Embla Medical (Denmark) Market Value
| EMBLA Stock | 34.90 0.70 1.97% |
| Symbol | Embla |
Embla Medical '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 Embla Medical'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 Embla Medical.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in Embla Medical on June 5, 2024 and sell it all today you would earn a total of 0.00 from holding Embla Medical hf or generate 0.0% return on investment in Embla Medical over 180 days.
Embla Medical 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 Embla Medical'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 Embla Medical hf upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.23 | |||
| Information Ratio | 0.0917 | |||
| Maximum Drawdown | 6.03 | |||
| Value At Risk | (1.91) | |||
| Potential Upside | 2.58 |
Embla Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Embla Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Embla Medical's standard deviation. In reality, there are many statistical measures that can use Embla Medical historical prices to predict the future Embla Medical's volatility.| Risk Adjusted Performance | 0.1506 | |||
| Jensen Alpha | 0.2711 | |||
| Total Risk Alpha | 0.0235 | |||
| Sortino Ratio | 0.1027 | |||
| Treynor Ratio | (1.94) |
Embla Medical hf Backtested Returns
Embla Medical appears to be very steady, given 3 months investment horizon. Embla Medical hf secures Sharpe Ratio (or Efficiency) of 0.15, which denotes the company had a 0.15% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Embla Medical hf, which you can use to evaluate the volatility of the firm. Please utilize Embla Medical's Semi Deviation of 0.933, downside deviation of 1.23, and Mean Deviation of 1.15 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Embla Medical holds a performance score of 11. The firm shows a Beta (market volatility) of -0.13, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Embla Medical are expected to decrease at a much lower rate. During the bear market, Embla Medical is likely to outperform the market. Please check Embla Medical's mean deviation, standard deviation, treynor ratio, as well as the relationship between the downside deviation and total risk alpha , to make a quick decision on whether Embla Medical's price patterns will revert.
Auto-correlation | 0.79 |
Good predictability
Embla Medical hf has good predictability. Overlapping area represents the amount of predictability between Embla Medical time series from 5th of June 2024 to 3rd of September 2024 and 3rd of September 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 Embla Medical hf price movement. The serial correlation of 0.79 indicates that around 79.0% of current Embla Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.79 | |
| Spearman Rank Test | 0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 4.3 |
Embla Medical hf lagged returns against current returns
Autocorrelation, which is Embla Medical 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 Embla Medical's stock expected returns. We can calculate the autocorrelation of Embla Medical returns to help us make a trade decision. For example, suppose you find that Embla Medical 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 |
Embla Medical 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 Embla Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Embla Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Embla Medical stock over time.
Current vs Lagged Prices |
| Timeline |
Embla Medical Lagged Returns
When evaluating Embla Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Embla Medical stock have on its future price. Embla Medical 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, Embla Medical autocorrelation shows the relationship between Embla Medical stock current value and its past values and can show if there is a momentum factor associated with investing in Embla Medical hf.
Regressed Prices |
| Timeline |
Pair Trading with Embla Medical
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 Embla Medical 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 Embla Medical will appreciate offsetting losses from the drop in the long position's value.Moving together with Embla Stock
Moving against Embla Stock
| 0.91 | VWS | Vestas Wind Systems | PairCorr |
| 0.87 | NOVO-B | Novo Nordisk AS | PairCorr |
| 0.83 | GMAB | Genmab AS | PairCorr |
| 0.65 | CARL-B | Carlsberg AS | PairCorr |
| 0.53 | ORSTED | Orsted AS | PairCorr |
The ability to find closely correlated positions to Embla Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Embla Medical 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 Embla Medical - 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 Embla Medical hf to buy it.
The correlation of Embla Medical 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 Embla Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Embla Medical hf 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 Embla Medical 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.