Elanco Animal Stock Forecast - Treynor Ratio
| ELAN Stock | USD 13.40 0.04 0.30% |
Elanco Stock Forecast is based on your current time horizon. Although Elanco Animal's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Elanco Animal's systematic risk associated with finding meaningful patterns of Elanco Animal fundamentals over time.
Elanco |
| Check Elanco Animal Volatility | Backtest Elanco Animal | Information Ratio |
Elanco Animal Trading Date Momentum
| On November 21 2024 Elanco Animal Health was traded for 13.40 at the closing time. The top price for the day was 13.58 and the lowest listed price was 13.26 . The trading volume for the day was 4.6 M. The trading history from November 21, 2024 did not affect price variability. The overall trading delta against the current closing price is 0.00% . |
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Other Forecasting Options for Elanco Animal
For every potential investor in Elanco, whether a beginner or expert, Elanco Animal's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Elanco Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Elanco. Basic forecasting techniques help filter out the noise by identifying Elanco Animal's price trends.View Elanco Animal Related Equities
| Risk & Return | Correlation |
Elanco Animal Health Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Elanco Animal's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Elanco Animal's current price.| Cycle Indicators | ||
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Elanco Animal Market Strength Events
Market strength indicators help investors to evaluate how Elanco Animal stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Elanco Animal shares will generate the highest return on investment. By undertsting and applying Elanco Animal stock market strength indicators, traders can identify Elanco Animal Health entry and exit signals to maximize returns.
| Accumulation Distribution | 107560.0 | |||
| Daily Balance Of Power | (0.12) | |||
| Rate Of Daily Change | 1.0 | |||
| Day Median Price | 13.42 | |||
| Day Typical Price | 13.41 | |||
| Price Action Indicator | (0.04) | |||
| Period Momentum Indicator | (0.04) | |||
| Relative Strength Index | 52.35 |
Elanco Animal Risk Indicators
The analysis of Elanco Animal's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Elanco Animal's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting elanco stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 1.65 | |||
| Standard Deviation | 2.56 | |||
| Variance | 6.55 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Pair Trading with Elanco Animal
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 Elanco Animal 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 Elanco Animal will appreciate offsetting losses from the drop in the long position's value.Moving against Elanco Stock
| 0.81 | DRUG | Bright Minds Biosciences | PairCorr |
| 0.68 | KTTAW | Pasithea Therapeutics | PairCorr |
| 0.57 | VRDN | Viridian Therapeutics | PairCorr |
| 0.53 | SABSW | SAB Biotherapeutics | PairCorr |
| 0.45 | DMAC | DiaMedica Therapeutics | PairCorr |
The ability to find closely correlated positions to Elanco Animal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elanco Animal 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 Elanco Animal - 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 Elanco Animal Health to buy it.
The correlation of Elanco Animal 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 Elanco Animal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elanco Animal Health 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 Elanco Animal 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.Check out Historical Fundamental Analysis of Elanco Animal to cross-verify your projections. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Is Pharmaceuticals space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Elanco Animal. If investors know Elanco will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Elanco Animal listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.71) | Earnings Share 0.41 | Revenue Per Share 9.023 | Quarterly Revenue Growth (0.04) | Return On Assets 0.0118 |
The market value of Elanco Animal Health is measured differently than its book value, which is the value of Elanco that is recorded on the company's balance sheet. Investors also form their own opinion of Elanco Animal's value that differs from its market value or its book value, called intrinsic value, which is Elanco Animal's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Elanco Animal's market value can be influenced by many factors that don't directly affect Elanco Animal's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Elanco Animal's value and its price as these two are different measures arrived at by different means. Investors typically determine if Elanco Animal is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Elanco Animal's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.