GOODTECH ASA (Germany) Market Value
| 6FO Stock | EUR 0.83 0.02 2.35% |
| Symbol | GOODTECH |
GOODTECH ASA '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 GOODTECH ASA'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 GOODTECH ASA.
| 12/18/2023 |
| 12/12/2024 |
If you would invest 0.00 in GOODTECH ASA on December 18, 2023 and sell it all today you would earn a total of 0.00 from holding GOODTECH ASA A or generate 0.0% return on investment in GOODTECH ASA over 360 days. GOODTECH ASA is related to or competes with Superior Plus, SIVERS SEMICONDUCTORS, Norsk Hydro, Reliance Steel, RYOHIN UNSPADR1, Vanguard Funds, and Meli Hotels. Goodtech ASA operates as an automation, power, and industrial engineering company in Norway, Sweden, Finland, Europe, an... More
GOODTECH ASA 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 GOODTECH ASA'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 GOODTECH ASA A upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 9.93 | |||
| Value At Risk | (3.12) | |||
| Potential Upside | 3.06 |
GOODTECH ASA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GOODTECH ASA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GOODTECH ASA's standard deviation. In reality, there are many statistical measures that can use GOODTECH ASA historical prices to predict the future GOODTECH ASA's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | (0.35) |
GOODTECH ASA A Backtested Returns
GOODTECH ASA A holds Efficiency (Sharpe) Ratio of -0.11, which attests that the entity had a -0.11% return per unit of volatility over the last 3 months. GOODTECH ASA A exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out GOODTECH ASA's risk adjusted performance of (0.05), and Market Risk Adjusted Performance of (0.34) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.46, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, GOODTECH ASA's returns are expected to increase less than the market. However, during the bear market, the loss of holding GOODTECH ASA is expected to be smaller as well. At this point, GOODTECH ASA A has a negative expected return of -0.22%. Please make sure to check out GOODTECH ASA's jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if GOODTECH ASA A performance from the past will be repeated at future time.
Auto-correlation | -0.82 |
Excellent reverse predictability
GOODTECH ASA A has excellent reverse predictability. Overlapping area represents the amount of predictability between GOODTECH ASA time series from 18th of December 2023 to 15th of June 2024 and 15th of June 2024 to 12th 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 GOODTECH ASA A price movement. The serial correlation of -0.82 indicates that around 82.0% of current GOODTECH ASA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.82 | |
| Spearman Rank Test | -0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
GOODTECH ASA A lagged returns against current returns
Autocorrelation, which is GOODTECH ASA 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 GOODTECH ASA's stock expected returns. We can calculate the autocorrelation of GOODTECH ASA returns to help us make a trade decision. For example, suppose you find that GOODTECH ASA 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 |
GOODTECH ASA 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 GOODTECH ASA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GOODTECH ASA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GOODTECH ASA stock over time.
Current vs Lagged Prices |
| Timeline |
GOODTECH ASA Lagged Returns
When evaluating GOODTECH ASA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GOODTECH ASA stock have on its future price. GOODTECH ASA 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, GOODTECH ASA autocorrelation shows the relationship between GOODTECH ASA stock current value and its past values and can show if there is a momentum factor associated with investing in GOODTECH ASA A.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in GOODTECH Stock
GOODTECH ASA financial ratios help investors to determine whether GOODTECH 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 GOODTECH with respect to the benefits of owning GOODTECH ASA security.