Avance Gas (Norway) Market Value
| AGAS Stock | NOK 113.40 0.40 0.35% |
| Symbol | Avance |
Avance Gas '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 Avance Gas' 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 Avance Gas.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Avance Gas on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Avance Gas Holding or generate 0.0% return on investment in Avance Gas over 540 days. Avance Gas is related to or competes with BW LPG, Frontline, FLEX LNG, TORM Plc, and Golden Ocean. Avance Gas Holding Ltd, together with its subsidiaries, engages in the transportation of liquefied petroleum gas More
Avance Gas 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 Avance Gas' 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 Avance Gas Holding upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.51 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 9.42 | |||
| Value At Risk | (3.81) | |||
| Potential Upside | 3.49 |
Avance Gas Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Avance Gas' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Avance Gas' standard deviation. In reality, there are many statistical measures that can use Avance Gas historical prices to predict the future Avance Gas' volatility.| Risk Adjusted Performance | 0.0374 | |||
| Jensen Alpha | 0.1139 | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.29) |
Avance Gas Holding Backtested Returns
As of now, Avance Stock is very steady. Avance Gas Holding secures Sharpe Ratio (or Efficiency) of 0.0353, which signifies that the company had a 0.0353% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for Avance Gas Holding, which you can use to evaluate the volatility of the firm. Please confirm Avance Gas' risk adjusted performance of 0.0374, and Mean Deviation of 1.83 to double-check if the risk estimate we provide is consistent with the expected return of 0.0815%. Avance Gas has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.28, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Avance Gas are expected to decrease at a much lower rate. During the bear market, Avance Gas is likely to outperform the market. Avance Gas Holding right now shows a risk of 2.31%. Please confirm Avance Gas Holding market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if Avance Gas Holding will be following its price patterns.
Auto-correlation | -0.07 |
Very weak reverse predictability
Avance Gas Holding has very weak reverse predictability. Overlapping area represents the amount of predictability between Avance Gas time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th of November 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 Avance Gas Holding price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Avance Gas price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 424.9 |
Avance Gas Holding lagged returns against current returns
Autocorrelation, which is Avance Gas 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 Avance Gas' stock expected returns. We can calculate the autocorrelation of Avance Gas returns to help us make a trade decision. For example, suppose you find that Avance Gas 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 |
Avance Gas 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 Avance Gas stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Avance Gas stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Avance Gas stock over time.
Current vs Lagged Prices |
| Timeline |
Avance Gas Lagged Returns
When evaluating Avance Gas' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Avance Gas stock have on its future price. Avance Gas 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, Avance Gas autocorrelation shows the relationship between Avance Gas stock current value and its past values and can show if there is a momentum factor associated with investing in Avance Gas Holding.
Regressed Prices |
| Timeline |
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Avance Gas financial ratios help investors to determine whether Avance 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 Avance with respect to the benefits of owning Avance Gas security.