Caredx Inc Stock Market Value
| CDNA Stock | USD 20.93 0.32 1.55% |
| Symbol | Caredx |
Caredx Inc Price To Book Ratio
Is Biotechnology 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 Caredx. If investors know Caredx 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 Caredx listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (2.69) | Revenue Per Share 5.952 | Quarterly Revenue Growth 0.234 | Return On Assets (0.07) | Return On Equity (0.43) |
The market value of Caredx Inc is measured differently than its book value, which is the value of Caredx that is recorded on the company's balance sheet. Investors also form their own opinion of Caredx's value that differs from its market value or its book value, called intrinsic value, which is Caredx's 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 Caredx's market value can be influenced by many factors that don't directly affect Caredx's 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 Caredx's value and its price as these two are different measures arrived at by different means. Investors typically determine if Caredx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Caredx's 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.
Caredx '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 Caredx'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 Caredx.
| 11/23/2024 |
| 12/23/2024 |
If you would invest 0.00 in Caredx on November 23, 2024 and sell it all today you would earn a total of 0.00 from holding Caredx Inc or generate 0.0% return on investment in Caredx over 30 days. Caredx is related to or competes with Fate Therapeutics, Sana Biotechnology, Caribou Biosciences, Arcus Biosciences, Karyopharm Therapeutics, X4 Pharmaceuticals, and Hookipa Pharma. CareDx, Inc. discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwi... More
Caredx 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 Caredx'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 Caredx Inc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 24.22 | |||
| Value At Risk | (6.49) | |||
| Potential Upside | 4.24 |
Caredx Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Caredx's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Caredx's standard deviation. In reality, there are many statistical measures that can use Caredx historical prices to predict the future Caredx's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.53) | |||
| Total Risk Alpha | (0.60) | |||
| Treynor Ratio | (0.39) |
Caredx Inc Backtested Returns
Caredx Inc secures Sharpe Ratio (or Efficiency) of -0.11, which signifies that the company had a -0.11% return per unit of risk over the last 3 months. Caredx Inc exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Caredx's Mean Deviation of 2.62, standard deviation of 3.79, and Risk Adjusted Performance of (0.09) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.26, 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, Caredx will likely underperform. At this point, Caredx Inc has a negative expected return of -0.41%. Please make sure to confirm Caredx's kurtosis, day median price, and the relationship between the potential upside and daily balance of power , to decide if Caredx Inc performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.26 |
Weak reverse predictability
Caredx Inc has weak reverse predictability. Overlapping area represents the amount of predictability between Caredx time series from 23rd of November 2024 to 8th of December 2024 and 8th of December 2024 to 23rd 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 Caredx Inc price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Caredx price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 2.42 |
Caredx Inc lagged returns against current returns
Autocorrelation, which is Caredx 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 Caredx's stock expected returns. We can calculate the autocorrelation of Caredx returns to help us make a trade decision. For example, suppose you find that Caredx 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 |
Caredx 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 Caredx stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Caredx stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Caredx stock over time.
Current vs Lagged Prices |
| Timeline |
Caredx Lagged Returns
When evaluating Caredx's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Caredx stock have on its future price. Caredx 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, Caredx autocorrelation shows the relationship between Caredx stock current value and its past values and can show if there is a momentum factor associated with investing in Caredx Inc.
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.When determining whether Caredx Inc offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Caredx'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 Caredx Inc Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Caredx Inc Stock:Check out Caredx Correlation, Caredx Volatility and Caredx Alpha and Beta module to complement your research on Caredx. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Caredx 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.