Digi International Stock Market Value
| DGII Stock | USD 30.73 0.33 1.09% |
| Symbol | Digi |
Digi International Price To Book Ratio
Is Digi International'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 Digi International. If investors know Digi 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 Digi International 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 (0.45) | Earnings Share 0.43 | Revenue Per Share 12.285 | Quarterly Revenue Growth (0.03) | Return On Assets 0.0373 |
The market value of Digi International is measured differently than its book value, which is the value of Digi that is recorded on the company's balance sheet. Investors also form their own opinion of Digi International's value that differs from its market value or its book value, called intrinsic value, which is Digi International'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 Digi International's market value can be influenced by many factors that don't directly affect Digi International'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 Digi International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Digi International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Digi International'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.
Digi International '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 Digi International'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 Digi International.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Digi International on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Digi International or generate 0.0% return on investment in Digi International over 30 days. Digi International is related to or competes with NETGEAR, and Clearfield. Digi International Inc. provides business and mission-critical Internet of Things products, services, and solutions in t... More
Digi International 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 Digi International'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 Digi International upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.22 | |||
| Information Ratio | 0.1197 | |||
| Maximum Drawdown | 19.41 | |||
| Value At Risk | (3.42) | |||
| Potential Upside | 4.23 |
Digi International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Digi International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Digi International's standard deviation. In reality, there are many statistical measures that can use Digi International historical prices to predict the future Digi International's volatility.| Risk Adjusted Performance | 0.1046 | |||
| Jensen Alpha | 0.1806 | |||
| Total Risk Alpha | 0.0395 | |||
| Sortino Ratio | 0.1435 | |||
| Treynor Ratio | 0.1542 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Digi International'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.
Digi International Backtested Returns
Digi International appears to be very steady, given 3 months investment horizon. Digi International secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the company had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Digi International, which you can use to evaluate the volatility of the firm. Please utilize Digi International's Mean Deviation of 1.76, coefficient of variation of 643.56, and Downside Deviation of 2.22 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Digi International holds a performance score of 9. The firm shows a Beta (market volatility) of 2.62, 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, Digi International will likely underperform. Please check Digi International's downside variance, day median price, and the relationship between the treynor ratio and kurtosis , to make a quick decision on whether Digi International's price patterns will revert.
Auto-correlation | 0.08 |
Virtually no predictability
Digi International has virtually no predictability. Overlapping area represents the amount of predictability between Digi International time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 Digi International price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Digi International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.39 |
Digi International lagged returns against current returns
Autocorrelation, which is Digi International 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 Digi International's stock expected returns. We can calculate the autocorrelation of Digi International returns to help us make a trade decision. For example, suppose you find that Digi International 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 |
Digi International 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 Digi International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Digi International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Digi International stock over time.
Current vs Lagged Prices |
| Timeline |
Digi International Lagged Returns
When evaluating Digi International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Digi International stock have on its future price. Digi International 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, Digi International autocorrelation shows the relationship between Digi International stock current value and its past values and can show if there is a momentum factor associated with investing in Digi International.
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 Digi International 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, Digi International's short interest history, or implied volatility extrapolated from Digi International options trading.
Pair Trading with Digi International
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 Digi International 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 Digi International will appreciate offsetting losses from the drop in the long position's value.Moving together with Digi Stock
| 0.75 | AVNW | Aviat Networks Earnings Call This Week | PairCorr |
Moving against Digi Stock
| 0.71 | DZSI | DZS Inc Financial Report 13th of May 2024 | PairCorr |
| 0.71 | AAPL | Apple Inc Earnings Call This Week | PairCorr |
| 0.66 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.61 | MX | MagnaChip Semiconductor Earnings Call This Week | PairCorr |
| 0.58 | CMTL | Comtech Telecommunicatio Buyout Trend | PairCorr |
The ability to find closely correlated positions to Digi International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Digi International 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 Digi International - 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 Digi International to buy it.
The correlation of Digi International 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 Digi International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Digi International 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 Digi International 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 Digi International Correlation, Digi International Volatility and Digi International Alpha and Beta module to complement your research on Digi International. For more detail on how to invest in Digi Stock please use our How to Invest in Digi International guide.You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Complementary Tools for Digi Stock analysis
When running Digi International's price analysis, check to measure Digi International'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 Digi International is operating at the current time. Most of Digi International's value examination focuses on studying past and present price action to predict the probability of Digi International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Digi International's price. Additionally, you may evaluate how the addition of Digi International to your portfolios can decrease your overall portfolio volatility.
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Digi International 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.