Spirit Airlines Stock Market Value
| SAVE Stock | USD 0.13 0.02 13.33% |
| Symbol | Spirit |
Spirit Airlines Price To Book Ratio
Is Passenger Airlines 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 Spirit Airlines. If investors know Spirit 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 Spirit Airlines 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 (0.14) | Earnings Share (6.20) | Revenue Per Share 46.897 | Quarterly Revenue Growth (0.11) | Return On Assets (0.05) |
The market value of Spirit Airlines is measured differently than its book value, which is the value of Spirit that is recorded on the company's balance sheet. Investors also form their own opinion of Spirit Airlines' value that differs from its market value or its book value, called intrinsic value, which is Spirit Airlines' 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 Spirit Airlines' market value can be influenced by many factors that don't directly affect Spirit Airlines' 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 Spirit Airlines' value and its price as these two are different measures arrived at by different means. Investors typically determine if Spirit Airlines is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Spirit Airlines' 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.
Spirit Airlines '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 Spirit Airlines' 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 Spirit Airlines.
| 12/02/2022 |
| 11/21/2024 |
If you would invest 0.00 in Spirit Airlines on December 2, 2022 and sell it all today you would earn a total of 0.00 from holding Spirit Airlines or generate 0.0% return on investment in Spirit Airlines over 720 days. Spirit Airlines is related to or competes with American Airlines, Delta Air, Southwest Airlines, United Airlines, Sun Country, JetBlue Airways, and Allegiant Travel. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean More
Spirit Airlines 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 Spirit Airlines' 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 Spirit Airlines upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 112.38 | |||
| Value At Risk | (21.43) | |||
| Potential Upside | 15.29 |
Spirit Airlines Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Spirit Airlines' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Spirit Airlines' standard deviation. In reality, there are many statistical measures that can use Spirit Airlines historical prices to predict the future Spirit Airlines' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (1.89) | |||
| Total Risk Alpha | (3.73) | |||
| Treynor Ratio | (1.63) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Spirit Airlines' 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.
Spirit Airlines Backtested Returns
Spirit Airlines owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.12, which indicates the firm had a -0.12% return per unit of risk over the last 3 months. Spirit Airlines exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Spirit Airlines' Variance of 290.16, risk adjusted performance of (0.07), and Coefficient Of Variation of (953.89) to confirm the risk estimate we provide. The entity has a beta of 1.1, which indicates a somewhat significant risk relative to the market. Spirit Airlines returns are very sensitive to returns on the market. As the market goes up or down, Spirit Airlines is expected to follow. At this point, Spirit Airlines has a negative expected return of -2.05%. Please make sure to validate Spirit Airlines' value at risk and the relationship between the accumulation distribution and relative strength index , to decide if Spirit Airlines performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.58 |
Modest predictability
Spirit Airlines has modest predictability. Overlapping area represents the amount of predictability between Spirit Airlines time series from 2nd of December 2022 to 27th of November 2023 and 27th of November 2023 to 21st 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 Spirit Airlines price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Spirit Airlines price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 16.49 |
Spirit Airlines lagged returns against current returns
Autocorrelation, which is Spirit Airlines 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 Spirit Airlines' stock expected returns. We can calculate the autocorrelation of Spirit Airlines returns to help us make a trade decision. For example, suppose you find that Spirit Airlines 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 |
Spirit Airlines 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 Spirit Airlines stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Spirit Airlines stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Spirit Airlines stock over time.
Current vs Lagged Prices |
| Timeline |
Spirit Airlines Lagged Returns
When evaluating Spirit Airlines' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Spirit Airlines stock have on its future price. Spirit Airlines 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, Spirit Airlines autocorrelation shows the relationship between Spirit Airlines stock current value and its past values and can show if there is a momentum factor associated with investing in Spirit Airlines.
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.When determining whether Spirit Airlines is a strong investment it is important to analyze Spirit Airlines' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Spirit Airlines' future performance. For an informed investment choice regarding Spirit Stock, refer to the following important reports:Check out Spirit Airlines Correlation, Spirit Airlines Volatility and Spirit Airlines Alpha and Beta module to complement your research on Spirit Airlines. For information on how to trade Spirit Stock refer to our How to Trade Spirit Stock guide.You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Spirit Airlines 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.