Cognex Stock Market Value
| CGNX Stock | USD 38.69 0.52 1.33% |
| Symbol | Cognex |
Cognex Price To Book Ratio
Is Cognex's industry 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 Cognex. If investors know Cognex 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 Cognex listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.81) | Dividend Share 0.285 | Earnings Share 0.65 | Revenue Per Share 4.862 | Quarterly Revenue Growth (0.18) |
The market value of Cognex is measured differently than its book value, which is the value of Cognex that is recorded on the company's balance sheet. Investors also form their own opinion of Cognex's value that differs from its market value or its book value, called intrinsic value, which is Cognex'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 Cognex's market value can be influenced by many factors that don't directly affect Cognex'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 Cognex's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cognex is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cognex'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.
Cognex '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 Cognex'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 Cognex.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Cognex on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Cognex or generate 0.0% return on investment in Cognex over 30 days. Cognex is related to or competes with ESCO Technologies, Genasys, and MKS Instruments. Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate man... More
Cognex 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 Cognex'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 Cognex upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.78 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 9.66 | |||
| Value At Risk | (3.12) | |||
| Potential Upside | 3.11 |
Cognex Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cognex's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cognex's standard deviation. In reality, there are many statistical measures that can use Cognex historical prices to predict the future Cognex's volatility.| Risk Adjusted Performance | 0.022 | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0187 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cognex'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.
Cognex Backtested Returns
We consider Cognex very steady. Cognex secures Sharpe Ratio (or Efficiency) of 0.0206, which signifies that the company had a 0.0206% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Cognex, which you can use to evaluate the volatility of the firm. Please confirm Cognex's Mean Deviation of 1.45, risk adjusted performance of 0.022, and Downside Deviation of 1.78 to double-check if the risk estimate we provide is consistent with the expected return of 0.0394%. Cognex has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 2.01, 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, Cognex will likely underperform. Cognex right now shows a risk of 1.91%. Please confirm Cognex downside variance, and the relationship between the total risk alpha and daily balance of power , to decide if Cognex will be following its price patterns.
Auto-correlation | 0.66 |
Good predictability
Cognex has good predictability. Overlapping area represents the amount of predictability between Cognex time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 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 Cognex price movement. The serial correlation of 0.66 indicates that around 66.0% of current Cognex price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.92 |
Cognex lagged returns against current returns
Autocorrelation, which is Cognex 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 Cognex's stock expected returns. We can calculate the autocorrelation of Cognex returns to help us make a trade decision. For example, suppose you find that Cognex 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 |
Cognex 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 Cognex stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cognex stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cognex stock over time.
Current vs Lagged Prices |
| Timeline |
Cognex Lagged Returns
When evaluating Cognex's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cognex stock have on its future price. Cognex 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, Cognex autocorrelation shows the relationship between Cognex stock current value and its past values and can show if there is a momentum factor associated with investing in Cognex.
Regressed Prices |
| Timeline |
Pair Trading with Cognex
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 Cognex 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 Cognex will appreciate offsetting losses from the drop in the long position's value.Moving together with Cognex Stock
| 0.77 | DYSL | Dynasil Of | PairCorr |
Moving against Cognex Stock
| 0.74 | WRAP | Wrap Technologies | PairCorr |
| 0.71 | LUNA | Luna Innovations rporated Financial Report 14th of May 2024 | PairCorr |
| 0.62 | FCUV | Focus Universal | PairCorr |
| 0.54 | MIND | Mind Technology | PairCorr |
| 0.49 | FARO | FARO Technologies Financial Report 1st of May 2024 | PairCorr |
The ability to find closely correlated positions to Cognex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cognex 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 Cognex - 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 Cognex to buy it.
The correlation of Cognex 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 Cognex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cognex 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 Cognex 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 Cognex Correlation, Cognex Volatility and Cognex Alpha and Beta module to complement your research on Cognex. For more information on how to buy Cognex Stock please use our How to Invest in Cognex guide.You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Complementary Tools for Cognex Stock analysis
When running Cognex's price analysis, check to measure Cognex'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 Cognex is operating at the current time. Most of Cognex's value examination focuses on studying past and present price action to predict the probability of Cognex's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cognex's price. Additionally, you may evaluate how the addition of Cognex to your portfolios can decrease your overall portfolio volatility.
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |
Cognex 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.