Top Choice's market value is the price at which a share of Top Choice trades on a public exchange. It measures the collective expectations of Top Choice Medical investors about its performance. Top Choice is trading at 41.01 as of the 3rd of February 2025, a 1.61 percent decrease since the beginning of the trading day. The stock's open price was 41.68. With this module, you can estimate the performance of a buy and hold strategy of Top Choice Medical and determine expected loss or profit from investing in Top Choice over a given investment horizon. Check out Top Choice Correlation, Top Choice Volatility and Top Choice Alpha and Beta module to complement your research on Top Choice.
Please note, there is a significant difference between Top Choice's value and its price as these two are different measures arrived at by different means. Investors typically determine if Top Choice is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Top Choice'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.
Top Choice '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 Top Choice'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 Top Choice.
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Top Choice'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 Top Choice Medical 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 Top Choice's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Top Choice's standard deviation. In reality, there are many statistical measures that can use Top Choice historical prices to predict the future Top Choice's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Top Choice. Your research has to be compared to or analyzed against Top Choice's peers to derive any actionable benefits. When done correctly, Top Choice's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Top Choice Medical.
Top Choice Medical Backtested Returns
Top Choice Medical owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.22, which indicates the firm had a -0.22 % return per unit of risk over the last 3 months. Top Choice Medical exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Top Choice's Variance of 3.29, coefficient of variation of (511.37), and Risk Adjusted Performance of (0.16) to confirm the risk estimate we provide. The entity has a beta of 0.36, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Top Choice's returns are expected to increase less than the market. However, during the bear market, the loss of holding Top Choice is expected to be smaller as well. At this point, Top Choice Medical has a negative expected return of -0.39%. Please make sure to validate Top Choice's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Top Choice Medical performance from the past will be repeated at some point in the near future.
Auto-correlation
0.42
Average predictability
Top Choice Medical has average predictability. Overlapping area represents the amount of predictability between Top Choice time series from 4th of January 2025 to 19th of January 2025 and 19th of January 2025 to 3rd of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Top Choice Medical price movement. The serial correlation of 0.42 indicates that just about 42.0% of current Top Choice price fluctuation can be explain by its past prices.
Correlation Coefficient
0.42
Spearman Rank Test
0.32
Residual Average
0.0
Price Variance
0.09
Top Choice Medical lagged returns against current returns
Autocorrelation, which is Top Choice 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 Top Choice's stock expected returns. We can calculate the autocorrelation of Top Choice returns to help us make a trade decision. For example, suppose you find that Top Choice 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
Top Choice 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 Top Choice stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Top Choice stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Top Choice stock over time.
Current vs Lagged Prices
Timeline
Top Choice Lagged Returns
When evaluating Top Choice's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Top Choice stock have on its future price. Top Choice 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, Top Choice autocorrelation shows the relationship between Top Choice stock current value and its past values and can show if there is a momentum factor associated with investing in Top Choice Medical.
Top Choice financial ratios help investors to determine whether Top Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Top with respect to the benefits of owning Top Choice security.