Asiri Hospital (Sri Lanka) Market Value
ASIRN0000 | LKR 24.00 0.40 1.64% |
Symbol | Asiri |
Please note, there is a significant difference between Asiri Hospital's value and its price as these two are different measures arrived at by different means. Investors typically determine if Asiri Hospital is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Asiri Hospital's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Asiri Hospital '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 Asiri Hospital'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 Asiri Hospital.
03/31/2024 |
| 04/30/2024 |
If you would invest 0.00 in Asiri Hospital on March 31, 2024 and sell it all today you would earn a total of 0.00 from holding Asiri Hospital Holdings or generate 0.0% return on investment in Asiri Hospital over 30 days. More
Asiri Hospital 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 Asiri Hospital'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 Asiri Hospital Holdings upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.08) | |||
Maximum Drawdown | 11.81 | |||
Value At Risk | (2.76) | |||
Potential Upside | 3.75 |
Asiri Hospital Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Asiri Hospital's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Asiri Hospital's standard deviation. In reality, there are many statistical measures that can use Asiri Hospital historical prices to predict the future Asiri Hospital's volatility.Risk Adjusted Performance | (0.02) | |||
Jensen Alpha | (0.05) | |||
Total Risk Alpha | (0.35) | |||
Treynor Ratio | 0.1731 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Asiri Hospital'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.
Asiri Hospital Holdings Backtested Returns
Asiri Hospital Holdings secures Sharpe Ratio (or Efficiency) of -0.0101, which signifies that the company had a -0.0101% return per unit of risk over the last 3 months. Asiri Hospital Holdings exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Asiri Hospital's Risk Adjusted Performance of (0.02), mean deviation of 1.48, and Standard Deviation of 2.11 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.5, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Asiri Hospital are expected to decrease at a much lower rate. During the bear market, Asiri Hospital is likely to outperform the market. Asiri Hospital Holdings has an expected return of -0.0189%. Please make sure to confirm Asiri Hospital Holdings maximum drawdown, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Asiri Hospital Holdings performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.35 |
Poor reverse predictability
Asiri Hospital Holdings has poor reverse predictability. Overlapping area represents the amount of predictability between Asiri Hospital time series from 31st of March 2024 to 15th of April 2024 and 15th of April 2024 to 30th of April 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 Asiri Hospital Holdings price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Asiri Hospital price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.35 | |
Spearman Rank Test | -0.53 | |
Residual Average | 0.0 | |
Price Variance | 0.05 |
Asiri Hospital Holdings lagged returns against current returns
Autocorrelation, which is Asiri Hospital 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 Asiri Hospital's stock expected returns. We can calculate the autocorrelation of Asiri Hospital returns to help us make a trade decision. For example, suppose you find that Asiri Hospital 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 |
Asiri Hospital 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 Asiri Hospital stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Asiri Hospital stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Asiri Hospital stock over time.
Current vs Lagged Prices |
Timeline |
Asiri Hospital Lagged Returns
When evaluating Asiri Hospital's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Asiri Hospital stock have on its future price. Asiri Hospital 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, Asiri Hospital autocorrelation shows the relationship between Asiri Hospital stock current value and its past values and can show if there is a momentum factor associated with investing in Asiri Hospital Holdings.
Regressed Prices |
Timeline |
Pair Trading with Asiri Hospital
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 Asiri Hospital 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 Asiri Hospital will appreciate offsetting losses from the drop in the long position's value.Moving against Asiri Stock
0.45 | SFCLN0000 | Senkadagala Finance PLC | PairCorr |
The ability to find closely correlated positions to Asiri Hospital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Asiri Hospital 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 Asiri Hospital - 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 Asiri Hospital Holdings to buy it.
The correlation of Asiri Hospital 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 Asiri Hospital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asiri Hospital Holdings 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 Asiri Hospital 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 Asiri Hospital Correlation, Asiri Hospital Volatility and Asiri Hospital Alpha and Beta module to complement your research on Asiri Hospital. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Complementary Tools for Asiri Stock analysis
When running Asiri Hospital's price analysis, check to measure Asiri Hospital'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 Asiri Hospital is operating at the current time. Most of Asiri Hospital's value examination focuses on studying past and present price action to predict the probability of Asiri Hospital's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Asiri Hospital's price. Additionally, you may evaluate how the addition of Asiri Hospital to your portfolios can decrease your overall portfolio volatility.
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Asiri Hospital 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.