Electromed Stock Market Value
| ELMD Stock | USD 15.72 1.22 8.41% |
| Symbol | Electromed |
Electromed Price To Book Ratio
Is Electromed's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Electromed. If investors know Electromed will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Electromed listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.727 | Earnings Share 0.45 | Revenue Per Share 6.072 | Quarterly Revenue Growth 0.167 | Return On Assets 0.0721 |
The market value of Electromed is measured differently than its book value, which is the value of Electromed that is recorded on the company's balance sheet. Investors also form their own opinion of Electromed's value that differs from its market value or its book value, called intrinsic value, which is Electromed's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Electromed's market value can be influenced by many factors that don't directly affect Electromed's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Electromed's value and its price as these two are different measures arrived at by different means. Investors typically determine if Electromed is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Electromed'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.
Electromed '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 Electromed'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 Electromed.
| 02/23/2024 |
| 04/23/2024 |
If you would invest 0.00 in Electromed on February 23, 2024 and sell it all today you would earn a total of 0.00 from holding Electromed or generate 0.0% return on investment in Electromed over 60 days. Electromed is related to or competes with HealthStream, National Research, HealthEquity, Health Catalyst, and Definitive Healthcare. Electromed, Inc. develops, manufactures, markets, and sells airway clearance therapy and related products that apply hig... More
Electromed 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 Electromed'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 Electromed upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.31 | |||
| Information Ratio | 0.1132 | |||
| Maximum Drawdown | 31.67 | |||
| Value At Risk | (3.91) | |||
| Potential Upside | 6.05 |
Electromed Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Electromed's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Electromed's standard deviation. In reality, there are many statistical measures that can use Electromed historical prices to predict the future Electromed's volatility.| Risk Adjusted Performance | 0.09 | |||
| Jensen Alpha | 0.4296 | |||
| Total Risk Alpha | 0.0325 | |||
| Sortino Ratio | 0.2103 | |||
| Treynor Ratio | 0.3214 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Electromed'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.
Electromed Backtested Returns
Electromed appears to be not too volatile, given 3 months investment horizon. Electromed secures Sharpe Ratio (or Efficiency) of 0.18, which denotes the company had a 0.18% return per unit of risk over the last 3 months. By reviewing Electromed's technical indicators, you can evaluate if the expected return of 0.8% is justified by implied risk. Please utilize Electromed's Mean Deviation of 2.61, downside deviation of 2.31, and Coefficient Of Variation of 751.39 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Electromed holds a performance score of 13. The firm shows a Beta (market volatility) of 1.75, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Electromed will likely underperform. Please check Electromed's coefficient of variation, maximum drawdown, skewness, as well as the relationship between the total risk alpha and downside variance , to make a quick decision on whether Electromed's price patterns will revert.
Auto-correlation | -0.83 |
Excellent reverse predictability
Electromed has excellent reverse predictability. Overlapping area represents the amount of predictability between Electromed time series from 23rd of February 2024 to 24th of March 2024 and 24th of March 2024 to 23rd 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 Electromed price movement. The serial correlation of -0.83 indicates that around 83.0% of current Electromed price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.83 | |
| Spearman Rank Test | -0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 0.58 |
Electromed lagged returns against current returns
Autocorrelation, which is Electromed 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 Electromed's stock expected returns. We can calculate the autocorrelation of Electromed returns to help us make a trade decision. For example, suppose you find that Electromed 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 |
Electromed 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 Electromed stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Electromed stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Electromed stock over time.
Current vs Lagged Prices |
| Timeline |
Electromed Lagged Returns
When evaluating Electromed's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Electromed stock have on its future price. Electromed 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, Electromed autocorrelation shows the relationship between Electromed stock current value and its past values and can show if there is a momentum factor associated with investing in Electromed.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Electromed in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Electromed's short interest history, or implied volatility extrapolated from Electromed options trading.
Pair Trading with Electromed
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 Electromed 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 Electromed will appreciate offsetting losses from the drop in the long position's value.Moving together with Electromed Stock
| 0.69 | FORA | Forian Inc Financial Report 10th of May 2024 | PairCorr |
Moving against Electromed Stock
| 0.76 | GH | Guardant Health Upward Rally | PairCorr |
| 0.76 | ICCM | Icecure Medical Financial Report 27th of May 2024 | PairCorr |
| 0.72 | SIBN | Si Bone Financial Report 6th of May 2024 | PairCorr |
| 0.68 | SRDX | SurModics Financial Report 24th of April 2024 | PairCorr |
| 0.63 | HCAT | Health Catalyst Financial Report 14th of May 2024 | PairCorr |
The ability to find closely correlated positions to Electromed could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electromed 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 Electromed - 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 Electromed to buy it.
The correlation of Electromed 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 Electromed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Electromed 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 Electromed 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 Electromed Correlation, Electromed Volatility and Electromed Alpha and Beta module to complement your research on Electromed. For information on how to trade Electromed Stock refer to our How to Trade Electromed Stock guide.You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Complementary Tools for Electromed Stock analysis
When running Electromed's price analysis, check to measure Electromed'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 Electromed is operating at the current time. Most of Electromed's value examination focuses on studying past and present price action to predict the probability of Electromed's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Electromed's price. Additionally, you may evaluate how the addition of Electromed to your portfolios can decrease your overall portfolio volatility.
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Electromed 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.