Digital Workforce's market value is the price at which a share of Digital Workforce trades on a public exchange. It measures the collective expectations of Digital Workforce Services investors about its performance. Digital Workforce is trading at 3.62 as of the 2nd of December 2024, a 1.63 percent decrease since the beginning of the trading day. The stock's lowest day price was 3.5. With this module, you can estimate the performance of a buy and hold strategy of Digital Workforce Services and determine expected loss or profit from investing in Digital Workforce over a given investment horizon. Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
Digital
Digital Workforce '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 Digital Workforce'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 Digital Workforce.
0.00
12/13/2022
No Change 0.00
0.0
In 1 year 11 months and 21 days
12/02/2024
0.00
If you would invest 0.00 in Digital Workforce on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Digital Workforce Services or generate 0.0% return on investment in Digital Workforce over 720 days.
Digital Workforce 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 Digital Workforce'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 Digital Workforce Services 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 Digital Workforce's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Digital Workforce's standard deviation. In reality, there are many statistical measures that can use Digital Workforce historical prices to predict the future Digital Workforce's volatility.
Digital Workforce secures Sharpe Ratio (or Efficiency) of -0.0203, which denotes the company had a -0.0203% return per unit of risk over the last 3 months. Digital Workforce Services exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Digital Workforce's Mean Deviation of 1.94, standard deviation of 2.78, and Variance of 7.75 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.53, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Digital Workforce are expected to decrease at a much lower rate. During the bear market, Digital Workforce is likely to outperform the market. At this point, Digital Workforce has a negative expected return of -0.055%. Please make sure to confirm Digital Workforce's treynor ratio, kurtosis, and the relationship between the jensen alpha and potential upside , to decide if Digital Workforce performance from the past will be repeated at some point in the near future.
Auto-correlation
-0.04
Very weak reverse predictability
Digital Workforce Services has very weak reverse predictability. Overlapping area represents the amount of predictability between Digital Workforce time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Digital Workforce price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current Digital Workforce price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.04
Spearman Rank Test
-0.14
Residual Average
0.0
Price Variance
0.28
Digital Workforce lagged returns against current returns
Autocorrelation, which is Digital Workforce 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 Digital Workforce's stock expected returns. We can calculate the autocorrelation of Digital Workforce returns to help us make a trade decision. For example, suppose you find that Digital Workforce 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
Digital Workforce 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 Digital Workforce stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Digital Workforce stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Digital Workforce stock over time.
Current vs Lagged Prices
Timeline
Digital Workforce Lagged Returns
When evaluating Digital Workforce's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Digital Workforce stock have on its future price. Digital Workforce 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, Digital Workforce autocorrelation shows the relationship between Digital Workforce stock current value and its past values and can show if there is a momentum factor associated with investing in Digital Workforce Services.
Regressed Prices
Timeline
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.