Hexagon Composites (Norway) Market Value
| HEX Stock | NOK 24.45 0.25 1.03% |
| Symbol | Hexagon |
Hexagon Composites '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 Hexagon Composites' 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 Hexagon Composites.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Hexagon Composites on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Hexagon Composites ASA or generate 0.0% return on investment in Hexagon Composites over 90 days. Hexagon Composites is related to or competes with Hexagon Purus, Nel ASA, Powercell Sweden, Tomra Systems, and Scatec Solar. Hexagon Composites ASA, together with its subsidiaries, designs, develops, manufactures, and sells composite pressure cy... More
Hexagon Composites 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 Hexagon Composites' 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 Hexagon Composites ASA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 16.85 | |||
| Value At Risk | (9.47) | |||
| Potential Upside | 3.22 |
Hexagon Composites Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hexagon Composites' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hexagon Composites' standard deviation. In reality, there are many statistical measures that can use Hexagon Composites historical prices to predict the future Hexagon Composites' volatility.| Risk Adjusted Performance | (0.23) | |||
| Jensen Alpha | (0.85) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | (1.67) |
Hexagon Composites ASA Backtested Returns
Hexagon Composites ASA holds Efficiency (Sharpe) Ratio of -0.27, which attests that the entity had a -0.27 % return per unit of risk over the last 3 months. Hexagon Composites ASA exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hexagon Composites' Risk Adjusted Performance of (0.23), standard deviation of 3.36, and Market Risk Adjusted Performance of (1.66) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.54, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Hexagon Composites' returns are expected to increase less than the market. However, during the bear market, the loss of holding Hexagon Composites is expected to be smaller as well. At this point, Hexagon Composites ASA has a negative expected return of -0.94%. Please make sure to check out Hexagon Composites' kurtosis, as well as the relationship between the rate of daily change and market facilitation index , to decide if Hexagon Composites ASA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.82 |
Very good predictability
Hexagon Composites ASA has very good predictability. Overlapping area represents the amount of predictability between Hexagon Composites time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 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 Hexagon Composites ASA price movement. The serial correlation of 0.82 indicates that around 82.0% of current Hexagon Composites price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 28.32 |
Hexagon Composites ASA lagged returns against current returns
Autocorrelation, which is Hexagon Composites 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 Hexagon Composites' stock expected returns. We can calculate the autocorrelation of Hexagon Composites returns to help us make a trade decision. For example, suppose you find that Hexagon Composites 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 |
Hexagon Composites 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 Hexagon Composites stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hexagon Composites stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hexagon Composites stock over time.
Current vs Lagged Prices |
| Timeline |
Hexagon Composites Lagged Returns
When evaluating Hexagon Composites' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hexagon Composites stock have on its future price. Hexagon Composites 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, Hexagon Composites autocorrelation shows the relationship between Hexagon Composites stock current value and its past values and can show if there is a momentum factor associated with investing in Hexagon Composites ASA.
Regressed Prices |
| Timeline |
Building efficient market-beating portfolios requires time, education, and a lot of computing power!
The Portfolio Architect is an AI-driven system that provides multiple benefits to our users by leveraging cutting-edge machine learning algorithms, statistical analysis, and predictive modeling to automate the process of asset selection and portfolio construction, saving time and reducing human error for individual and institutional investors.
Try AI Portfolio ArchitectOther Information on Investing in Hexagon Stock
Hexagon Composites financial ratios help investors to determine whether Hexagon 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 Hexagon with respect to the benefits of owning Hexagon Composites security.