Patterson Companies Stock Market Value
| PDCO Stock | USD 20.28 0.22 1.10% |
| Symbol | Patterson |
Patterson Companies Price To Book Ratio
Is Health Care Providers & Services 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 Patterson Companies. If investors know Patterson 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 Patterson Companies 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 (0.53) | Dividend Share 1.04 | Earnings Share 1.81 | Revenue Per Share 71.704 | Quarterly Revenue Growth (0.02) |
The market value of Patterson Companies is measured differently than its book value, which is the value of Patterson that is recorded on the company's balance sheet. Investors also form their own opinion of Patterson Companies' value that differs from its market value or its book value, called intrinsic value, which is Patterson Companies' 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 Patterson Companies' market value can be influenced by many factors that don't directly affect Patterson Companies' 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 Patterson Companies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Patterson Companies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patterson Companies' 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.
Patterson Companies '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 Patterson Companies' 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 Patterson Companies.
| 05/26/2024 |
| 11/22/2024 |
If you would invest 0.00 in Patterson Companies on May 26, 2024 and sell it all today you would earn a total of 0.00 from holding Patterson Companies or generate 0.0% return on investment in Patterson Companies over 180 days. Patterson Companies is related to or competes with Owens Minor, Cardinal Health, McKesson, Henry Schein, and EDAP TMS. Patterson Companies, Inc. engages in distribution of dental and animal health products in the United States, the United ... More
Patterson Companies 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 Patterson Companies' 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 Patterson Companies upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 14.14 | |||
| Value At Risk | (3.48) | |||
| Potential Upside | 2.96 |
Patterson Companies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Patterson Companies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Patterson Companies' standard deviation. In reality, there are many statistical measures that can use Patterson Companies historical prices to predict the future Patterson Companies' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.38) | |||
| Total Risk Alpha | (0.55) | |||
| Treynor Ratio | (0.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Patterson Companies' 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.
Patterson Companies Backtested Returns
Patterson Companies maintains Sharpe Ratio (i.e., Efficiency) of -0.12, which implies the firm had a -0.12% return per unit of risk over the last 3 months. Patterson Companies exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Patterson Companies' Coefficient Of Variation of (941.25), risk adjusted performance of (0.07), and Variance of 6.0 to confirm the risk estimate we provide. The company holds a Beta of 1.28, which implies 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, Patterson Companies will likely underperform. At this point, Patterson Companies has a negative expected return of -0.3%. Please make sure to check Patterson Companies' value at risk, accumulation distribution, as well as the relationship between the Accumulation Distribution and day typical price , to decide if Patterson Companies performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.06 |
Very weak reverse predictability
Patterson Companies has very weak reverse predictability. Overlapping area represents the amount of predictability between Patterson Companies time series from 26th of May 2024 to 24th of August 2024 and 24th of August 2024 to 22nd 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 Patterson Companies price movement. The serial correlation of -0.06 indicates that barely 6.0% of current Patterson Companies price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 0.98 |
Patterson Companies lagged returns against current returns
Autocorrelation, which is Patterson Companies 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 Patterson Companies' stock expected returns. We can calculate the autocorrelation of Patterson Companies returns to help us make a trade decision. For example, suppose you find that Patterson Companies 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 |
Patterson Companies 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 Patterson Companies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Patterson Companies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Patterson Companies stock over time.
Current vs Lagged Prices |
| Timeline |
Patterson Companies Lagged Returns
When evaluating Patterson Companies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Patterson Companies stock have on its future price. Patterson Companies 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, Patterson Companies autocorrelation shows the relationship between Patterson Companies stock current value and its past values and can show if there is a momentum factor associated with investing in Patterson Companies.
Regressed Prices |
| Timeline |
Pair Trading with Patterson Companies
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 Patterson Companies 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 Patterson Companies will appreciate offsetting losses from the drop in the long position's value.Moving against Patterson Stock
| 0.48 | DOCS | Doximity | PairCorr |
| 0.46 | VEEV | Veeva Systems Class | PairCorr |
| 0.36 | ECOR | Electrocore LLC | PairCorr |
| 0.34 | VNRX | Volitionrx | PairCorr |
| 0.31 | MD | Mednax Inc | PairCorr |
The ability to find closely correlated positions to Patterson Companies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Patterson Companies 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 Patterson Companies - 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 Patterson Companies to buy it.
The correlation of Patterson Companies 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 Patterson Companies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patterson Companies 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 Patterson Companies 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 Patterson Companies Correlation, Patterson Companies Volatility and Patterson Companies Alpha and Beta module to complement your research on Patterson Companies. To learn how to invest in Patterson Stock, please use our How to Invest in Patterson Companies guide.You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Patterson Companies 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.