Nextgen Healthcare Stock Forecast - Relative Strength Index
| NXGNDelisted Stock | USD 16.53 0.05 0.30% |
Nextgen Stock Forecast is based on your current time horizon.
Nextgen |
| Previous Relative Strength Index | Relative Strength Index | Trend |
| 14.95 | 14.95 |
| Check Nextgen Healthcare Volatility | Backtest Nextgen Healthcare | Information Ratio |
Nextgen Healthcare Trading Date Momentum
| On November 23 2024 Nextgen Healthcare was traded for 16.53 at the closing time. The top price for the day was 16.67 and the lowest listed price was 16.41 . There was no trading activity during the period 0.0. Lack of trading volume on November 23, 2024 did not cause price change. The trading delta at closing time against the current closing price is 0.30% . |
Nextgen Healthcare Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nextgen Healthcare stock to make a market-neutral strategy. Peer analysis of Nextgen Healthcare could also be used in its relative valuation, which is a method of valuing Nextgen Healthcare by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Nextgen Healthcare Market Strength Events
Market strength indicators help investors to evaluate how Nextgen Healthcare stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Nextgen Healthcare shares will generate the highest return on investment. By undertsting and applying Nextgen Healthcare stock market strength indicators, traders can identify Nextgen Healthcare entry and exit signals to maximize returns.
Nextgen Healthcare Risk Indicators
The analysis of Nextgen Healthcare'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 Nextgen Healthcare's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting nextgen 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 | 1.1 | |||
| Standard Deviation | 1.53 | |||
| Variance | 2.33 |
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 Nextgen Healthcare
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 Nextgen Healthcare 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 Nextgen Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving against Nextgen Stock
| 0.6 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.59 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.55 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.38 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.37 | WMT | Walmart Aggressive Push | PairCorr |
The ability to find closely correlated positions to Nextgen Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nextgen Healthcare 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 Nextgen Healthcare - 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 Nextgen Healthcare to buy it.
The correlation of Nextgen Healthcare 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 Nextgen Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nextgen Healthcare 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 Nextgen Healthcare 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 Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Consideration for investing in Nextgen Stock
If you are still planning to invest in Nextgen Healthcare check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Nextgen Healthcare's history and understand the potential risks before investing.
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