Caretrust Reit Stock Market Value
CTRE Stock | USD 24.37 0.18 0.74% |
Symbol | CareTrust |
Is CareTrust REIT'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 CareTrust REIT. If investors know CareTrust 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 CareTrust REIT listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of CareTrust REIT is measured differently than its book value, which is the value of CareTrust that is recorded on the company's balance sheet. Investors also form their own opinion of CareTrust REIT's value that differs from its market value or its book value, called intrinsic value, which is CareTrust REIT'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 CareTrust REIT's market value can be influenced by many factors that don't directly affect CareTrust REIT'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 CareTrust REIT's value and its price as these two are different measures arrived at by different means. Investors typically determine if CareTrust REIT is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CareTrust REIT'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.
CareTrust REIT '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 CareTrust REIT'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 CareTrust REIT.
12/29/2023 |
| 03/28/2024 |
If you would invest 0.00 in CareTrust REIT on December 29, 2023 and sell it all today you would earn a total of 0.00 from holding CareTrust REIT or generate 0.0% return on investment in CareTrust REIT over 90 days. CareTrust REIT is related to or competes with Constellation Brands, Willamette Valley, Celsius Holdings, Agiliti, Duckhorn Portfolio, FactSet Research, and Marie Brizard. CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acqu... More
CareTrust REIT 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 CareTrust REIT'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 CareTrust REIT upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 1.17 | |||
Information Ratio | 0.0224 | |||
Maximum Drawdown | 8.85 | |||
Value At Risk | (1.72) | |||
Potential Upside | 1.98 |
CareTrust REIT Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CareTrust REIT's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CareTrust REIT's standard deviation. In reality, there are many statistical measures that can use CareTrust REIT historical prices to predict the future CareTrust REIT's volatility.Risk Adjusted Performance | 0.0705 | |||
Jensen Alpha | 0.0535 | |||
Total Risk Alpha | (0.17) | |||
Sortino Ratio | 0.0277 | |||
Treynor Ratio | 0.1893 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CareTrust REIT'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.
CareTrust REIT Backtested Returns
We consider CareTrust REIT very steady. CareTrust REIT secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the company had a 0.12% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for CareTrust REIT, which you can use to evaluate the volatility of the firm. Please confirm CareTrust REIT's Risk Adjusted Performance of 0.0705, downside deviation of 1.17, and Mean Deviation of 0.9525 to double-check if the risk estimate we provide is consistent with the expected return of 0.17%. CareTrust REIT has a performance score of 8 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.83, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, CareTrust REIT's returns are expected to increase less than the market. However, during the bear market, the loss of holding CareTrust REIT is expected to be smaller as well. CareTrust REIT right now shows a risk of 1.44%. Please confirm CareTrust REIT treynor ratio, kurtosis, relative strength index, as well as the relationship between the downside variance and day median price , to decide if CareTrust REIT will be following its price patterns.
Auto-correlation | -0.45 |
Modest reverse predictability
CareTrust REIT has modest reverse predictability. Overlapping area represents the amount of predictability between CareTrust REIT time series from 29th of December 2023 to 12th of February 2024 and 12th of February 2024 to 28th of March 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 CareTrust REIT price movement. The serial correlation of -0.45 indicates that just about 45.0% of current CareTrust REIT price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.45 | |
Spearman Rank Test | -0.49 | |
Residual Average | 0.0 | |
Price Variance | 0.24 |
CareTrust REIT lagged returns against current returns
Autocorrelation, which is CareTrust REIT 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 CareTrust REIT's stock expected returns. We can calculate the autocorrelation of CareTrust REIT returns to help us make a trade decision. For example, suppose you find that CareTrust REIT 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 |
CareTrust REIT 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 CareTrust REIT stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CareTrust REIT stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CareTrust REIT stock over time.
Current vs Lagged Prices |
Timeline |
CareTrust REIT Lagged Returns
When evaluating CareTrust REIT's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CareTrust REIT stock have on its future price. CareTrust REIT 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, CareTrust REIT autocorrelation shows the relationship between CareTrust REIT stock current value and its past values and can show if there is a momentum factor associated with investing in CareTrust REIT.
Regressed Prices |
Timeline |
Pair Trading with CareTrust REIT
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 CareTrust REIT 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 CareTrust REIT will appreciate offsetting losses from the drop in the long position's value.Moving together with CareTrust Stock
0.83 | WELL | Welltower Financial Report 7th of May 2024 | PairCorr |
0.73 | LTC | LTC Properties Financial Report 25th of April 2024 | PairCorr |
Moving against CareTrust Stock
0.72 | HR | Healthcare Realty Trust Financial Report 14th of May 2024 | PairCorr |
0.68 | GMRE | Global Medical REIT Financial Report 1st of May 2024 | PairCorr |
0.65 | KW | Kennedy-Wilson Holdings Financial Report 1st of May 2024 | PairCorr |
0.61 | VTR | Ventas Inc Financial Report 13th of May 2024 | PairCorr |
0.55 | UHT | Universal Health Realty | PairCorr |
The ability to find closely correlated positions to CareTrust REIT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CareTrust REIT 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 CareTrust REIT - 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 CareTrust REIT to buy it.
The correlation of CareTrust REIT 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 CareTrust REIT moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CareTrust REIT 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 CareTrust REIT 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 CareTrust REIT Correlation, CareTrust REIT Volatility and CareTrust REIT Alpha and Beta module to complement your research on CareTrust REIT. For information on how to trade CareTrust Stock refer to our How to Trade CareTrust Stock guide.You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Complementary Tools for CareTrust Stock analysis
When running CareTrust REIT's price analysis, check to measure CareTrust REIT'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 CareTrust REIT is operating at the current time. Most of CareTrust REIT's value examination focuses on studying past and present price action to predict the probability of CareTrust REIT's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CareTrust REIT's price. Additionally, you may evaluate how the addition of CareTrust REIT to your portfolios can decrease your overall portfolio volatility.
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CareTrust REIT 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.