Docgo Inc Stock Market Value
| DCGO Stock | USD 4.25 0.13 3.16% |
| Symbol | DocGo |
DocGo Inc Price To Book Ratio
Is Health Care Equipment & Supplies space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of DocGo. If investors know DocGo will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about DocGo listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.09 | Earnings Share 0.29 | Revenue Per Share 6.752 | Quarterly Revenue Growth (0.26) | Return On Assets 0.0658 |
The market value of DocGo Inc is measured differently than its book value, which is the value of DocGo that is recorded on the company's balance sheet. Investors also form their own opinion of DocGo's value that differs from its market value or its book value, called intrinsic value, which is DocGo's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because DocGo's market value can be influenced by many factors that don't directly affect DocGo's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between DocGo's value and its price as these two are different measures arrived at by different means. Investors typically determine if DocGo is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, DocGo'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.
DocGo '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 DocGo'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 DocGo.
| 12/04/2022 |
| 11/23/2024 |
If you would invest 0.00 in DocGo on December 4, 2022 and sell it all today you would earn a total of 0.00 from holding DocGo Inc or generate 0.0% return on investment in DocGo over 720 days. DocGo is related to or competes with Enhabit, Ensign, Pennant, InnovAge Holding, National HealthCare, Select Medical, and Encompass Health. DocGo, Inc. provides mobile health and medical transportation services for various health care providers in the United S... More
DocGo 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 DocGo'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 DocGo Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.97 | |||
| Information Ratio | 0.0741 | |||
| Maximum Drawdown | 14.68 | |||
| Value At Risk | (5.97) | |||
| Potential Upside | 6.25 |
DocGo Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DocGo's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DocGo's standard deviation. In reality, there are many statistical measures that can use DocGo historical prices to predict the future DocGo's volatility.| Risk Adjusted Performance | 0.097 | |||
| Jensen Alpha | 0.0999 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | 0.0765 | |||
| Treynor Ratio | 0.1694 |
DocGo Inc Backtested Returns
DocGo appears to be slightly risky, given 3 months investment horizon. DocGo Inc secures Sharpe Ratio (or Efficiency) of 0.081, which denotes the company had a 0.081% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for DocGo Inc, which you can use to evaluate the volatility of the firm. Please utilize DocGo's Semi Deviation of 2.58, downside deviation of 2.97, and Mean Deviation of 2.09 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, DocGo holds a performance score of 6. The firm shows a Beta (market volatility) of 2.06, which means 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, DocGo will likely underperform. Please check DocGo's potential upside, rate of daily change, and the relationship between the sortino ratio and skewness , to make a quick decision on whether DocGo's price patterns will revert.
Auto-correlation | -0.34 |
Poor reverse predictability
DocGo Inc has poor reverse predictability. Overlapping area represents the amount of predictability between DocGo time series from 4th of December 2022 to 29th of November 2023 and 29th of November 2023 to 23rd 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 DocGo Inc price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current DocGo price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.46 |
DocGo Inc lagged returns against current returns
Autocorrelation, which is DocGo 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 DocGo's stock expected returns. We can calculate the autocorrelation of DocGo returns to help us make a trade decision. For example, suppose you find that DocGo 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 |
DocGo 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 DocGo stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DocGo stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DocGo stock over time.
Current vs Lagged Prices |
| Timeline |
DocGo Lagged Returns
When evaluating DocGo's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DocGo stock have on its future price. DocGo 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, DocGo autocorrelation shows the relationship between DocGo stock current value and its past values and can show if there is a momentum factor associated with investing in DocGo Inc.
Regressed Prices |
| Timeline |
Pair Trading with DocGo
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if DocGo position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in DocGo will appreciate offsetting losses from the drop in the long position's value.Moving together with DocGo Stock
Moving against DocGo Stock
| 0.8 | FIGS | Figs Inc | PairCorr |
| 0.77 | PHG | Koninklijke Philips | PairCorr |
| 0.64 | CVS | CVS Health Corp Aggressive Push | PairCorr |
| 0.64 | EVH | Evolent Health | PairCorr |
| 0.52 | AGL | agilon health | PairCorr |
The ability to find closely correlated positions to DocGo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DocGo when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DocGo - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DocGo Inc to buy it.
The correlation of DocGo is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DocGo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DocGo Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for DocGo can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out DocGo Correlation, DocGo Volatility and DocGo Alpha and Beta module to complement your research on DocGo. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
DocGo 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.