Digirad Risk Analysis And Volatility Evaluation

DRAD -- USA Stock  

USD 1.60  0.025  1.54%

Macroaxis considers Digirad to be unusually risky. Digirad secures Sharpe Ratio (or Efficiency) of -0.0571 which denotes Digirad had -0.0571% of return per unit of risk over the last 1 month. Macroaxis philosophy towards predicting risk of any stock is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators. Digirad Corporation exposes twenty-one different technical indicators which can help you to evaluate volatility that cannot be diversified away. Please be advised to confirm Digirad Coefficient Of Variation of 1,204 and Mean Deviation of 1.73 to check risk estimate we provide.
 Time Horizon     30 Days    Login   to change

Digirad Market Sensitivity

As returns on market increase, returns on owning Digirad are expected to decrease at a much smaller rate. During bear market, Digirad is likely to outperform the market.
One Month Beta |Analyze Digirad Demand Trend
Check current 30 days Digirad correlation with market (DOW)
β = -0.4998
Digirad Almost negative betaDigirad Beta Legend

Digirad Technical Analysis

Transformation
The output start index for this execution was zero with a total number of output elements of seventeen. Digirad Average Price is the average of the sum of open, high, low and close daily prices of a bar. It can be used to smooth an indicator that normally takes just the closing price as input. View also all equity analysis or get more info about average price price transform indicator.

Projected Return Density Against Market

Given the investment horizon of 30 days, Digirad Corporation has beta of -0.4998 suggesting as returns on benchmark increase, returns on holding Digirad are expected to decrease at a much smaller rate. During bear market, however, Digirad Corporation is likely to outperform the market. Additionally, Digirad Corporation has a negative alpha implying that the risk taken by holding this equity is not justified. The company is significantly underperforming DOW
 Predicted Return Density 
      Returns 
Given the investment horizon of 30 days, the coefficient of variation of Digirad is -1750.24. The daily returns are destributed with a variance of 5.11 and standard deviation of 2.26. The mean deviation of Digirad Corporation is currently at 1.69. For similar time horizon, the selected benchmark (DOW) has volatility of 0.46
α
Alpha over DOW
=0.14
β
Beta against DOW=0.5
σ
Overall volatility
=2.26
Ir
Information ratio =0.14

Actual Return Volatility

Digirad Corporation inherits 2.2612% risk (volatility on return distribution) over the 30 days horizon. DOW inherits 0.5115% risk (volatility on return distribution) over the 30 days horizon.
 Performance (%) 
      Timeline 

Market Risk Breakdown

Digirad Volatility Factors

30 Days Market Risk

Unusually risky

Chance of Distress in 24 months

About average

30 Days Economic Sensitivity

Almost neglects market

Investment Outlook

Digirad Investment Opportunity
Digirad Corporation has a volatility of 2.26 and is 4.43 times more volatile than DOW. 20% of all equities and portfolios are less risky than Digirad. Compared to the overall equity markets, volatility of historical daily returns of Digirad Corporation is lower than 20 (%) of all global equities and portfolios over the last 30 days. Use Digirad Corporation to protect against small markets fluctuations. The stock experiences somewhat bearish sentiment, but market may correct it shortly. Check odds of Digirad to be traded at $1.552 in 30 days. As returns on market increase, returns on owning Digirad are expected to decrease at a much smaller rate. During bear market, Digirad is likely to outperform the market.

Digirad correlation with market

Good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Digirad Corp. and equity matching DJI index in the same portfolio.
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