Choiceone Financial Services Stock Market Value
COFS Stock | USD 25.17 1.01 4.18% |
Symbol | ChoiceOne |
ChoiceOne Financial Price To Book Ratio
Is ChoiceOne Financial'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 ChoiceOne Financial. If investors know ChoiceOne 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 ChoiceOne Financial 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 (0.21) | Dividend Share 1.05 | Earnings Share 2.82 | Revenue Per Share 10.705 | Quarterly Revenue Growth (0.04) |
The market value of ChoiceOne Financial is measured differently than its book value, which is the value of ChoiceOne that is recorded on the company's balance sheet. Investors also form their own opinion of ChoiceOne Financial's value that differs from its market value or its book value, called intrinsic value, which is ChoiceOne Financial'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 ChoiceOne Financial's market value can be influenced by many factors that don't directly affect ChoiceOne Financial'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 ChoiceOne Financial's value and its price as these two are different measures arrived at by different means. Investors typically determine if ChoiceOne Financial is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ChoiceOne Financial'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.
ChoiceOne Financial '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 ChoiceOne Financial'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 ChoiceOne Financial.
08/27/2023 |
| 04/23/2024 |
If you would invest 0.00 in ChoiceOne Financial on August 27, 2023 and sell it all today you would earn a total of 0.00 from holding ChoiceOne Financial Services or generate 0.0% return on investment in ChoiceOne Financial over 240 days. ChoiceOne Financial is related to or competes with HMN Financial, Lake Shore, and Rhinebeck Bancorp. ChoiceOne Financial Services, Inc. operates as the bank holding company for ChoiceOne Bank that provides community banki... More
ChoiceOne Financial 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 ChoiceOne Financial'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 ChoiceOne Financial Services upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.06) | |||
Maximum Drawdown | 16.71 | |||
Value At Risk | (5.00) | |||
Potential Upside | 4.48 |
ChoiceOne Financial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ChoiceOne Financial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ChoiceOne Financial's standard deviation. In reality, there are many statistical measures that can use ChoiceOne Financial historical prices to predict the future ChoiceOne Financial's volatility.Risk Adjusted Performance | (0.01) | |||
Jensen Alpha | (0.21) | |||
Total Risk Alpha | (0.47) | |||
Treynor Ratio | (0.07) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ChoiceOne Financial'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.
ChoiceOne Financial Backtested Returns
ChoiceOne Financial secures Sharpe Ratio (or Efficiency) of -0.0551, which signifies that the company had a -0.0551% return per unit of risk over the last 3 months. ChoiceOne Financial Services exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ChoiceOne Financial's Mean Deviation of 2.08, standard deviation of 2.86, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.35, which signifies 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, ChoiceOne Financial will likely underperform. ChoiceOne Financial has an expected return of -0.16%. Please make sure to confirm ChoiceOne Financial potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if ChoiceOne Financial performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.33 |
Poor reverse predictability
ChoiceOne Financial Services has poor reverse predictability. Overlapping area represents the amount of predictability between ChoiceOne Financial time series from 27th of August 2023 to 25th of December 2023 and 25th of December 2023 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 ChoiceOne Financial price movement. The serial correlation of -0.33 indicates that nearly 33.0% of current ChoiceOne Financial price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.33 | |
Spearman Rank Test | -0.36 | |
Residual Average | 0.0 | |
Price Variance | 3.08 |
ChoiceOne Financial lagged returns against current returns
Autocorrelation, which is ChoiceOne Financial 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 ChoiceOne Financial's stock expected returns. We can calculate the autocorrelation of ChoiceOne Financial returns to help us make a trade decision. For example, suppose you find that ChoiceOne Financial 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 |
ChoiceOne Financial 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 ChoiceOne Financial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ChoiceOne Financial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ChoiceOne Financial stock over time.
Current vs Lagged Prices |
Timeline |
ChoiceOne Financial Lagged Returns
When evaluating ChoiceOne Financial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ChoiceOne Financial stock have on its future price. ChoiceOne Financial 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, ChoiceOne Financial autocorrelation shows the relationship between ChoiceOne Financial stock current value and its past values and can show if there is a momentum factor associated with investing in ChoiceOne Financial Services.
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 ChoiceOne Financial 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, ChoiceOne Financial's short interest history, or implied volatility extrapolated from ChoiceOne Financial options trading.
Pair Trading with ChoiceOne Financial
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 ChoiceOne Financial 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 ChoiceOne Financial will appreciate offsetting losses from the drop in the long position's value.Moving together with ChoiceOne Stock
0.72 | AX | Axos Financial Earnings Call This Week | PairCorr |
0.77 | BY | Byline Bancorp Earnings Call This Week | PairCorr |
Moving against ChoiceOne Stock
0.7 | TECTP | Tectonic Financial | PairCorr |
0.55 | DB | Deutsche Bank AG Earnings Call This Week | PairCorr |
0.48 | CFG-PD | Citizens Financial | PairCorr |
The ability to find closely correlated positions to ChoiceOne Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ChoiceOne Financial 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 ChoiceOne Financial - 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 ChoiceOne Financial Services to buy it.
The correlation of ChoiceOne Financial 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 ChoiceOne Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ChoiceOne Financial 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 ChoiceOne Financial 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 ChoiceOne Financial Correlation, ChoiceOne Financial Volatility and ChoiceOne Financial Alpha and Beta module to complement your research on ChoiceOne Financial. Note that the ChoiceOne Financial information on this page should be used as a complementary analysis to other ChoiceOne Financial's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Complementary Tools for ChoiceOne Stock analysis
When running ChoiceOne Financial's price analysis, check to measure ChoiceOne Financial'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 ChoiceOne Financial is operating at the current time. Most of ChoiceOne Financial's value examination focuses on studying past and present price action to predict the probability of ChoiceOne Financial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ChoiceOne Financial's price. Additionally, you may evaluate how the addition of ChoiceOne Financial to your portfolios can decrease your overall portfolio volatility.
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ChoiceOne Financial 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.