Avanos Medical (Germany) Market Value
| 8HH Stock | 17.90 0.20 1.10% |
| 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.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Avanos Medical on October 28, 2024 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 30 days. Avanos Medical is related to or competes with Apple, Apple, Apple, Apple, Apple, Microsoft, and Microsoft. 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 | (0.11) | |||
| Maximum Drawdown | 20.85 | |||
| Value At Risk | (2.88) | |||
| Potential Upside | 2.88 |
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 | (0.04) | |||
| Jensen Alpha | (0.46) | |||
| Total Risk Alpha | (0.65) | |||
| Treynor Ratio | (0.09) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Avanos Medical'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.
Avanos Medical Backtested Returns
Avanos Medical secures Sharpe Ratio (or Efficiency) of -0.0724, which signifies that the company had a -0.0724% return per unit of standard deviation over the last 3 months. Avanos Medical exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Avanos Medical's mean deviation of 1.64, and Risk Adjusted Performance of (0.04) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 2.24, 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 -0.21%. Please make sure to confirm Avanos Medical's potential upside, day median price, and the relationship between the treynor ratio and accumulation distribution , to decide if Avanos Medical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.68 |
Good predictability
Avanos Medical has good predictability. Overlapping area represents the amount of predictability between Avanos Medical time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Avanos Medical price movement. The serial correlation of 0.68 indicates that around 68.0% of current Avanos Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.68 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.46 |
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 |
Thematic Opportunities
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Additional Tools for Avanos Stock Analysis
When running Avanos Medical's price analysis, check to measure Avanos Medical'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 Avanos Medical is operating at the current time. Most of Avanos Medical's value examination focuses on studying past and present price action to predict the probability of Avanos Medical's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Avanos Medical's price. Additionally, you may evaluate how the addition of Avanos Medical to your portfolios can decrease your overall portfolio volatility.