NorAm Drilling (Norway) Market Value
| NORAM Stock | 31.45 0.42 1.32% |
| Symbol | NorAm |
NorAm Drilling '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 NorAm Drilling'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 NorAm Drilling.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in NorAm Drilling on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding NorAm Drilling AS or generate 0.0% return on investment in NorAm Drilling over 90 days. NorAm Drilling is related to or competes with Grieg Seafood, Nordhealth, Jaeren Sparebank, Bien Sparebank, and BW Offshore. More
NorAm Drilling 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 NorAm Drilling'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 NorAm Drilling AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0065 | |||
| Maximum Drawdown | 9.34 | |||
| Value At Risk | (2.95) | |||
| Potential Upside | 4.04 |
NorAm Drilling Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NorAm Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NorAm Drilling's standard deviation. In reality, there are many statistical measures that can use NorAm Drilling historical prices to predict the future NorAm Drilling's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | 0.1665 | |||
| Treynor Ratio | (0.16) |
NorAm Drilling AS Backtested Returns
NorAm Drilling AS has Sharpe Ratio of -0.0113, which conveys that the firm had a -0.0113 % return per unit of risk over the last 3 months. NorAm Drilling exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify NorAm Drilling's Risk Adjusted Performance of (0.03), mean deviation of 1.65, and Standard Deviation of 2.09 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.6, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NorAm Drilling's returns are expected to increase less than the market. However, during the bear market, the loss of holding NorAm Drilling is expected to be smaller as well. At this point, NorAm Drilling AS has a negative expected return of -0.0241%. Please make sure to verify NorAm Drilling's kurtosis, as well as the relationship between the day median price and period momentum indicator , to decide if NorAm Drilling AS performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.21 |
Weak reverse predictability
NorAm Drilling AS has weak reverse predictability. Overlapping area represents the amount of predictability between NorAm Drilling 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 NorAm Drilling AS price movement. The serial correlation of -0.21 indicates that over 21.0% of current NorAm Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 0.59 |
NorAm Drilling AS lagged returns against current returns
Autocorrelation, which is NorAm Drilling 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 NorAm Drilling's stock expected returns. We can calculate the autocorrelation of NorAm Drilling returns to help us make a trade decision. For example, suppose you find that NorAm Drilling 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 |
NorAm Drilling 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 NorAm Drilling stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NorAm Drilling stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NorAm Drilling stock over time.
Current vs Lagged Prices |
| Timeline |
NorAm Drilling Lagged Returns
When evaluating NorAm Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NorAm Drilling stock have on its future price. NorAm Drilling 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, NorAm Drilling autocorrelation shows the relationship between NorAm Drilling stock current value and its past values and can show if there is a momentum factor associated with investing in NorAm Drilling AS.
Regressed Prices |
| Timeline |
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NorAm Drilling financial ratios help investors to determine whether NorAm 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 NorAm with respect to the benefits of owning NorAm Drilling security.