Elme Communities Stock Market Value
| ELME Stock | USD 17.99 0.20 1.12% |
| Symbol | Elme |
Elme Communities Price To Book Ratio
Is Multi-Family Residential REITs 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 Elme Communities. If investors know Elme 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 Elme Communities listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Dividend Share 0.72 | Earnings Share (0.62) | Revenue Per Share 2.677 | Quarterly Revenue Growth 0.062 | Return On Assets 0.0079 |
The market value of Elme Communities is measured differently than its book value, which is the value of Elme that is recorded on the company's balance sheet. Investors also form their own opinion of Elme Communities' value that differs from its market value or its book value, called intrinsic value, which is Elme Communities' 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 Elme Communities' market value can be influenced by many factors that don't directly affect Elme Communities' 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 Elme Communities' value and its price as these two are different measures arrived at by different means. Investors typically determine if Elme Communities is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Elme Communities' 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.
Elme Communities '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 Elme Communities' 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 Elme Communities.
| 04/26/2024 |
| 09/23/2024 |
If you would invest 0.00 in Elme Communities on April 26, 2024 and sell it all today you would earn a total of 0.00 from holding Elme Communities or generate 0.0% return on investment in Elme Communities over 150 days. Elme Communities is related to or competes with Apartment Investment, BRT Realty, UDR, Centerspace, Equity Lifestyle, and Veris Residential. Elme Communities owns and operates uniquely positioned real estate assets in the Washington Metro area More
Elme Communities 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 Elme Communities' 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 Elme Communities upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9043 | |||
| Information Ratio | 0.1441 | |||
| Maximum Drawdown | 4.33 | |||
| Value At Risk | (1.67) | |||
| Potential Upside | 2.07 |
Elme Communities Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elme Communities' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elme Communities' standard deviation. In reality, there are many statistical measures that can use Elme Communities historical prices to predict the future Elme Communities' volatility.| Risk Adjusted Performance | 0.2196 | |||
| Jensen Alpha | 0.2213 | |||
| Total Risk Alpha | 0.1172 | |||
| Sortino Ratio | 0.1586 | |||
| Treynor Ratio | 0.8099 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Elme Communities' 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.
Elme Communities Backtested Returns
Elme Communities appears to be very steady, given 3 months investment horizon. Elme Communities secures Sharpe Ratio (or Efficiency) of 0.26, which denotes the company had a 0.26% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Elme Communities, which you can use to evaluate the volatility of the firm. Please utilize Elme Communities' Mean Deviation of 0.77, coefficient of variation of 371.64, and Downside Deviation of 0.9043 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Elme Communities holds a performance score of 20. The firm shows a Beta (market volatility) of 0.32, which means possible diversification benefits within a given portfolio. As returns on the market increase, Elme Communities' returns are expected to increase less than the market. However, during the bear market, the loss of holding Elme Communities is expected to be smaller as well. Please check Elme Communities' total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to make a quick decision on whether Elme Communities' price patterns will revert.
Auto-correlation | 0.22 |
Weak predictability
Elme Communities has weak predictability. Overlapping area represents the amount of predictability between Elme Communities time series from 26th of April 2024 to 10th of July 2024 and 10th of July 2024 to 23rd 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 Elme Communities price movement. The serial correlation of 0.22 indicates that over 22.0% of current Elme Communities price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.41 |
Elme Communities lagged returns against current returns
Autocorrelation, which is Elme Communities 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 Elme Communities' stock expected returns. We can calculate the autocorrelation of Elme Communities returns to help us make a trade decision. For example, suppose you find that Elme Communities 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 |
Elme Communities 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 Elme Communities stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elme Communities stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elme Communities stock over time.
Current vs Lagged Prices |
| Timeline |
Elme Communities Lagged Returns
When evaluating Elme Communities' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elme Communities stock have on its future price. Elme Communities 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, Elme Communities autocorrelation shows the relationship between Elme Communities stock current value and its past values and can show if there is a momentum factor associated with investing in Elme Communities.
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.Additional Information and Resources on Investing in Elme Stock
When determining whether Elme Communities is a strong investment it is important to analyze Elme Communities' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Elme Communities' future performance. For an informed investment choice regarding Elme Stock, refer to the following important reports:Check out Elme Communities Correlation, Elme Communities Volatility and Elme Communities Alpha and Beta module to complement your research on Elme Communities. For information on how to trade Elme Stock refer to our How to Trade Elme Stock guide.You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Elme Communities 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.