Quipt Home Medical Stock Market Value
| QIPT Stock | 3.47 0.12 3.58% |
| Symbol | Quipt |
Quipt Home Medical Price To Book Ratio
Quipt Home '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 Quipt Home'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 Quipt Home.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Quipt Home on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Quipt Home Medical or generate 0.0% return on investment in Quipt Home over 30 days. Quipt Home is related to or competes with VentriPoint Diagnostics, Reliq Health, and Microbix Biosystems. Quipt Home is entity of Canada. It is traded as Stock on TO exchange. More
Quipt Home 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 Quipt Home'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 Quipt Home Medical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 14.13 | |||
| Value At Risk | (4.71) | |||
| Potential Upside | 3.73 |
Quipt Home Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Quipt Home's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Quipt Home's standard deviation. In reality, there are many statistical measures that can use Quipt Home historical prices to predict the future Quipt Home's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | (0.26) |
Quipt Home Medical Backtested Returns
Quipt Home Medical maintains Sharpe Ratio (i.e., Efficiency) of -0.04, which implies the firm had a -0.04% return per unit of risk over the last 3 months. Quipt Home Medical exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Quipt Home's Coefficient Of Variation of (2,493), variance of 6.8, and Risk Adjusted Performance of (0.02) to confirm the risk estimate we provide. The company holds a Beta of 0.44, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Quipt Home's returns are expected to increase less than the market. However, during the bear market, the loss of holding Quipt Home is expected to be smaller as well. At this point, Quipt Home Medical has a negative expected return of -0.1%. Please make sure to check Quipt Home's treynor ratio, potential upside, and the relationship between the total risk alpha and maximum drawdown , to decide if Quipt Home Medical performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.03 |
Very weak reverse predictability
Quipt Home Medical has very weak reverse predictability. Overlapping area represents the amount of predictability between Quipt Home time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Quipt Home Medical price movement. The serial correlation of -0.03 indicates that only 3.0% of current Quipt Home price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Quipt Home Medical lagged returns against current returns
Autocorrelation, which is Quipt Home 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 Quipt Home's stock expected returns. We can calculate the autocorrelation of Quipt Home returns to help us make a trade decision. For example, suppose you find that Quipt Home 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 |
Quipt Home 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 Quipt Home stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Quipt Home stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Quipt Home stock over time.
Current vs Lagged Prices |
| Timeline |
Quipt Home Lagged Returns
When evaluating Quipt Home's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Quipt Home stock have on its future price. Quipt Home 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, Quipt Home autocorrelation shows the relationship between Quipt Home stock current value and its past values and can show if there is a momentum factor associated with investing in Quipt Home Medical.
Regressed Prices |
| Timeline |
Pair Trading with Quipt Home
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 Quipt Home 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 Quipt Home will appreciate offsetting losses from the drop in the long position's value.Moving against Quipt Stock
| 0.32 | BNS | Bank of Nova Scotia Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Quipt Home could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Quipt Home 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 Quipt Home - 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 Quipt Home Medical to buy it.
The correlation of Quipt Home 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 Quipt Home moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Quipt Home Medical 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 Quipt Home 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 Quipt Home Correlation, Quipt Home Volatility and Quipt Home Alpha and Beta module to complement your research on Quipt Home. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Quipt Home 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.