Medtronic PLC (Germany) Market Value
| 2M6 Stock | 81.82 0.75 0.93% |
| 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.
| 12/11/2022 |
| 11/30/2024 |
If you would invest 0.00 in Medtronic PLC on December 11, 2022 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 720 days. Medtronic PLC is related to or competes with Martin Marietta, Fukuyama Transporting, and Applied Materials. More
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.
| Downside Deviation | 1.18 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 5.75 | |||
| Value At Risk | (1.65) | |||
| Potential Upside | 1.77 |
Medtronic PLC Market Risk Indicators
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.| Risk Adjusted Performance | 0.0474 | |||
| Jensen Alpha | 0.0667 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | (0.60) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Medtronic PLC's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Medtronic PLC Backtested Returns
Currently, Medtronic PLC is very steady. Medtronic PLC has Sharpe Ratio of 0.0633, which conveys that the firm had a 0.0633% return per unit of risk over the last 3 months. We have found thirty technical indicators for Medtronic PLC, which you can use to evaluate the volatility of the firm. Please verify Medtronic PLC's Mean Deviation of 0.8819, risk adjusted performance of 0.0474, and Downside Deviation of 1.18 to check out if the risk estimate we provide is consistent with the expected return of 0.0722%. Medtronic PLC has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.0917, 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 1.14%. Please verify Medtronic PLC semi deviation, jensen alpha, maximum drawdown, as well as the relationship between the coefficient of variation and sortino ratio , to decide if Medtronic PLC will be following its current price movements.
Auto-correlation | -0.56 |
Good reverse predictability
Medtronic PLC has good reverse predictability. Overlapping area represents the amount of predictability between Medtronic PLC time series from 11th of December 2022 to 6th of December 2023 and 6th of December 2023 to 30th of November 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 -0.56 indicates that roughly 56.0% of current Medtronic PLC price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 12.99 |
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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Additional Tools for Medtronic Stock Analysis
When running Medtronic PLC's price analysis, check to measure Medtronic PLC's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Medtronic PLC is operating at the current time. Most of Medtronic PLC's value examination focuses on studying past and present price action to predict the probability of Medtronic PLC's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Medtronic PLC's price. Additionally, you may evaluate how the addition of Medtronic PLC to your portfolios can decrease your overall portfolio volatility.