PROVIDENCE HEALTH SVCS Market Value
| 743756AE8 | 79.10 0.00 0.00% |
| Symbol | PROVIDENCE |
PROVIDENCE '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 PROVIDENCE'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 PROVIDENCE.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in PROVIDENCE on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding PROVIDENCE HEALTH SVCS or generate 0.0% return on investment in PROVIDENCE over 30 days. PROVIDENCE is related to or competes with Sapiens International, Perseus Mining, WT Offshore, SBM Offshore, Summa Silver, Rackspace Technology, and KNOT Offshore. More
PROVIDENCE 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 PROVIDENCE'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 PROVIDENCE HEALTH SVCS upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.91 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 8.48 | |||
| Value At Risk | (3.23) | |||
| Potential Upside | 3.23 |
PROVIDENCE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PROVIDENCE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PROVIDENCE's standard deviation. In reality, there are many statistical measures that can use PROVIDENCE historical prices to predict the future PROVIDENCE's volatility.| Risk Adjusted Performance | 0.0171 | |||
| Jensen Alpha | 0.0124 | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.4036 |
PROVIDENCE HEALTH SVCS Backtested Returns
PROVIDENCE HEALTH SVCS maintains Sharpe Ratio (i.e., Efficiency) of -0.11, which implies the entity had a -0.11% return per unit of volatility over the last 3 months. PROVIDENCE HEALTH SVCS exposes twenty-five different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PROVIDENCE's risk adjusted performance of 0.0171, and Semi Deviation of 1.87 to confirm the risk estimate we provide. The bond holds a Beta of 0.0432, which implies not very significant fluctuations relative to the market. As returns on the market increase, PROVIDENCE's returns are expected to increase less than the market. However, during the bear market, the loss of holding PROVIDENCE is expected to be smaller as well.
Auto-correlation | -0.84 |
Excellent reverse predictability
PROVIDENCE HEALTH SVCS has excellent reverse predictability. Overlapping area represents the amount of predictability between PROVIDENCE time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 PROVIDENCE HEALTH SVCS price movement. The serial correlation of -0.84 indicates that around 84.0% of current PROVIDENCE price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.84 | |
| Spearman Rank Test | -0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 1.29 |
PROVIDENCE HEALTH SVCS lagged returns against current returns
Autocorrelation, which is PROVIDENCE 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 PROVIDENCE's bond expected returns. We can calculate the autocorrelation of PROVIDENCE returns to help us make a trade decision. For example, suppose you find that PROVIDENCE 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 |
PROVIDENCE 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 PROVIDENCE bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PROVIDENCE bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PROVIDENCE bond over time.
Current vs Lagged Prices |
| Timeline |
PROVIDENCE Lagged Returns
When evaluating PROVIDENCE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PROVIDENCE bond have on its future price. PROVIDENCE 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, PROVIDENCE autocorrelation shows the relationship between PROVIDENCE bond current value and its past values and can show if there is a momentum factor associated with investing in PROVIDENCE HEALTH SVCS.
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 PROVIDENCE Bond
PROVIDENCE financial ratios help investors to determine whether PROVIDENCE 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 PROVIDENCE with respect to the benefits of owning PROVIDENCE security.