Co Diagnostics Stock Price on June 6, 2024
If you're considering investing in CODX Stock, it is important to understand the factors that can impact its price. Co Diagnostics retains Efficiency (Sharpe Ratio) of -0.23, which signifies that the company had a -0.23% return per unit of price deviation over the last 3 months. Co Diagnostics exposes fifteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Co Diagnostics' Variance of 9.9, information ratio of (0.24), and Market Risk Adjusted Performance of 1.83 to double-check the risk estimate we provide.
CODX Stock price history is provided at the adjusted basis, taking into account all of the recent filings.
CODX |
Sharpe Ratio = -0.2306
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Estimated Market Risk
3.15 actual daily | 28 72% of assets are more volatile |
Expected Return
-0.73 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
-0.23 actual daily | 0 Most of other assets perform better |
Based on monthly moving average Co Diagnostics is not performing at its full potential. However, if added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Co Diagnostics by adding Co Diagnostics to a well-diversified portfolio.
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.
Price Boundaries
Co Diagnostics Period Price Range
Low | December 22, 2024
| High |
0.00 | 0.00 |
Co Diagnostics cannot be verified against its exchange. Please verify the symbol is currently traded on NASDAQ Exchange. If you still believe the symbol you are trying to look up is valid, please let us know, and we will check it as soon as possible.
Co Diagnostics December 22, 2024 Market Strength
Market strength indicators help investors to evaluate how Co Diagnostics stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Co Diagnostics shares will generate the highest return on investment. By undertsting and applying Co Diagnostics stock market strength indicators, traders can identify Co Diagnostics entry and exit signals to maximize returns
Co Diagnostics Technical and Predictive Indicators
Predictive indicators are helping investors to find signals for Co Diagnostics' price direction in advance. Along with the technical and fundamental analysis of CODX Stock historical price patterns, it is also worthwhile for investors to track various predictive indicators of CODX to make sure they correctly time the market and exploit it's hidden potentials. Even though most predictive indicators are useful for the short-term horizon, it's virtually impossible to predict the unforeseen market. For traders with a short-term horizon, predictive indicators add value when properly applied. Long-term investors, however, may find many predictive indicators less useful.
Risk Adjusted Performance | (0.18) | |||
Jensen Alpha | (0.73) | |||
Total Risk Alpha | (0.82) | |||
Treynor Ratio | 1.82 |
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Volume Indicators |
Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Tools for CODX Stock
When running Co Diagnostics' price analysis, check to measure Co 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 Co Diagnostics is operating at the current time. Most of Co Diagnostics' value examination focuses on studying past and present price action to predict the probability of Co Diagnostics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Co Diagnostics' price. Additionally, you may evaluate how the addition of Co Diagnostics to your portfolios can decrease your overall portfolio volatility.
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