Digirad Risk Analysis

Digirad Corporation -- USA Stock  

USD 2.68  0.08  3.08%

Macroaxis considers Digirad extremely risky given 1 month investment horizon. Digirad secures Sharpe Ratio (or Efficiency) of 0.172 which denotes Digirad had 0.172% of return per unit of risk over the last 1 month. Our philosophy towards predicting volatility of a stock is to use all available market data together with company specific technical indicators that cannot be diversified away. By reviewing Digirad technical indicators you can presently evaluate if the expected return of 0.7695% is justified by implied risk. Please utilize Digirad Coefficient Of Variation of 587.48, Mean Deviation of 2.39 and Downside Deviation of 2.5 to check if our risk estimates are consistent with your expectations.
 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 = -0.0851
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 -0.0851 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. Moreover, Digirad Corporation has an alpha of 0.7517 implying that it can potentially generate 0.7517% excess return over DOW after adjusting for the inherited market risk (beta).
 Predicted Return Density 
      Returns 
Given the investment horizon of 30 days, the coefficient of variation of Digirad is 581.45. The daily returns are destributed with a variance of 20.02 and standard deviation of 4.47. The mean deviation of Digirad Corporation is currently at 2.21. For similar time horizon, the selected benchmark (DOW) has volatility of 0.44
α
Alpha over DOW
=0.75
β
Beta against DOW=0.09
σ
Overall volatility
=4.47
Ir
Information ratio =0.12

Actual Return Volatility

Digirad Corporation inherits 4.4744% risk (volatility on return distribution) over the 30 days horizon. DOW inherits 0.4559% risk (volatility on return distribution) over the 30 days horizon.
 Performance (%) 
      Timeline 

Market Risk Breakdown

Digirad Volatility Factors

30 Days Market Risk

Extremely risky

Chance of Distress in 24 months

Below average

30 Days Economic Sensitivity

Indifferent to market move

Total Debt

Digirad Total Debt History

Total Debt

Largest Trends

Digirad Largest Period Trend

Investment Outlook

Digirad Investment Opportunity
Digirad Corporation has a volatility of 4.47 and is 9.72 times more volatile than DOW. 41% 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 41 (%) of all global equities and portfolios over the last 30 days. Use Digirad Corporation to enhance returns of your portfolios. The stock experiences unexpected upward trend. Watch out for market signals. Check odds of Digirad to be traded at $3.22 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.