COMMONSPIRIT HEALTH Market Value
| 20268JAC7 | 79.65 5.17 6.10% |
| Symbol | COMMONSPIRIT |
COMMONSPIRIT '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 COMMONSPIRIT's bond 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 COMMONSPIRIT.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in COMMONSPIRIT on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding COMMONSPIRIT HEALTH or generate 0.0% return on investment in COMMONSPIRIT over 90 days. COMMONSPIRIT is related to or competes with Electrovaya Common, SBM Offshore, Inflection Point, Kandi Technologies, Tesla, BCE, and SFL. More
COMMONSPIRIT 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 COMMONSPIRIT's bond 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 COMMONSPIRIT HEALTH upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 8.34 | |||
| Value At Risk | (2.65) | |||
| Potential Upside | 2.88 |
COMMONSPIRIT Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for COMMONSPIRIT's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as COMMONSPIRIT's standard deviation. In reality, there are many statistical measures that can use COMMONSPIRIT historical prices to predict the future COMMONSPIRIT's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.35) | |||
| Treynor Ratio | (1.84) |
COMMONSPIRIT HEALTH Backtested Returns
COMMONSPIRIT HEALTH secures Sharpe Ratio (or Efficiency) of -0.0589, which signifies that the bond had a -0.0589% return per unit of risk over the last 3 months. COMMONSPIRIT HEALTH exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm COMMONSPIRIT's risk adjusted performance of (0.04), and Mean Deviation of 1.09 to double-check the risk estimate we provide. The bond shows a Beta (market volatility) of 0.0511, which signifies not very significant fluctuations relative to the market. As returns on the market increase, COMMONSPIRIT's returns are expected to increase less than the market. However, during the bear market, the loss of holding COMMONSPIRIT is expected to be smaller as well.
Auto-correlation | -0.04 |
Very weak reverse predictability
COMMONSPIRIT HEALTH has very weak reverse predictability. Overlapping area represents the amount of predictability between COMMONSPIRIT time series from 2nd of September 2024 to 17th of October 2024 and 17th of October 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 COMMONSPIRIT HEALTH price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current COMMONSPIRIT price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 1.5 |
COMMONSPIRIT HEALTH lagged returns against current returns
Autocorrelation, which is COMMONSPIRIT bond'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 COMMONSPIRIT's bond expected returns. We can calculate the autocorrelation of COMMONSPIRIT returns to help us make a trade decision. For example, suppose you find that COMMONSPIRIT has exhibited high autocorrelation historically, and you observe that the bond 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 |
COMMONSPIRIT 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 COMMONSPIRIT bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if COMMONSPIRIT bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in COMMONSPIRIT bond over time.
Current vs Lagged Prices |
| Timeline |
COMMONSPIRIT Lagged Returns
When evaluating COMMONSPIRIT's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of COMMONSPIRIT bond have on its future price. COMMONSPIRIT 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, COMMONSPIRIT autocorrelation shows the relationship between COMMONSPIRIT bond current value and its past values and can show if there is a momentum factor associated with investing in COMMONSPIRIT HEALTH.
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.Other Information on Investing in COMMONSPIRIT Bond
COMMONSPIRIT financial ratios help investors to determine whether COMMONSPIRIT Bond is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in COMMONSPIRIT with respect to the benefits of owning COMMONSPIRIT security.