National Health (Germany) Market Value
| WX6 Stock | 59.50 1.00 1.65% |
| Symbol | National |
National Health '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 National Health'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 National Health.
| 03/15/2024 |
| 06/13/2024 |
If you would invest 0.00 in National Health on March 15, 2024 and sell it all today you would earn a total of 0.00 from holding National Health Investors or generate 0.0% return on investment in National Health over 90 days. National Health is related to or competes with Apple, Apple, Apple, Apple, Apple, Microsoft, and Microsoft. More
National Health 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 National Health'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 National Health Investors upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.61 | |||
| Information Ratio | 0.1447 | |||
| Maximum Drawdown | 5.45 | |||
| Value At Risk | (1.71) | |||
| Potential Upside | 2.54 |
National Health Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for National Health's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as National Health's standard deviation. In reality, there are many statistical measures that can use National Health historical prices to predict the future National Health's volatility.| Risk Adjusted Performance | 0.1024 | |||
| Jensen Alpha | 0.1813 | |||
| Total Risk Alpha | 0.1752 | |||
| Sortino Ratio | 0.1111 | |||
| Treynor Ratio | 0.4082 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of National Health'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.
National Health Investors Backtested Returns
We consider National Health very steady. National Health Investors has Sharpe Ratio of 0.15, which conveys that the firm had a 0.15% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for National Health, which you can use to evaluate the volatility of the firm. Please verify National Health's Mean Deviation of 0.9367, downside deviation of 1.61, and Risk Adjusted Performance of 0.1024 to check out if the risk estimate we provide is consistent with the expected return of 0.19%. National Health has a performance score of 11 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.45, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, National Health's returns are expected to increase less than the market. However, during the bear market, the loss of holding National Health is expected to be smaller as well. National Health Investors right now secures a risk of 1.27%. Please verify National Health Investors value at risk, kurtosis, period momentum indicator, as well as the relationship between the semi variance and day median price , to decide if National Health Investors will be following its current price movements.
Auto-correlation | 0.47 |
Average predictability
National Health Investors has average predictability. Overlapping area represents the amount of predictability between National Health time series from 15th of March 2024 to 29th of April 2024 and 29th of April 2024 to 13th of June 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 National Health Investors price movement. The serial correlation of 0.47 indicates that about 47.0% of current National Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.47 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.72 |
National Health Investors lagged returns against current returns
Autocorrelation, which is National Health 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 National Health's stock expected returns. We can calculate the autocorrelation of National Health returns to help us make a trade decision. For example, suppose you find that National Health 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 |
National Health 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 National Health stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if National Health stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in National Health stock over time.
Current vs Lagged Prices |
| Timeline |
National Health Lagged Returns
When evaluating National Health's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of National Health stock have on its future price. National Health 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, National Health autocorrelation shows the relationship between National Health stock current value and its past values and can show if there is a momentum factor associated with investing in National Health Investors.
Regressed Prices |
| Timeline |
Pair Trading with National Health
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 National Health 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 National Health will appreciate offsetting losses from the drop in the long position's value.Moving together with National Stock
| 0.77 | APC | Apple Inc | PairCorr |
| 0.77 | APC | Apple Inc | PairCorr |
| 0.75 | APC | Apple Inc | PairCorr |
| 0.76 | APC | Apple Inc | PairCorr |
| 0.77 | APC | Apple Inc | PairCorr |
Moving against National Stock
| 0.86 | 3HB | HYBRIGENICS A | PairCorr |
| 0.79 | BBZA | BB Biotech AG | PairCorr |
| 0.76 | BBZA | BB Biotech AG | PairCorr |
| 0.64 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.47 | GAG | GORE German Office | PairCorr |
The ability to find closely correlated positions to National Health could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace National Health 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 National Health - 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 National Health Investors to buy it.
The correlation of National Health 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 National Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if National Health Investors 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 National Health 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.Additional Tools for National Stock Analysis
When running National Health's price analysis, check to measure National Health'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 National Health is operating at the current time. Most of National Health's value examination focuses on studying past and present price action to predict the probability of National Health's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move National Health's price. Additionally, you may evaluate how the addition of National Health to your portfolios can decrease your overall portfolio volatility.