Goodyear Tire (Germany) Market Value
| GTR Stock | EUR 8.19 0.30 3.53% |
| Symbol | Goodyear |
Goodyear Tire '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 Goodyear Tire'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 Goodyear Tire.
| 01/02/2023 |
| 12/22/2024 |
If you would invest 0.00 in Goodyear Tire on January 2, 2023 and sell it all today you would earn a total of 0.00 from holding The Goodyear Tire or generate 0.0% return on investment in Goodyear Tire over 720 days. Goodyear Tire is related to or competes with Bridgestone, Advanced Drainage, Sumitomo Rubber, Zeon, Nokian Renkaat, and Essentra Plc. The Goodyear Tire Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires a... More
Goodyear Tire 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 Goodyear Tire'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 The Goodyear Tire upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.69 | |||
| Information Ratio | 0.0506 | |||
| Maximum Drawdown | 25.88 | |||
| Value At Risk | (3.65) | |||
| Potential Upside | 4.6 |
Goodyear Tire Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodyear Tire's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodyear Tire's standard deviation. In reality, there are many statistical measures that can use Goodyear Tire historical prices to predict the future Goodyear Tire's volatility.| Risk Adjusted Performance | 0.0553 | |||
| Jensen Alpha | 0.1638 | |||
| Total Risk Alpha | 0.0995 | |||
| Sortino Ratio | 0.0644 | |||
| Treynor Ratio | 0.1382 |
Goodyear Tire Backtested Returns
At this point, Goodyear Tire is somewhat reliable. Goodyear Tire holds Efficiency (Sharpe) Ratio of 0.0553, which attests that the entity had a 0.0553% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Goodyear Tire, which you can use to evaluate the volatility of the firm. Please check out Goodyear Tire's Market Risk Adjusted Performance of 0.1482, downside deviation of 2.69, and Risk Adjusted Performance of 0.0553 to validate if the risk estimate we provide is consistent with the expected return of 0.19%. Goodyear Tire has a performance score of 4 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 1.41, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Goodyear Tire will likely underperform. Goodyear Tire right now retains a risk of 3.42%. Please check out Goodyear Tire downside deviation, total risk alpha, value at risk, as well as the relationship between the information ratio and treynor ratio , to decide if Goodyear Tire will be following its current trending patterns.
Auto-correlation | -0.32 |
Poor reverse predictability
The Goodyear Tire has poor reverse predictability. Overlapping area represents the amount of predictability between Goodyear Tire time series from 2nd of January 2023 to 28th of December 2023 and 28th of December 2023 to 22nd 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 Goodyear Tire price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current Goodyear Tire price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.32 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 3.45 |
Goodyear Tire lagged returns against current returns
Autocorrelation, which is Goodyear Tire 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 Goodyear Tire's stock expected returns. We can calculate the autocorrelation of Goodyear Tire returns to help us make a trade decision. For example, suppose you find that Goodyear Tire 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 |
Goodyear Tire 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 Goodyear Tire stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodyear Tire stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodyear Tire stock over time.
Current vs Lagged Prices |
| Timeline |
Goodyear Tire Lagged Returns
When evaluating Goodyear Tire's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodyear Tire stock have on its future price. Goodyear Tire 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, Goodyear Tire autocorrelation shows the relationship between Goodyear Tire stock current value and its past values and can show if there is a momentum factor associated with investing in The Goodyear Tire.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Goodyear Stock
Goodyear Tire financial ratios help investors to determine whether Goodyear 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 Goodyear with respect to the benefits of owning Goodyear Tire security.