Danaher (Brazil) Market Value
| DHER34 Stock | BRL 46.70 0.73 1.59% |
| Symbol | Danaher |
Danaher '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 Danaher'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 Danaher.
| 02/12/2024 |
| 05/12/2024 |
If you would invest 0.00 in Danaher on February 12, 2024 and sell it all today you would earn a total of 0.00 from holding Danaher or generate 0.0% return on investment in Danaher over 90 days. Danaher is related to or competes with Thermo Fisher, Agilent Technologies, Diagnsticos, and Centro De. Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and se... More
Danaher 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 Danaher'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 Danaher upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.12 | |||
| Information Ratio | 0.0177 | |||
| Maximum Drawdown | 7.3 | |||
| Value At Risk | (1.75) | |||
| Potential Upside | 2.04 |
Danaher Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Danaher's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Danaher's standard deviation. In reality, there are many statistical measures that can use Danaher historical prices to predict the future Danaher's volatility.| Risk Adjusted Performance | 0.0563 | |||
| Jensen Alpha | 0.0919 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0201 | |||
| Treynor Ratio | 1.77 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Danaher'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.
Danaher Backtested Returns
We consider Danaher very steady. Danaher secures Sharpe Ratio (or Efficiency) of 0.0838, which denotes the company had a 0.0838% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Danaher, which you can use to evaluate the volatility of the firm. Please confirm Danaher's Mean Deviation of 0.8786, downside deviation of 1.12, and Coefficient Of Variation of 1205.8 to check if the risk estimate we provide is consistent with the expected return of 0.11%. Danaher has a performance score of 6 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.0541, which means not very significant fluctuations relative to the market. As returns on the market increase, Danaher's returns are expected to increase less than the market. However, during the bear market, the loss of holding Danaher is expected to be smaller as well. Danaher right now shows a risk of 1.28%. Please confirm Danaher standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to decide if Danaher will be following its price patterns.
Auto-correlation | -0.02 |
Very weak reverse predictability
Danaher has very weak reverse predictability. Overlapping area represents the amount of predictability between Danaher time series from 12th of February 2024 to 28th of March 2024 and 28th of March 2024 to 12th of May 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 Danaher price movement. The serial correlation of -0.02 indicates that only 2.0% of current Danaher price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 0.68 |
Danaher lagged returns against current returns
Autocorrelation, which is Danaher 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 Danaher's stock expected returns. We can calculate the autocorrelation of Danaher returns to help us make a trade decision. For example, suppose you find that Danaher 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 |
Danaher 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 Danaher stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Danaher stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Danaher stock over time.
Current vs Lagged Prices |
| Timeline |
Danaher Lagged Returns
When evaluating Danaher's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Danaher stock have on its future price. Danaher 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, Danaher autocorrelation shows the relationship between Danaher stock current value and its past values and can show if there is a momentum factor associated with investing in Danaher.
Regressed Prices |
| Timeline |
Pair Trading with Danaher
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 Danaher 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 Danaher will appreciate offsetting losses from the drop in the long position's value.Moving together with Danaher Stock
| 0.64 | TMOS34 | Thermo Fisher Scientific | PairCorr |
The ability to find closely correlated positions to Danaher could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Danaher 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 Danaher - 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 Danaher to buy it.
The correlation of Danaher 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 Danaher moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Danaher 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 Danaher 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 Danaher Correlation, Danaher Volatility and Danaher Alpha and Beta module to complement your research on Danaher. For information on how to trade Danaher Stock refer to our How to Trade Danaher Stock guide.Note that the Danaher information on this page should be used as a complementary analysis to other Danaher's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Complementary Tools for Danaher Stock analysis
When running Danaher's price analysis, check to measure Danaher'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 Danaher is operating at the current time. Most of Danaher's value examination focuses on studying past and present price action to predict the probability of Danaher's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Danaher's price. Additionally, you may evaluate how the addition of Danaher to your portfolios can decrease your overall portfolio volatility.
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Danaher 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.