Northern Ocean (Norway) Market Value
| NOL Stock | NOK 7.96 0.09 1.12% |
| Symbol | Northern |
Northern Ocean '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 Northern Ocean'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 Northern Ocean.
| 12/09/2024 |
| 01/08/2025 |
If you would invest 0.00 in Northern Ocean on December 9, 2024 and sell it all today you would earn a total of 0.00 from holding Northern Ocean or generate 0.0% return on investment in Northern Ocean over 30 days. Northern Ocean is related to or competes with Odfjell Drilling, Shelf Drilling, and Deep Value. Northern Ocean Ltd., together with its subsidiaries, provides offshore contract drilling services for the oil and gas in... More
Northern Ocean 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 Northern Ocean'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 Northern Ocean upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.78 | |||
| Information Ratio | 0.0739 | |||
| Maximum Drawdown | 19.31 | |||
| Value At Risk | (4.78) | |||
| Potential Upside | 4.84 |
Northern Ocean Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Northern Ocean's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Northern Ocean's standard deviation. In reality, there are many statistical measures that can use Northern Ocean historical prices to predict the future Northern Ocean's volatility.| Risk Adjusted Performance | 0.0745 | |||
| Jensen Alpha | 0.2494 | |||
| Total Risk Alpha | 0.1794 | |||
| Sortino Ratio | 0.0832 | |||
| Treynor Ratio | (30.77) |
Northern Ocean Backtested Returns
Northern Ocean appears to be slightly risky, given 3 months investment horizon. Northern Ocean has Sharpe Ratio of 0.0951, which conveys that the firm had a 0.0951% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Northern Ocean, which you can use to evaluate the volatility of the firm. Please exercise Northern Ocean's Mean Deviation of 2.12, risk adjusted performance of 0.0745, and Downside Deviation of 2.78 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Northern Ocean holds a performance score of 7. The company secures a Beta (Market Risk) of -0.0081, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Northern Ocean are expected to decrease at a much lower rate. During the bear market, Northern Ocean is likely to outperform the market. Please check Northern Ocean's skewness, day typical price, and the relationship between the downside variance and daily balance of power , to make a quick decision on whether Northern Ocean's current price movements will revert.
Auto-correlation | 0.15 |
Insignificant predictability
Northern Ocean has insignificant predictability. Overlapping area represents the amount of predictability between Northern Ocean time series from 9th of December 2024 to 24th of December 2024 and 24th of December 2024 to 8th of January 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 Northern Ocean price movement. The serial correlation of 0.15 indicates that less than 15.0% of current Northern Ocean price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.15 | |
| Spearman Rank Test | 0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Northern Ocean lagged returns against current returns
Autocorrelation, which is Northern Ocean 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 Northern Ocean's stock expected returns. We can calculate the autocorrelation of Northern Ocean returns to help us make a trade decision. For example, suppose you find that Northern Ocean 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 |
Northern Ocean 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 Northern Ocean stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Northern Ocean stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Northern Ocean stock over time.
Current vs Lagged Prices |
| Timeline |
Northern Ocean Lagged Returns
When evaluating Northern Ocean's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Northern Ocean stock have on its future price. Northern Ocean 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, Northern Ocean autocorrelation shows the relationship between Northern Ocean stock current value and its past values and can show if there is a momentum factor associated with investing in Northern Ocean.
Regressed Prices |
| Timeline |
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Northern Ocean financial ratios help investors to determine whether Northern 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 Northern with respect to the benefits of owning Northern Ocean security.