INDUSTRIAL MEDICAL (Nigeria) Market Value
| IMG Stock | 37.95 0.00 0.00% |
| Symbol | INDUSTRIAL |
INDUSTRIAL 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 INDUSTRIAL 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 INDUSTRIAL MEDICAL.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in INDUSTRIAL MEDICAL on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding INDUSTRIAL MEDICAL GASES or generate 0.0% return on investment in INDUSTRIAL MEDICAL over 30 days.
INDUSTRIAL 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 INDUSTRIAL 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 INDUSTRIAL MEDICAL GASES upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.1914 | |||
| Maximum Drawdown | 10.0 | |||
| Potential Upside | 8.43 |
INDUSTRIAL MEDICAL Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for INDUSTRIAL MEDICAL's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as INDUSTRIAL MEDICAL's standard deviation. In reality, there are many statistical measures that can use INDUSTRIAL MEDICAL historical prices to predict the future INDUSTRIAL MEDICAL's volatility.| Risk Adjusted Performance | 0.1989 | |||
| Jensen Alpha | 0.6719 | |||
| Total Risk Alpha | 0.1836 | |||
| Treynor Ratio | (0.68) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of INDUSTRIAL 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.
INDUSTRIAL MEDICAL GASES Backtested Returns
INDUSTRIAL MEDICAL appears to be very steady, given 3 months investment horizon. INDUSTRIAL MEDICAL GASES holds Efficiency (Sharpe) Ratio of 0.22, which attests that the entity had a 0.22% return per unit of return volatility over the last 3 months. We have found seventeen technical indicators for INDUSTRIAL MEDICAL GASES, which you can use to evaluate the volatility of the firm. Please utilize INDUSTRIAL MEDICAL's Coefficient Of Variation of 397.63, market risk adjusted performance of (0.67), and Risk Adjusted Performance of 0.1989 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, INDUSTRIAL MEDICAL holds a performance score of 17. The company retains a Market Volatility (i.e., Beta) of -0.83, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning INDUSTRIAL MEDICAL are expected to decrease at a much lower rate. During the bear market, INDUSTRIAL MEDICAL is likely to outperform the market. Please check INDUSTRIAL MEDICAL's information ratio, as well as the relationship between the skewness and day typical price , to make a quick decision on whether INDUSTRIAL MEDICAL's current trending patterns will revert.
Auto-correlation | 0.00 |
No correlation between past and present
INDUSTRIAL MEDICAL GASES has no correlation between past and present. Overlapping area represents the amount of predictability between INDUSTRIAL MEDICAL time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 INDUSTRIAL MEDICAL GASES price movement. The serial correlation of 0.0 indicates that just 0.0% of current INDUSTRIAL MEDICAL price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
INDUSTRIAL MEDICAL GASES lagged returns against current returns
Autocorrelation, which is INDUSTRIAL 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 INDUSTRIAL MEDICAL's stock expected returns. We can calculate the autocorrelation of INDUSTRIAL MEDICAL returns to help us make a trade decision. For example, suppose you find that INDUSTRIAL 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 |
INDUSTRIAL 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 INDUSTRIAL MEDICAL stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if INDUSTRIAL MEDICAL stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in INDUSTRIAL MEDICAL stock over time.
Current vs Lagged Prices |
| Timeline |
INDUSTRIAL MEDICAL Lagged Returns
When evaluating INDUSTRIAL MEDICAL's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of INDUSTRIAL MEDICAL stock have on its future price. INDUSTRIAL 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, INDUSTRIAL MEDICAL autocorrelation shows the relationship between INDUSTRIAL MEDICAL stock current value and its past values and can show if there is a momentum factor associated with investing in INDUSTRIAL MEDICAL GASES.
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.Additional Tools for INDUSTRIAL Stock Analysis
When running INDUSTRIAL MEDICAL's price analysis, check to measure INDUSTRIAL 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 INDUSTRIAL MEDICAL is operating at the current time. Most of INDUSTRIAL MEDICAL's value examination focuses on studying past and present price action to predict the probability of INDUSTRIAL 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 INDUSTRIAL MEDICAL's price. Additionally, you may evaluate how the addition of INDUSTRIAL MEDICAL to your portfolios can decrease your overall portfolio volatility.