Goodyear Tire Rubber Market Value
| 382550BF7 | 98.10 1.18 1.19% |
| Symbol | Goodyear |
Goodyear '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 Goodyear's bond 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 Goodyear.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Goodyear on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Goodyear Tire Rubber or generate 0.0% return on investment in Goodyear over 30 days. Goodyear is related to or competes with Atmos Energy, Air Lease, Antero Midstream, Cebu Air, Archrock, and Pure Cycle. More
Goodyear 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 Goodyear's bond 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 Goodyear Tire Rubber upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 4.31 | |||
| Value At Risk | (0.60) | |||
| Potential Upside | 0.7195 |
Goodyear Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodyear's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodyear's standard deviation. In reality, there are many statistical measures that can use Goodyear historical prices to predict the future Goodyear's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.11) | |||
| Treynor Ratio | 0.2346 |
Goodyear Tire Rubber Backtested Returns
Goodyear Tire Rubber holds Efficiency (Sharpe) Ratio of -0.0188, which attests that the entity had a -0.0188% return per unit of risk over the last 3 months. Goodyear Tire Rubber exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Goodyear's Standard Deviation of 0.7101, market risk adjusted performance of 0.2446, and Risk Adjusted Performance of (0.01) to validate the risk estimate we provide. The bond retains a Market Volatility (i.e., Beta) of -0.0668, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Goodyear are expected to decrease at a much lower rate. During the bear market, Goodyear is likely to outperform the market.
Auto-correlation | 0.27 |
Poor predictability
Goodyear Tire Rubber has poor predictability. Overlapping area represents the amount of predictability between Goodyear time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Goodyear Tire Rubber price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current Goodyear price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.27 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
Goodyear Tire Rubber lagged returns against current returns
Autocorrelation, which is Goodyear bond'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 Goodyear's bond expected returns. We can calculate the autocorrelation of Goodyear returns to help us make a trade decision. For example, suppose you find that Goodyear has exhibited high autocorrelation historically, and you observe that the bond 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 |
Goodyear 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 Goodyear bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodyear bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodyear bond over time.
Current vs Lagged Prices |
| Timeline |
Goodyear Lagged Returns
When evaluating Goodyear's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodyear bond have on its future price. Goodyear 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, Goodyear autocorrelation shows the relationship between Goodyear bond current value and its past values and can show if there is a momentum factor associated with investing in Goodyear Tire Rubber.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Goodyear Bond
Goodyear financial ratios help investors to determine whether Goodyear Bond 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 Goodyear with respect to the benefits of owning Goodyear security.