of NEW MILLENNIUM trades on a public exchange. It measures the collective expectations of NEW MILLENNIUM IRON investors about its performance. NEW MILLENNIUM is trading at 7.95 as of the 4th of January 2025, a 7.43% increase since the beginning of the trading day. The stock's lowest day price was 7.95. With this module, you can estimate the performance of a buy and hold strategy of NEW MILLENNIUM IRON and determine expected loss or profit from investing in NEW MILLENNIUM over a given investment horizon. Check out NEW MILLENNIUM Correlation, NEW MILLENNIUM Volatility and NEW MILLENNIUM Alpha and Beta module to complement your research on NEW MILLENNIUM.
Please note, there is a significant difference between NEW MILLENNIUM's value and its price as these two are different measures arrived at by different means. Investors typically determine if NEW MILLENNIUM is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NEW MILLENNIUM's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
NEW MILLENNIUM '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 NEW MILLENNIUM'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 NEW MILLENNIUM.
0.00
11/05/2024
No Change 0.00
0.0
In 2 months and 2 days
01/04/2025
0.00
If you would invest 0.00 in NEW MILLENNIUM on November 5, 2024 and sell it all today you would earn a total of 0.00 from holding NEW MILLENNIUM IRON or generate 0.0% return on investment in NEW MILLENNIUM over 60 days. NEW MILLENNIUM is related to or competes with Apple, Apple, Apple, Apple, Microsoft, Microsoft, and Microsoft. More
NEW MILLENNIUM 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 NEW MILLENNIUM'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 NEW MILLENNIUM IRON 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 NEW MILLENNIUM's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NEW MILLENNIUM's standard deviation. In reality, there are many statistical measures that can use NEW MILLENNIUM historical prices to predict the future NEW MILLENNIUM's volatility.
At this point, NEW MILLENNIUM is somewhat reliable. NEW MILLENNIUM IRON has Sharpe Ratio of 0.0533, which conveys that the firm had a 0.0533% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for NEW MILLENNIUM, which you can use to evaluate the volatility of the firm. Please verify NEW MILLENNIUM's Risk Adjusted Performance of 0.0384, mean deviation of 1.89, and Market Risk Adjusted Performance of 0.1324 to check out if the risk estimate we provide is consistent with the expected return of 0.14%. NEW MILLENNIUM has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.74, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NEW MILLENNIUM's returns are expected to increase less than the market. However, during the bear market, the loss of holding NEW MILLENNIUM is expected to be smaller as well. NEW MILLENNIUM IRON currently secures a risk of 2.69%. Please verify NEW MILLENNIUM IRON sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to decide if NEW MILLENNIUM IRON will be following its current price movements.
Auto-correlation
0.06
Virtually no predictability
NEW MILLENNIUM IRON has virtually no predictability. Overlapping area represents the amount of predictability between NEW MILLENNIUM time series from 5th of November 2024 to 5th of December 2024 and 5th of December 2024 to 4th 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 NEW MILLENNIUM IRON price movement. The serial correlation of 0.06 indicates that barely 6.0% of current NEW MILLENNIUM price fluctuation can be explain by its past prices.
Correlation Coefficient
0.06
Spearman Rank Test
0.39
Residual Average
0.0
Price Variance
0.1
NEW MILLENNIUM IRON lagged returns against current returns
Autocorrelation, which is NEW MILLENNIUM 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 NEW MILLENNIUM's stock expected returns. We can calculate the autocorrelation of NEW MILLENNIUM returns to help us make a trade decision. For example, suppose you find that NEW MILLENNIUM 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
NEW MILLENNIUM 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 NEW MILLENNIUM stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NEW MILLENNIUM stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NEW MILLENNIUM stock over time.
Current vs Lagged Prices
Timeline
NEW MILLENNIUM Lagged Returns
When evaluating NEW MILLENNIUM's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NEW MILLENNIUM stock have on its future price. NEW MILLENNIUM 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, NEW MILLENNIUM autocorrelation shows the relationship between NEW MILLENNIUM stock current value and its past values and can show if there is a momentum factor associated with investing in NEW MILLENNIUM IRON.
Regressed Prices
Timeline
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.
NEW MILLENNIUM financial ratios help investors to determine whether NEW 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 NEW with respect to the benefits of owning NEW MILLENNIUM security.