Western Digital (Germany) Market Value
| WDC Stock | EUR 69.69 3.35 5.05% |
| Symbol | Western |
Western Digital '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 Western Digital'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 Western Digital.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Western Digital on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Western Digital or generate 0.0% return on investment in Western Digital over 90 days. Western Digital is related to or competes with PRECISION DRILLING, MARKET VECTR, Fast Retailing, COSTCO WHOLESALE, and Vastned Retail. Western Digital Corporation develops, manufactures, and sells data storage devices and solutions More
Western Digital 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 Western Digital'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 Western Digital upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.19 | |||
| Information Ratio | 0.0633 | |||
| Maximum Drawdown | 11.71 | |||
| Value At Risk | (3.38) | |||
| Potential Upside | 4.91 |
Western Digital Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Western Digital's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Western Digital's standard deviation. In reality, there are many statistical measures that can use Western Digital historical prices to predict the future Western Digital's volatility.| Risk Adjusted Performance | 0.0943 | |||
| Jensen Alpha | 0.1377 | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | 0.0729 | |||
| Treynor Ratio | 0.2351 |
Western Digital Backtested Returns
Western Digital appears to be very steady, given 3 months investment horizon. Western Digital shows Sharpe Ratio of 0.11, which attests that the company had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Western Digital, which you can use to evaluate the volatility of the company. Please utilize Western Digital's Downside Deviation of 2.19, market risk adjusted performance of 0.2451, and Mean Deviation of 1.91 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Western Digital holds a performance score of 9. The firm maintains a market beta of 1.18, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Western Digital will likely underperform. Please check Western Digital's treynor ratio, value at risk, downside variance, as well as the relationship between the maximum drawdown and potential upside , to make a quick decision on whether Western Digital's historical returns will revert.
Auto-correlation | -0.13 |
Insignificant reverse predictability
Western Digital has insignificant reverse predictability. Overlapping area represents the amount of predictability between Western Digital time series from 28th of August 2024 to 12th of October 2024 and 12th of October 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 Western Digital price movement. The serial correlation of -0.13 indicates that less than 13.0% of current Western Digital price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.13 | |
| Spearman Rank Test | 0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 5.88 |
Western Digital lagged returns against current returns
Autocorrelation, which is Western Digital 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 Western Digital's stock expected returns. We can calculate the autocorrelation of Western Digital returns to help us make a trade decision. For example, suppose you find that Western Digital 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 |
Western Digital 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 Western Digital stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Western Digital stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Western Digital stock over time.
Current vs Lagged Prices |
| Timeline |
Western Digital Lagged Returns
When evaluating Western Digital's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Western Digital stock have on its future price. Western Digital 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, Western Digital autocorrelation shows the relationship between Western Digital stock current value and its past values and can show if there is a momentum factor associated with investing in Western Digital.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Western Stock
When determining whether Western Digital offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Western Digital's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Western Digital Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Western Digital Stock:Check out Western Digital Correlation, Western Digital Volatility and Western Digital Alpha and Beta module to complement your research on Western Digital. For more detail on how to invest in Western Stock please use our How to Invest in Western Digital guide.You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Western Digital 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.