CareRx's market value is the price at which a share of CareRx trades on a public exchange. It measures the collective expectations of CareRx investors about its performance. CareRx is trading at 1.56 as of the 2nd of February 2025. This is a 4.00% increase since the beginning of the trading day. The stock's lowest day price was 1.56. With this module, you can estimate the performance of a buy and hold strategy of CareRx and determine expected loss or profit from investing in CareRx over a given investment horizon. Check out CareRx Correlation, CareRx Volatility and CareRx Alpha and Beta module to complement your research on CareRx.
Please note, there is a significant difference between CareRx's value and its price as these two are different measures arrived at by different means. Investors typically determine if CareRx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CareRx'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.
CareRx '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 CareRx's pink sheet 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 CareRx.
0.00
01/03/2025
No Change 0.00
0.0
In 30 days
02/02/2025
0.00
If you would invest 0.00 in CareRx on January 3, 2025 and sell it all today you would earn a total of 0.00 from holding CareRx or generate 0.0% return on investment in CareRx over 30 days. CareRx is related to or competes with Ramsay Health, and Medical Facilities. CareRx Corporation, together with its subsidiaries, provides specialty pharmacy services to seniors in Canada More
CareRx 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 CareRx's pink sheet 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 CareRx 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 CareRx's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CareRx's standard deviation. In reality, there are many statistical measures that can use CareRx historical prices to predict the future CareRx's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as CareRx. Your research has to be compared to or analyzed against CareRx's peers to derive any actionable benefits. When done correctly, CareRx'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 CareRx.
CareRx Backtested Returns
At this point, CareRx is dangerous. CareRx secures Sharpe Ratio (or Efficiency) of 0.0321, which signifies that the company had a 0.0321 % return per unit of risk over the last 3 months. We have found twenty technical indicators for CareRx, which you can use to evaluate the volatility of the firm. Please confirm CareRx's Risk Adjusted Performance of 0.0337, standard deviation of 2.93, and Mean Deviation of 1.08 to double-check if the risk estimate we provide is consistent with the expected return of 0.0955%. CareRx has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.66, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning CareRx are expected to decrease at a much lower rate. During the bear market, CareRx is likely to outperform the market. CareRx right now shows a risk of 2.97%. Please confirm CareRx potential upside, as well as the relationship between the daily balance of power and day typical price , to decide if CareRx will be following its price patterns.
Auto-correlation
0.53
Modest predictability
CareRx has modest predictability. Overlapping area represents the amount of predictability between CareRx time series from 3rd of January 2025 to 18th of January 2025 and 18th of January 2025 to 2nd 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 CareRx price movement. The serial correlation of 0.53 indicates that about 53.0% of current CareRx price fluctuation can be explain by its past prices.
Correlation Coefficient
0.53
Spearman Rank Test
1.0
Residual Average
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Price Variance
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CareRx lagged returns against current returns
Autocorrelation, which is CareRx pink sheet'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 CareRx's pink sheet expected returns. We can calculate the autocorrelation of CareRx returns to help us make a trade decision. For example, suppose you find that CareRx has exhibited high autocorrelation historically, and you observe that the pink sheet 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
CareRx 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 CareRx pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CareRx pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CareRx pink sheet over time.
Current vs Lagged Prices
Timeline
CareRx Lagged Returns
When evaluating CareRx's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CareRx pink sheet have on its future price. CareRx 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, CareRx autocorrelation shows the relationship between CareRx pink sheet current value and its past values and can show if there is a momentum factor associated with investing in CareRx.
Other Information on Investing in CareRx Pink Sheet
CareRx financial ratios help investors to determine whether CareRx Pink Sheet 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 CareRx with respect to the benefits of owning CareRx security.