DocCheck (Germany) Market Value
| AJ91 Stock | EUR 8.55 0.00 0.00% |
| Symbol | DocCheck |
DocCheck '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 DocCheck'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 DocCheck.
| 04/06/2024 |
| 05/06/2024 |
If you would invest 0.00 in DocCheck on April 6, 2024 and sell it all today you would earn a total of 0.00 from holding DocCheck AG or generate 0.0% return on investment in DocCheck over 30 days. DocCheck is related to or competes with Superior Plus, NMI Holdings, Origin Agritech, SIVERS SEMICONDUCTORS, Talanx AG, NorAm Drilling, and Identiv. DocCheck AG, through its subsidiaries, operates B2B portal for medical professionals in Europe More
DocCheck 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 DocCheck'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 DocCheck AG upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 9.05 | |||
| Value At Risk | (2.21) | |||
| Potential Upside | 2.81 |
DocCheck Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DocCheck's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DocCheck's standard deviation. In reality, there are many statistical measures that can use DocCheck historical prices to predict the future DocCheck's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | 0.2963 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of DocCheck's 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.
DocCheck AG Backtested Returns
DocCheck AG secures Sharpe Ratio (or Efficiency) of -0.0304, which denotes the company had a -0.0304% return per unit of standard deviation over the last 3 months. DocCheck AG exposes nineteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm DocCheck's Standard Deviation of 1.45, coefficient of variation of (2,157), and Mean Deviation of 0.8536 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.26, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning DocCheck are expected to decrease at a much lower rate. During the bear market, DocCheck is likely to outperform the market. DocCheck AG has an expected return of -0.0455%. Please make sure to confirm DocCheck AG coefficient of variation, variance, and the relationship between the mean deviation and standard deviation , to decide if DocCheck AG performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.08 |
Very weak reverse predictability
DocCheck AG has very weak reverse predictability. Overlapping area represents the amount of predictability between DocCheck time series from 6th of April 2024 to 21st of April 2024 and 21st of April 2024 to 6th of May 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 DocCheck AG price movement. The serial correlation of -0.08 indicates that barely 8.0% of current DocCheck price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.08 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
DocCheck AG lagged returns against current returns
Autocorrelation, which is DocCheck 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 DocCheck's stock expected returns. We can calculate the autocorrelation of DocCheck returns to help us make a trade decision. For example, suppose you find that DocCheck 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 |
DocCheck 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 DocCheck stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DocCheck stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DocCheck stock over time.
Current vs Lagged Prices |
| Timeline |
DocCheck Lagged Returns
When evaluating DocCheck's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DocCheck stock have on its future price. DocCheck 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, DocCheck autocorrelation shows the relationship between DocCheck stock current value and its past values and can show if there is a momentum factor associated with investing in DocCheck AG.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards DocCheck in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, DocCheck's short interest history, or implied volatility extrapolated from DocCheck options trading.
Pair Trading with DocCheck
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if DocCheck position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in DocCheck will appreciate offsetting losses from the drop in the long position's value.Moving against DocCheck Stock
| 0.52 | RFC4 | COPAUR MINERALS INC | PairCorr |
The ability to find closely correlated positions to DocCheck could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DocCheck when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DocCheck - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DocCheck AG to buy it.
The correlation of DocCheck is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DocCheck moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DocCheck AG moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for DocCheck can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out DocCheck Correlation, DocCheck Volatility and DocCheck Alpha and Beta module to complement your research on DocCheck. Note that the DocCheck AG information on this page should be used as a complementary analysis to other DocCheck's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Complementary Tools for DocCheck Stock analysis
When running DocCheck's price analysis, check to measure DocCheck's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy DocCheck is operating at the current time. Most of DocCheck's value examination focuses on studying past and present price action to predict the probability of DocCheck's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move DocCheck's price. Additionally, you may evaluate how the addition of DocCheck to your portfolios can decrease your overall portfolio volatility.
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DocCheck 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.