Align Technology Backtesting

ALGN -- USA Stock  

USD 177.47  2.85  1.63%

With this equity back-testing module your can estimate the performance of a buy and hold strategy of Align Technology and determine expected loss or profit from investing in Align Technology over given investment horizon. Check also Align Technology Hype Analysis, Align Technology Correlation, Align Technology Valuation, Align Technology Volatility as well as analyze Align Technology Alpha and Beta and Align Technology Performance.
Horizon     30 Days    Login   to change
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Backtest

Align Technology 'What if' Analysis

June 17, 2019
0.00
No Change 0.00  0.0%
In 3 months and 1 day
September 15, 2019
0.00
If you would invest  0.00  in Align Technology on June 17, 2019 and sell it all today you would earn a total of 0.00 from holding Align Technology or generate 0.0% return on investment in Align Technology over 90 days. Align Technology is related to or competes with Electromed, ENCISION INC, Establishment Labs, Digirad, Dynatronics, ESCALON MEDICAL, and Second Sight. Align Technology, Inc., a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero...

Align Technology Upside/Downside Indicators

Information Ratio(0.19)
Maximum Drawdown31.07
Value At Risk(4.10)
Potential Upside2.68

Align Technology Market Premium Indicators

Risk Adjusted Performance(0.15)
Jensen Alpha(0.73)
Total Risk Alpha(0.81)
Treynor Ratio(0.48)

Align Technology Backtested Returns

Macroaxis considers Align Technology to be very steady. Align Technology secures Sharpe Ratio (or Efficiency) of -0.1743 which signifies that the organization had -0.1743% of return per unit of risk over the last 3 months. Macroaxis philosophy towards foreseeing risk of any stock is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators. Align Technology exposes twenty-one different technical indicators which can help you to evaluate volatility that cannot be diversified away. Please be advised to confirm Align Technology Risk Adjusted Performance of (0.15) and Mean Deviation of 1.83 to double-check risk estimate we provide. The firm shows Beta (market volatility) of 1.4238 which signifies that as market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Align Technology will likely underperform. Even though it is essential to pay attention to Align Technology historical returns, it is always good to be careful when utilizing equity current trending patterns. Macroaxis philosophy towards foreseeing future performance of any stock is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Align Technology exposes twenty-one different technical indicators which can help you to evaluate its performance. Align Technology has expected return of -0.6718%. Please be advised to confirm Align Technology Variance as well as the relationship between Maximum Drawdown and Semi Variance to decide if Align Technology past performance will be repeated at some point in the near future.
Advice Volatility Trend Exposure Correlations
15 days auto-correlation 0.29 
correlation synergy

Poor predictability

Align Technology has poor predictability. Overlapping area represents the amount of predictability between Align Technology time series from June 17, 2019 to August 1, 2019 and August 1, 2019 to September 15, 2019. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Align Technology price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Align Technology price fluctuation can be explain by its past prices.
Correlation Coefficient0.29
Spearman Rank Test0.28
Residual Average0.0
Price Variance46.37

Align Technology lagged returns against current returns

 Current and Lagged Values 
      Timeline 

Align Technology regressed lagged prices vs. current prices

 Current vs Lagged Prices 
      Timeline 

Align Technology Lagged Returns

 Regressed Prices 
      Timeline 

Current Sentiment - ALGN

Align Technology Investor Sentiment

Most of Macroaxis users are presently bullish on Align Technology. What is your sentiment towards investing in Align Technology? Are you bullish or bearish?
Bullish
Bearish
98% Bullish
2% Bearish
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Align Technology Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for Align Technology and Electromed. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
Run Pair Correlation  
Check also Align Technology Hype Analysis, Align Technology Correlation, Align Technology Valuation, Align Technology Volatility as well as analyze Align Technology Alpha and Beta and Align Technology Performance. Please also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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