Avanos Medical (Germany) Market Value
| 8HH Stock | EUR 17.60 0.20 1.15% |
| Symbol | Avanos |
Avanos Medical '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 Avanos Medical'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 Avanos Medical.
| 12/17/2023 |
| 12/11/2024 |
If you would invest 0.00 in Avanos Medical on December 17, 2023 and sell it all today you would earn a total of 0.00 from holding Avanos Medical or generate 0.0% return on investment in Avanos Medical over 360 days. Avanos Medical is related to or competes with Major Drilling, Kaiser Aluminum, LION ONE, SWISS WATER, Lerøy Seafood, Lion One, and VARIOUS EATERIES. Avanos Medical, Inc. operates as a medical technology company that focuses on delivering medical device solutions to imp... More
Avanos Medical 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 Avanos Medical'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 Avanos Medical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 22.09 | |||
| Value At Risk | (3.08) | |||
| Potential Upside | 3.53 |
Avanos Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Avanos Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Avanos Medical's standard deviation. In reality, there are many statistical measures that can use Avanos Medical historical prices to predict the future Avanos Medical's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.45) | |||
| Total Risk Alpha | (0.76) | |||
| Treynor Ratio | (0.17) |
Avanos Medical Backtested Returns
Avanos Medical secures Sharpe Ratio (or Efficiency) of -0.0752, which signifies that the company had a -0.0752% return per unit of standard deviation over the last 3 months. Avanos Medical exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Avanos Medical's mean deviation of 1.72, and Risk Adjusted Performance of (0.05) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.56, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Avanos Medical will likely underperform. At this point, Avanos Medical has a negative expected return of -0.23%. Please make sure to confirm Avanos Medical's standard deviation, jensen alpha, and the relationship between the coefficient of variation and information ratio , to decide if Avanos Medical performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.46 |
Modest reverse predictability
Avanos Medical has modest reverse predictability. Overlapping area represents the amount of predictability between Avanos Medical time series from 17th of December 2023 to 14th of June 2024 and 14th of June 2024 to 11th 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 Avanos Medical price movement. The serial correlation of -0.46 indicates that about 46.0% of current Avanos Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 2.41 |
Avanos Medical lagged returns against current returns
Autocorrelation, which is Avanos Medical 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 Avanos Medical's stock expected returns. We can calculate the autocorrelation of Avanos Medical returns to help us make a trade decision. For example, suppose you find that Avanos Medical 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 |
Avanos Medical 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 Avanos Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Avanos Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Avanos Medical stock over time.
Current vs Lagged Prices |
| Timeline |
Avanos Medical Lagged Returns
When evaluating Avanos Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Avanos Medical stock have on its future price. Avanos Medical 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, Avanos Medical autocorrelation shows the relationship between Avanos Medical stock current value and its past values and can show if there is a momentum factor associated with investing in Avanos Medical.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Avanos Stock
When determining whether Avanos Medical is a strong investment it is important to analyze Avanos Medical's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Avanos Medical's future performance. For an informed investment choice regarding Avanos Stock, refer to the following important reports:Check out Avanos Medical Correlation, Avanos Medical Volatility and Avanos Medical Alpha and Beta module to complement your research on Avanos Medical. For more detail on how to invest in Avanos Stock please use our How to Invest in Avanos Medical guide.You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Avanos Medical 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.