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 TrendCheck current 30 days Digirad correlation with market (DOW)|
β = -0.0851
Digirad Technical Analysis
Projected Return Density Against MarketGiven 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).
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