Quest Diagnostics Incorporated Stock Market Value
| DGX Stock | USD 128.44 2.53 2.01% |
| Symbol | Quest |
Quest Diagnostics Price To Book Ratio
Is Quest Diagnostics' 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 Quest Diagnostics. If investors know Quest 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 Quest Diagnostics 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 0.868 | Dividend Share 2.84 | Earnings Share 7.49 | Revenue Per Share 82.607 | Quarterly Revenue Growth (0.02) |
The market value of Quest Diagnostics is measured differently than its book value, which is the value of Quest that is recorded on the company's balance sheet. Investors also form their own opinion of Quest Diagnostics' value that differs from its market value or its book value, called intrinsic value, which is Quest Diagnostics' 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 Quest Diagnostics' market value can be influenced by many factors that don't directly affect Quest Diagnostics' 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 Quest Diagnostics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Quest Diagnostics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Quest Diagnostics' 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.
Quest Diagnostics '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 Quest Diagnostics' 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 Quest Diagnostics.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Quest Diagnostics on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Quest Diagnostics Incorporated or generate 0.0% return on investment in Quest Diagnostics over 30 days. Quest Diagnostics is related to or competes with Certara, HealthStream, Evolent Health, Streamline Health, Definitive Healthcare, Simulations Plus, and Agiliti. Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internati... More
Quest Diagnostics 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 Quest Diagnostics' 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 Quest Diagnostics Incorporated upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 4.41 | |||
| Value At Risk | (1.66) | |||
| Potential Upside | 2.01 |
Quest Diagnostics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Quest Diagnostics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Quest Diagnostics' standard deviation. In reality, there are many statistical measures that can use Quest Diagnostics historical prices to predict the future Quest Diagnostics' volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | 0.8981 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Quest Diagnostics' 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.
Quest Diagnostics Backtested Returns
Quest Diagnostics maintains Sharpe Ratio (i.e., Efficiency) of -0.0109, which implies the firm had a -0.0109% return per unit of risk over the last 3 months. Quest Diagnostics exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Quest Diagnostics' Risk Adjusted Performance of (0.04), variance of 1.21, and Coefficient Of Variation of (1,436) to confirm the risk estimate we provide. The company holds a Beta of -0.0964, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Quest Diagnostics are expected to decrease at a much lower rate. During the bear market, Quest Diagnostics is likely to outperform the market. Quest Diagnostics has an expected return of -0.0122%. Please make sure to check Quest Diagnostics jensen alpha, as well as the relationship between the skewness and day median price , to decide if Quest Diagnostics performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
Quest Diagnostics Incorporated has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Quest Diagnostics time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Quest Diagnostics price movement. The serial correlation of -0.77 indicates that around 77.0% of current Quest Diagnostics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 3.7 |
Quest Diagnostics lagged returns against current returns
Autocorrelation, which is Quest Diagnostics 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 Quest Diagnostics' stock expected returns. We can calculate the autocorrelation of Quest Diagnostics returns to help us make a trade decision. For example, suppose you find that Quest Diagnostics 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 |
Quest Diagnostics 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 Quest Diagnostics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Quest Diagnostics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Quest Diagnostics stock over time.
Current vs Lagged Prices |
| Timeline |
Quest Diagnostics Lagged Returns
When evaluating Quest Diagnostics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Quest Diagnostics stock have on its future price. Quest Diagnostics 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, Quest Diagnostics autocorrelation shows the relationship between Quest Diagnostics stock current value and its past values and can show if there is a momentum factor associated with investing in Quest Diagnostics Incorporated.
Regressed Prices |
| Timeline |
Pair Trading with Quest Diagnostics
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 Quest Diagnostics 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 Quest Diagnostics will appreciate offsetting losses from the drop in the long position's value.Moving against Quest Stock
| 0.6 | TIL | Instil Bio Financial Report 9th of May 2024 | PairCorr |
| 0.42 | EWTX | Edgewise Therapeutics Financial Report 9th of May 2024 | PairCorr |
The ability to find closely correlated positions to Quest Diagnostics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Quest Diagnostics 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 Quest Diagnostics - 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 Quest Diagnostics Incorporated to buy it.
The correlation of Quest Diagnostics 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 Quest Diagnostics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Quest Diagnostics 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 Quest Diagnostics 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 Quest Diagnostics Correlation, Quest Diagnostics Volatility and Quest Diagnostics Alpha and Beta module to complement your research on Quest Diagnostics. Note that the Quest Diagnostics information on this page should be used as a complementary analysis to other Quest Diagnostics' 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Complementary Tools for Quest Stock analysis
When running Quest Diagnostics' price analysis, check to measure Quest Diagnostics' 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 Quest Diagnostics is operating at the current time. Most of Quest Diagnostics' value examination focuses on studying past and present price action to predict the probability of Quest Diagnostics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Quest Diagnostics' price. Additionally, you may evaluate how the addition of Quest Diagnostics to your portfolios can decrease your overall portfolio volatility.
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Quest Diagnostics 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.