Medtronic PLC's market value is the price at which a share of Medtronic PLC trades on a public exchange. It measures the collective expectations of Medtronic PLC investors about its performance. Medtronic PLC is trading at 81.88 as of the 2nd of December 2024, a 1 percent decrease since the beginning of the trading day. The stock's open price was 82.71. With this module, you can estimate the performance of a buy and hold strategy of Medtronic PLC and determine expected loss or profit from investing in Medtronic PLC over a given investment horizon. Check out Trending Equities 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 board of governors.
Symbol
Medtronic
Medtronic PLC '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 Medtronic PLC'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 Medtronic PLC.
0.00
01/12/2023
No Change 0.00
0.0
In 1 year 10 months and 22 days
12/02/2024
0.00
If you would invest 0.00 in Medtronic PLC on January 12, 2023 and sell it all today you would earn a total of 0.00 from holding Medtronic PLC or generate 0.0% return on investment in Medtronic PLC over 690 days.
Medtronic PLC 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 Medtronic PLC'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 Medtronic PLC upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for Medtronic PLC's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Medtronic PLC's standard deviation. In reality, there are many statistical measures that can use Medtronic PLC historical prices to predict the future Medtronic PLC's volatility.
At this point, Medtronic PLC is very steady. Medtronic PLC has Sharpe Ratio of 0.0437, which conveys that the firm had a 0.0437% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Medtronic PLC, which you can use to evaluate the volatility of the firm. Please verify Medtronic PLC's Risk Adjusted Performance of 0.053, mean deviation of 0.8419, and Downside Deviation of 1.09 to check out if the risk estimate we provide is consistent with the expected return of 0.0468%. Medtronic PLC has a performance score of 3 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.13, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Medtronic PLC are expected to decrease at a much lower rate. During the bear market, Medtronic PLC is likely to outperform the market. Medtronic PLC right now secures a risk of 1.07%. Please verify Medtronic PLC mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Medtronic PLC will be following its current price movements.
Auto-correlation
-0.64
Very good reverse predictability
Medtronic PLC has very good reverse predictability. Overlapping area represents the amount of predictability between Medtronic PLC time series from 12th of January 2023 to 23rd of December 2023 and 23rd of December 2023 to 2nd 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 Medtronic PLC price movement. The serial correlation of -0.64 indicates that roughly 64.0% of current Medtronic PLC price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.64
Spearman Rank Test
-0.1
Residual Average
0.0
Price Variance
12.51
Medtronic PLC lagged returns against current returns
Autocorrelation, which is Medtronic PLC 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 Medtronic PLC's stock expected returns. We can calculate the autocorrelation of Medtronic PLC returns to help us make a trade decision. For example, suppose you find that Medtronic PLC 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
Medtronic PLC 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 Medtronic PLC stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Medtronic PLC stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Medtronic PLC stock over time.
Current vs Lagged Prices
Timeline
Medtronic PLC Lagged Returns
When evaluating Medtronic PLC's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Medtronic PLC stock have on its future price. Medtronic PLC 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, Medtronic PLC autocorrelation shows the relationship between Medtronic PLC stock current value and its past values and can show if there is a momentum factor associated with investing in Medtronic PLC.
Regressed Prices
Timeline
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