Carerx Corp Stock Market Value
| CRRX Stock | CAD 1.88 0.05 2.73% |
| Symbol | CareRx |
CareRx Corp Price To Book Ratio
CareRx Corp '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 Corp'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 CareRx Corp.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in CareRx Corp on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding CareRx Corp or generate 0.0% return on investment in CareRx Corp over 30 days. CareRx Corp is related to or competes with Baylin Technologies, D2L, and Velan. CareRx Corporation, together with its subsidiaries, provides specialty pharmacy services to seniors in Canada More
CareRx Corp 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 Corp'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 CareRx Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 14.89 | |||
| Value At Risk | (3.68) | |||
| Potential Upside | 4.4 |
CareRx Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CareRx Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CareRx Corp's standard deviation. In reality, there are many statistical measures that can use CareRx Corp historical prices to predict the future CareRx Corp's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.43) | |||
| Treynor Ratio | (0.81) |
CareRx Corp Backtested Returns
As of now, CareRx Stock is very risky. CareRx Corp secures Sharpe Ratio (or Efficiency) of 0.033, which signifies that the company had a 0.033% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for CareRx Corp, which you can use to evaluate the volatility of the firm. Please confirm CareRx Corp's Mean Deviation of 1.63, standard deviation of 2.51, and Risk Adjusted Performance of (0.01) to double-check if the risk estimate we provide is consistent with the expected return of 0.0825%. CareRx Corp has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.0624, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CareRx Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding CareRx Corp is expected to be smaller as well. CareRx Corp right now shows a risk of 2.5%. Please confirm CareRx Corp value at risk, skewness, and the relationship between the maximum drawdown and potential upside , to decide if CareRx Corp will be following its price patterns.
Auto-correlation | 0.65 |
Good predictability
CareRx Corp has good predictability. Overlapping area represents the amount of predictability between CareRx Corp time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 CareRx Corp price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current CareRx Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
CareRx Corp lagged returns against current returns
Autocorrelation, which is CareRx Corp 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 CareRx Corp's stock expected returns. We can calculate the autocorrelation of CareRx Corp returns to help us make a trade decision. For example, suppose you find that CareRx Corp 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 |
CareRx Corp 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 Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CareRx Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CareRx Corp stock over time.
Current vs Lagged Prices |
| Timeline |
CareRx Corp Lagged Returns
When evaluating CareRx Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CareRx Corp stock have on its future price. CareRx Corp 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 Corp autocorrelation shows the relationship between CareRx Corp stock current value and its past values and can show if there is a momentum factor associated with investing in CareRx Corp.
Regressed Prices |
| Timeline |
Other Information on Investing in CareRx Stock
CareRx Corp financial ratios help investors to determine whether CareRx 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 CareRx with respect to the benefits of owning CareRx Corp security.