Spirit Airlines Stock Market Value
| SAVE Stock | USD 4.45 0.27 6.46% |
| Symbol | Spirit |
Spirit Airlines Price To Book Ratio
Is Spirit Airlines' 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 Spirit Airlines. If investors know Spirit 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 Spirit Airlines 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 (0.14) | Earnings Share (4.10) | Revenue Per Share 49.129 | Quarterly Revenue Growth (0.05) | Return On Assets (0.03) |
The market value of Spirit Airlines is measured differently than its book value, which is the value of Spirit that is recorded on the company's balance sheet. Investors also form their own opinion of Spirit Airlines' value that differs from its market value or its book value, called intrinsic value, which is Spirit Airlines' 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 Spirit Airlines' market value can be influenced by many factors that don't directly affect Spirit Airlines' 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 Spirit Airlines' value and its price as these two are different measures arrived at by different means. Investors typically determine if Spirit Airlines is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Spirit Airlines' 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.
Spirit Airlines '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 Spirit Airlines' 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 Spirit Airlines.
| 03/17/2024 |
| 04/16/2024 |
If you would invest 0.00 in Spirit Airlines on March 17, 2024 and sell it all today you would earn a total of 0.00 from holding Spirit Airlines or generate 0.0% return on investment in Spirit Airlines over 30 days. Spirit Airlines is related to or competes with American Airlines, Delta Air, Southwest Airlines, United Airlines, Sun Country, JetBlue Airways, and Hawaiian Holdings. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean More
Spirit Airlines 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 Spirit Airlines' 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 Spirit Airlines upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 47.05 | |||
| Value At Risk | (12.73) | |||
| Potential Upside | 8.54 |
Spirit Airlines Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Spirit Airlines' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Spirit Airlines' standard deviation. In reality, there are many statistical measures that can use Spirit Airlines historical prices to predict the future Spirit Airlines' volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (1.71) | |||
| Total Risk Alpha | (2.14) | |||
| Treynor Ratio | (0.27) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Spirit Airlines' 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.
Spirit Airlines Backtested Returns
Spirit Airlines owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0517, which indicates the firm had a -0.0517% return per unit of risk over the last 3 months. Spirit Airlines exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Spirit Airlines' Coefficient Of Variation of (601.46), risk adjusted performance of (0.09), and Variance of 72.59 to confirm the risk estimate we provide. The entity has a beta of 5.29, which indicates 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, Spirit Airlines will likely underperform. Spirit Airlines has an expected return of -0.3%. Please make sure to validate Spirit Airlines value at risk, as well as the relationship between the accumulation distribution and day typical price , to decide if Spirit Airlines performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.52 |
Good reverse predictability
Spirit Airlines has good reverse predictability. Overlapping area represents the amount of predictability between Spirit Airlines time series from 17th of March 2024 to 1st of April 2024 and 1st of April 2024 to 16th 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 Spirit Airlines price movement. The serial correlation of -0.52 indicates that about 52.0% of current Spirit Airlines price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.52 | |
| Spearman Rank Test | -0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Spirit Airlines lagged returns against current returns
Autocorrelation, which is Spirit Airlines 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 Spirit Airlines' stock expected returns. We can calculate the autocorrelation of Spirit Airlines returns to help us make a trade decision. For example, suppose you find that Spirit Airlines 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 |
Spirit Airlines 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 Spirit Airlines stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Spirit Airlines stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Spirit Airlines stock over time.
Current vs Lagged Prices |
| Timeline |
Spirit Airlines Lagged Returns
When evaluating Spirit Airlines' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Spirit Airlines stock have on its future price. Spirit Airlines 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, Spirit Airlines autocorrelation shows the relationship between Spirit Airlines stock current value and its past values and can show if there is a momentum factor associated with investing in Spirit Airlines.
Regressed Prices |
| Timeline |
Spirit Airlines Investors Sentiment
The influence of Spirit Airlines' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Spirit. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Spirit Airlines' public news can be used to forecast risks associated with an investment in Spirit. The trend in average sentiment can be used to explain how an investor holding Spirit can time the market purely based on public headlines and social activities around Spirit Airlines. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Spirit Airlines' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Spirit Airlines' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Spirit Airlines' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Spirit Airlines.
Spirit Airlines Implied Volatility | 119.92 |
Spirit Airlines' implied volatility exposes the market's sentiment of Spirit Airlines stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Spirit Airlines' implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Spirit Airlines stock will not fluctuate a lot when Spirit Airlines' options are near their expiration.
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 Spirit Airlines 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, Spirit Airlines' short interest history, or implied volatility extrapolated from Spirit Airlines options trading.
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Check out Spirit Airlines Correlation, Spirit Airlines Volatility and Spirit Airlines Alpha and Beta module to complement your research on Spirit Airlines. For information on how to trade Spirit Stock refer to our How to Trade Spirit Stock guide.You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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When running Spirit Airlines' price analysis, check to measure Spirit Airlines' 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 Spirit Airlines is operating at the current time. Most of Spirit Airlines' value examination focuses on studying past and present price action to predict the probability of Spirit Airlines' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Spirit Airlines' price. Additionally, you may evaluate how the addition of Spirit Airlines to your portfolios can decrease your overall portfolio volatility.
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Spirit Airlines 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.