Projected Return Density against MarketAssuming 30 trading days horizon, the stock has beta coefficient of 1.22 . This implies as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are expected to be negative, Probiotec will likely underperform. Moreover, Probiotec Limited has alpha of 0.8273 implying that it can potentially generate 0.8273% excess return over S&P 500 after adjusting for the inherited market risk (beta). Assuming 30 trading days horizon, the coefficient of variation of Probiotec is 397.01. The daily returns are destributed with a variance of 16.28 and standard deviation of 4.04. The mean deviation of Probiotec Limited is currently at 2.55. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.52
Actual Return VolatilityProbiotec Limited assumes 4.03% volatility of returns over the 30 days investment horizon. S&P 500 shows 0.52% volatility of returns over 30 trading days.
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Probiotec Limited has a volatility of 4.03 and is 7.75 times more volatile than S&P 500. 43% of all equities and portfolios are less risky than Probiotec. Compared with the overall equity markets, volatility of historical daily returns of Probiotec Limited is lower than 43 (%) of all global equities and portfolios over the last 30 days. Use Probiotec Limited to protect against small markets fluctuations. The stock experiences normal downward trend, but the immediate impact on correlations cannot be determined at the moment . Check odds of Probiotec to be traded at A$0.4158 in 30 days. As market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Probiotec will likely underperform.
Probiotec correlation with market
Probiotec Current Risk Indicators
Suggested Divercification Pairs