Pro Medicus (Australia) Market Value
| PME Stock | 228.41 1.59 0.69% |
| Symbol | Pro |
Pro Medicus '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 Pro Medicus' 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 Pro Medicus.
| 10/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Pro Medicus on October 4, 2023 and sell it all today you would earn a total of 0.00 from holding Pro Medicus or generate 0.0% return on investment in Pro Medicus over 420 days. Pro Medicus is related to or competes with Westpac Banking, Champion Iron, Ridley, Peel Mining, Perpetual Credit, Telix Pharmaceuticals, and Talisman Mining. Pro Medicus is entity of Australia. It is traded as Stock on AU exchange. More
Pro Medicus 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 Pro Medicus' 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 Pro Medicus upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.89 | |||
| Information Ratio | 0.3234 | |||
| Maximum Drawdown | 8.73 | |||
| Value At Risk | (2.38) | |||
| Potential Upside | 3.32 |
Pro Medicus Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pro Medicus' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pro Medicus' standard deviation. In reality, there are many statistical measures that can use Pro Medicus historical prices to predict the future Pro Medicus' volatility.| Risk Adjusted Performance | 0.3106 | |||
| Jensen Alpha | 0.6467 | |||
| Total Risk Alpha | 0.4069 | |||
| Sortino Ratio | 0.2949 | |||
| Treynor Ratio | 2.55 |
Pro Medicus Backtested Returns
Pro Medicus appears to be very steady, given 3 months investment horizon. Pro Medicus maintains Sharpe Ratio (i.e., Efficiency) of 0.41, which implies the firm had a 0.41% return per unit of risk over the last 3 months. By analyzing Pro Medicus' technical indicators, you can evaluate if the expected return of 0.71% is justified by implied risk. Please evaluate Pro Medicus' Semi Deviation of 1.19, coefficient of variation of 250.66, and Risk Adjusted Performance of 0.3106 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Pro Medicus holds a performance score of 32. The company holds a Beta of 0.27, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pro Medicus' returns are expected to increase less than the market. However, during the bear market, the loss of holding Pro Medicus is expected to be smaller as well. Please check Pro Medicus' total risk alpha, treynor ratio, value at risk, as well as the relationship between the sortino ratio and maximum drawdown , to make a quick decision on whether Pro Medicus' historical price patterns will revert.
Auto-correlation | 0.81 |
Very good predictability
Pro Medicus has very good predictability. Overlapping area represents the amount of predictability between Pro Medicus time series from 4th of October 2023 to 1st of May 2024 and 1st of May 2024 to 27th 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 Pro Medicus price movement. The serial correlation of 0.81 indicates that around 81.0% of current Pro Medicus price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.81 | |
| Spearman Rank Test | 0.85 | |
| Residual Average | 0.0 | |
| Price Variance | 830.35 |
Pro Medicus lagged returns against current returns
Autocorrelation, which is Pro Medicus 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 Pro Medicus' stock expected returns. We can calculate the autocorrelation of Pro Medicus returns to help us make a trade decision. For example, suppose you find that Pro Medicus 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 |
Pro Medicus 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 Pro Medicus stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pro Medicus stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pro Medicus stock over time.
Current vs Lagged Prices |
| Timeline |
Pro Medicus Lagged Returns
When evaluating Pro Medicus' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pro Medicus stock have on its future price. Pro Medicus 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, Pro Medicus autocorrelation shows the relationship between Pro Medicus stock current value and its past values and can show if there is a momentum factor associated with investing in Pro Medicus.
Regressed Prices |
| Timeline |
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Additional Tools for Pro Stock Analysis
When running Pro Medicus' price analysis, check to measure Pro Medicus' 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 Pro Medicus is operating at the current time. Most of Pro Medicus' value examination focuses on studying past and present price action to predict the probability of Pro Medicus' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Pro Medicus' price. Additionally, you may evaluate how the addition of Pro Medicus to your portfolios can decrease your overall portfolio volatility.