NorAm Drilling (Norway) Market Value
| NORAM Stock | 33.70 0.20 0.59% |
| 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.
| 02/02/2025 |
| 03/04/2025 |
If you would invest 0.00 in NorAm Drilling on February 2, 2025 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 30 days. NorAm Drilling is related to or competes with Goodtech, Odfjell Technology, Golden Energy, Nordic Mining, 5Th Planet, Dolphin Drilling, and Arcticzymes Technologies. 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.
| Downside Deviation | 1.74 | |||
| Information Ratio | 0.0343 | |||
| Maximum Drawdown | 8.09 | |||
| Value At Risk | (2.71) | |||
| Potential Upside | 4.07 |
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 | 0.0131 | |||
| Jensen Alpha | 0.0501 | |||
| Total Risk Alpha | 0.1712 | |||
| Sortino Ratio | 0.0395 | |||
| Treynor Ratio | 0.0123 |
NorAm Drilling AS Backtested Returns
As of now, NorAm Stock is very steady. NorAm Drilling AS has Sharpe Ratio of 0.0105, which conveys that the firm had a 0.0105 % return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for NorAm Drilling, which you can use to evaluate the volatility of the firm. Please verify NorAm Drilling's Risk Adjusted Performance of 0.0131, mean deviation of 1.58, and Downside Deviation of 1.74 to check out if the risk estimate we provide is consistent with the expected return of 0.0217%. The company secures a Beta (Market Risk) of 0.69, 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. NorAm Drilling AS right now secures a risk of 2.06%. Please verify NorAm Drilling AS expected short fall, and the relationship between the value at risk and daily balance of power , to decide if NorAm Drilling AS will be following its current price movements.
Auto-correlation | -0.15 |
Insignificant reverse predictability
NorAm Drilling AS has insignificant reverse predictability. Overlapping area represents the amount of predictability between NorAm Drilling time series from 2nd of February 2025 to 17th of February 2025 and 17th of February 2025 to 4th 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 -0.15 indicates that less than 15.0% of current NorAm Drilling price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | 0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
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.