Nexcom AS (Denmark) Market Value
| NEXCOM Stock | DKK 4.38 0.02 0.45% |
| Symbol | Nexcom |
Nexcom AS '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 Nexcom AS'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 Nexcom AS.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in Nexcom AS on June 5, 2024 and sell it all today you would earn a total of 0.00 from holding Nexcom AS or generate 0.0% return on investment in Nexcom AS over 180 days. Nexcom AS is related to or competes with Bactiquant, Penneo AS, Dataproces Group, and DecideAct. Nexcom AS, a software as a service company, engages in the development of software solutions for the automation of custo... More
Nexcom AS 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 Nexcom AS'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 Nexcom AS upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 8.63 | |||
| Information Ratio | 0.0193 | |||
| Maximum Drawdown | 49.4 | |||
| Value At Risk | (11.74) | |||
| Potential Upside | 15.87 |
Nexcom AS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nexcom AS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nexcom AS's standard deviation. In reality, there are many statistical measures that can use Nexcom AS historical prices to predict the future Nexcom AS's volatility.| Risk Adjusted Performance | 0.0358 | |||
| Jensen Alpha | 0.0543 | |||
| Total Risk Alpha | (1.17) | |||
| Sortino Ratio | 0.0196 | |||
| Treynor Ratio | 0.1562 |
Nexcom AS Backtested Returns
Nexcom AS appears to be dangerous, given 3 months investment horizon. Nexcom AS has Sharpe Ratio of 0.0413, which conveys that the firm had a 0.0413% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Nexcom AS, which you can use to evaluate the volatility of the firm. Please exercise Nexcom AS's Risk Adjusted Performance of 0.0358, downside deviation of 8.63, and Mean Deviation of 6.03 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Nexcom AS holds a performance score of 3. The company secures a Beta (Market Risk) of 1.9, which conveys 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, Nexcom AS will likely underperform. Please check Nexcom AS's semi variance, as well as the relationship between the daily balance of power and price action indicator , to make a quick decision on whether Nexcom AS's current price movements will revert.
Auto-correlation | 0.15 |
Insignificant predictability
Nexcom AS has insignificant predictability. Overlapping area represents the amount of predictability between Nexcom AS 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 Nexcom AS price movement. The serial correlation of 0.15 indicates that less than 15.0% of current Nexcom AS price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.15 | |
| Spearman Rank Test | -0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
Nexcom AS lagged returns against current returns
Autocorrelation, which is Nexcom AS 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 Nexcom AS's stock expected returns. We can calculate the autocorrelation of Nexcom AS returns to help us make a trade decision. For example, suppose you find that Nexcom AS 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 |
Nexcom AS 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 Nexcom AS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nexcom AS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nexcom AS stock over time.
Current vs Lagged Prices |
| Timeline |
Nexcom AS Lagged Returns
When evaluating Nexcom AS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nexcom AS stock have on its future price. Nexcom AS 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, Nexcom AS autocorrelation shows the relationship between Nexcom AS stock current value and its past values and can show if there is a momentum factor associated with investing in Nexcom AS.
Regressed Prices |
| Timeline |
Pair Trading with Nexcom AS
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 Nexcom AS 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 Nexcom AS will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Nexcom AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexcom AS 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 Nexcom AS - 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 Nexcom AS to buy it.
The correlation of Nexcom AS 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 Nexcom AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexcom AS 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 Nexcom AS 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.Other Information on Investing in Nexcom Stock
Nexcom AS financial ratios help investors to determine whether Nexcom 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 Nexcom with respect to the benefits of owning Nexcom AS security.