CUMMINS INC 4875 Market Value
| 231021AQ9 | 100.81 4.77 4.97% |
| Symbol | CUMMINS |
CUMMINS '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 CUMMINS'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 CUMMINS.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in CUMMINS on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding CUMMINS INC 4875 or generate 0.0% return on investment in CUMMINS over 90 days. CUMMINS is related to or competes with 00108WAF7, 90331HPL1, Bank of America, GE Aerospace, Dupont De, International Business, and McDonalds. More
CUMMINS 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 CUMMINS'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 CUMMINS INC 4875 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.79 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 9.72 | |||
| Value At Risk | (2.98) | |||
| Potential Upside | 3.03 |
CUMMINS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CUMMINS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CUMMINS's standard deviation. In reality, there are many statistical measures that can use CUMMINS historical prices to predict the future CUMMINS's volatility.| Risk Adjusted Performance | 0.039 | |||
| Jensen Alpha | 0.1282 | |||
| Total Risk Alpha | (0.28) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.24) |
CUMMINS INC 4875 Backtested Returns
At this point, CUMMINS is very steady. CUMMINS INC 4875 secures Sharpe Ratio (or Efficiency) of 0.061, which signifies that the bond had a 0.061% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for CUMMINS INC 4875, which you can use to evaluate the volatility of the entity. Please confirm CUMMINS's mean deviation of 1.35, and Risk Adjusted Performance of 0.039 to double-check if the risk estimate we provide is consistent with the expected return of 0.0882%. The bond shows a Beta (market volatility) of -0.35, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning CUMMINS are expected to decrease at a much lower rate. During the bear market, CUMMINS is likely to outperform the market.
Auto-correlation | -0.56 |
Good reverse predictability
CUMMINS INC 4875 has good reverse predictability. Overlapping area represents the amount of predictability between CUMMINS 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 CUMMINS INC 4875 price movement. The serial correlation of -0.56 indicates that roughly 56.0% of current CUMMINS price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 3.02 |
CUMMINS INC 4875 lagged returns against current returns
Autocorrelation, which is CUMMINS 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 CUMMINS's bond expected returns. We can calculate the autocorrelation of CUMMINS returns to help us make a trade decision. For example, suppose you find that CUMMINS 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 |
CUMMINS 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 CUMMINS bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CUMMINS bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CUMMINS bond over time.
Current vs Lagged Prices |
| Timeline |
CUMMINS Lagged Returns
When evaluating CUMMINS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CUMMINS bond have on its future price. CUMMINS 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, CUMMINS autocorrelation shows the relationship between CUMMINS bond current value and its past values and can show if there is a momentum factor associated with investing in CUMMINS INC 4875.
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 CUMMINS Bond
CUMMINS financial ratios help investors to determine whether CUMMINS 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 CUMMINS with respect to the benefits of owning CUMMINS security.