Angiodynamics Stock Market Value
| ANGO Stock | USD 7.51 0.11 1.49% |
| Symbol | AngioDynamics |
AngioDynamics Price To Book Ratio
Is Health Care Equipment & Supplies space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of AngioDynamics. If investors know AngioDynamics will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about AngioDynamics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (4.59) | Revenue Per Share 7.564 | Quarterly Revenue Growth (0.22) | Return On Assets (0.06) | Return On Equity (0.63) |
The market value of AngioDynamics is measured differently than its book value, which is the value of AngioDynamics that is recorded on the company's balance sheet. Investors also form their own opinion of AngioDynamics' value that differs from its market value or its book value, called intrinsic value, which is AngioDynamics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because AngioDynamics' market value can be influenced by many factors that don't directly affect AngioDynamics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between AngioDynamics' value and its price as these two are different measures arrived at by different means. Investors typically determine if AngioDynamics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AngioDynamics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
AngioDynamics '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 AngioDynamics' 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 AngioDynamics.
| 10/02/2023 |
| 09/26/2024 |
If you would invest 0.00 in AngioDynamics on October 2, 2023 and sell it all today you would earn a total of 0.00 from holding AngioDynamics or generate 0.0% return on investment in AngioDynamics over 360 days. AngioDynamics is related to or competes with AptarGroup, Repro Med, AtriCure, Akoya Biosciences, ICU Medical, Haemonetics, and Merit Medical. AngioDynamics, Inc. designs, manufactures, and sells various medical, surgical, and diagnostic devices used by professio... More
AngioDynamics 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 AngioDynamics' 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 AngioDynamics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.62 | |||
| Information Ratio | 0.093 | |||
| Maximum Drawdown | 33.0 | |||
| Value At Risk | (4.78) | |||
| Potential Upside | 4.91 |
AngioDynamics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AngioDynamics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AngioDynamics' standard deviation. In reality, there are many statistical measures that can use AngioDynamics historical prices to predict the future AngioDynamics' volatility.| Risk Adjusted Performance | 0.102 | |||
| Jensen Alpha | 0.2759 | |||
| Total Risk Alpha | 0.0279 | |||
| Sortino Ratio | 0.148 | |||
| Treynor Ratio | 0.2066 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of AngioDynamics' 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.
AngioDynamics Backtested Returns
AngioDynamics appears to be slightly risky, given 3 months investment horizon. AngioDynamics secures Sharpe Ratio (or Efficiency) of 0.0997, which signifies that the company had a 0.0997% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for AngioDynamics, which you can use to evaluate the volatility of the firm. Please makes use of AngioDynamics' mean deviation of 2.32, and Risk Adjusted Performance of 0.102 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, AngioDynamics holds a performance score of 7. The firm shows a Beta (market volatility) of 2.3, which signifies 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, AngioDynamics will likely underperform. Please check AngioDynamics' value at risk, and the relationship between the jensen alpha and skewness , to make a quick decision on whether AngioDynamics' price patterns will revert.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
AngioDynamics has almost perfect reverse predictability. Overlapping area represents the amount of predictability between AngioDynamics time series from 2nd of October 2023 to 30th of March 2024 and 30th of March 2024 to 26th of September 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 AngioDynamics price movement. The serial correlation of -0.72 indicates that around 72.0% of current AngioDynamics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.54 |
AngioDynamics lagged returns against current returns
Autocorrelation, which is AngioDynamics 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 AngioDynamics' stock expected returns. We can calculate the autocorrelation of AngioDynamics returns to help us make a trade decision. For example, suppose you find that AngioDynamics 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 |
AngioDynamics 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 AngioDynamics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AngioDynamics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AngioDynamics stock over time.
Current vs Lagged Prices |
| Timeline |
AngioDynamics Lagged Returns
When evaluating AngioDynamics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AngioDynamics stock have on its future price. AngioDynamics 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, AngioDynamics autocorrelation shows the relationship between AngioDynamics stock current value and its past values and can show if there is a momentum factor associated with investing in AngioDynamics.
Regressed Prices |
| Timeline |
Pair Trading with AngioDynamics
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 AngioDynamics 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 AngioDynamics will appreciate offsetting losses from the drop in the long position's value.Moving together with AngioDynamics Stock
Moving against AngioDynamics Stock
| 0.58 | DRIO | DarioHealth Corp | PairCorr |
| 0.55 | EDAP | EDAP TMS SA | PairCorr |
| 0.33 | AGL | agilon health | PairCorr |
| 0.33 | MCK | McKesson Sell-off Trend | PairCorr |
The ability to find closely correlated positions to AngioDynamics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AngioDynamics 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 AngioDynamics - 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 AngioDynamics to buy it.
The correlation of AngioDynamics 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 AngioDynamics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AngioDynamics 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 AngioDynamics 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.Additional Information and Resources on Investing in AngioDynamics Stock
When determining whether AngioDynamics offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of AngioDynamics' 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 Angiodynamics Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Angiodynamics Stock:Check out AngioDynamics Correlation, AngioDynamics Volatility and AngioDynamics Alpha and Beta module to complement your research on AngioDynamics. To learn how to invest in AngioDynamics Stock, please use our How to Invest in AngioDynamics guide.You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
AngioDynamics 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.