Credo Technology Group Stock Price on October 31, 2023
| CRDO Stock | USD 46.28 3.31 7.70% |
If you're considering investing in Credo Stock, it is important to understand the factors that can impact its price. As of today, the current price of Credo Technology stands at 46.28, as last reported on the 22nd of November, with the highest price reaching 47.53 and the lowest price hitting 44.37 during the day. Credo Technology appears to be not too volatile, given 3 months investment horizon. Credo Technology secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the company had a 0.12% return per unit of standard deviation over the last 3 months. By analyzing Credo Technology's technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please makes use of Credo Technology's risk adjusted performance of 0.099, and Mean Deviation of 3.29 to double-check if our risk estimates are consistent with your expectations.
Credo Stock price history is provided at the adjusted basis, taking into account all of the recent filings.
Credo |
Sharpe Ratio = 0.1189
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Estimated Market Risk
| 4.43 actual daily | 39 61% of assets are more volatile |
Expected Return
| 0.53 actual daily | 10 90% of assets have higher returns |
Risk-Adjusted Return
| 0.12 actual daily | 9 91% of assets perform better |
Based on monthly moving average Credo Technology is performing at about 9% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Credo Technology by adding it to a well-diversified portfolio.
Credo Technology Valuation on October 31, 2023
It is possible to determine the worth of Credo Technology on a given historical date. On October 31, 2023 Credo was worth 13.57 at the beginning of the trading date compared to the closed value of 14.22. We use multiple weighted factors in our valuation methodologies to arrive at the intrinsic value of Credo Technology stock. Still, in general, we apply an absolute valuation method to find Credo Technology's value based on its fundamental and technical indicators available within our service. As compared to an absolute model, our relative valuation model uses a comparative analysis of Credo Technology where we calculate exposure to its market risk and evaluate relevant financial multiples and ratios against Credo Technology's related companies.
| Open | High | Low | Close | Volume | |
| 14.00 | 14.00 | 13.38 | 13.60 | 1,082,300 | |
10/31/2023 | 13.57 | 14.24 | 13.53 | 14.22 | 1,106,000 |
| 14.24 | 14.81 | 14.24 | 14.52 | 2,215,400 |
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Credo Technology Trading Date Momentum on October 31, 2023
| On November 01 2023 Credo Technology Group was traded for 14.52 at the closing time. The top price for the day was 14.81 and the lowest listed price was 14.24 . The trading volume for the day was 2.2 M. The trading history from November 1, 2023 was a factor to the next trading day price boost. The overall trading delta against the next closing price was 2.11% . The overall trading delta against the current closing price is 6.75% . |
Credo Technology Fundamentals Correlations and Trends
By evaluating Credo Technology's financials over time, investors can gain insight into future company performance. However, you can also analyze the published financial statements to find patterns among Credo Technology's main balance sheet or income statement drivers and many other relevant indicators that can statistically be found significantly correlated or uncorrelated. Credo financial account trend analysis is a perfect complement when working with valuation or volatility modules.About Credo Technology Stock history
Credo Technology investors dedicate a lot of time and effort to gaining insight into how a market's past behavior relates to its future. Access to timely market data for Credo is vital when making an investment decision, and regardless of whether you use fundamental or technical analysis, your return on investment in Credo Technology will depend on recognizing future opportunities and eliminating past mistakes. Historical data analysis is the study of market behavior over a given time. Recorded market-related data such as price, volatility, and volume can be quantified and studied over a defined period. Through a detailed examination of a market's past behavior, traders and investors can gain perspective on the inner workings of that market. The information obtained throughout analyzing Credo Technology stock prices may prove useful in developing a viable investing in Credo Technology
Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Mainland China, Hong Kong, and internationally. The company was founded in 2008 and is headquartered in San Jose, California. Credo Technology is traded on NASDAQ Exchange in the United States.
Credo Technology Stock Technical Analysis
Credo Technology technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
Price Boundaries
Credo Technology Period Price Range
Low | November 22, 2024
| High |
0.00 | 0.00 |
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Credo Technology November 22, 2024 Market Strength
Market strength indicators help investors to evaluate how Credo Technology stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Credo Technology shares will generate the highest return on investment. By undertsting and applying Credo Technology stock market strength indicators, traders can identify Credo Technology Group entry and exit signals to maximize returns
Credo Technology Technical and Predictive Indicators
Predictive indicators are helping investors to find signals for Credo Technology's price direction in advance. Along with the technical and fundamental analysis of Credo Stock historical price patterns, it is also worthwhile for investors to track various predictive indicators of Credo to make sure they correctly time the market and exploit it's hidden potentials. Even though most predictive indicators are useful for the short-term horizon, it's virtually impossible to predict the unforeseen market. For traders with a short-term horizon, predictive indicators add value when properly applied. Long-term investors, however, may find many predictive indicators less useful.
| Risk Adjusted Performance | 0.099 | |||
| Jensen Alpha | 0.497 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0872 | |||
| Treynor Ratio | 2.62 |
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Credo Technology Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.
Is Electronic Equipment 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 Credo Technology. If investors know Credo 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 Credo Technology listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Credo Technology is measured differently than its book value, which is the value of Credo that is recorded on the company's balance sheet. Investors also form their own opinion of Credo Technology's value that differs from its market value or its book value, called intrinsic value, which is Credo Technology'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 Credo Technology's market value can be influenced by many factors that don't directly affect Credo Technology'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 Credo Technology's value and its price as these two are different measures arrived at by different means. Investors typically determine if Credo Technology is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Credo Technology'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.