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Is Ping Identity a good short-term trade as volatility ascents?
 | By Raphi Shpitalnik | Macroaxis Story |
It looks as if Ping Identity will continue to recover much faster as its share price surged up 4.15% today. The company's current daily volatility is 5.79 percent, with a beta of 0.54 and an alpha of 0.4 over DOW. While some of us are getting more passionate about current market swings, it makes sense to digest Ping Identity Holding in greater detail to make a better estimate of its volatility. We will evaluate why recent Ping Identity price moves suggest a bounce in August.
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Reviewed by Gabriel Shpitalnik
This firm conducts business under Technology sector and is part of Software—Infrastructure industry. Our advice module can be used to complement Ping Identity recommendation provided by average analyst sentiment. It analyzes the firm's potential to grow using fundamental, technical, data market data available at the time.
How important is Ping Identity's Liquidity
Ping Identity financial leverage refers to using borrowed capital as a funding source to finance Ping Identity Holding ongoing operations. It is usually used to expand the firm's asset base and generate returns on borrowed capital. Ping Identity financial leverage is typically calculated by taking the company's all interest-bearing debt and dividing it by total capital. So the higher the debt-to-capital ratio (i.e., financial leverage), the riskier the company. Financial leverage can amplify the potential profits to Ping Identity's owners, but it also increases the potential losses and risk of financial distress, including bankruptcy, if the firm cannot cover its debt costs. The degree of Ping Identity's financial leverage can be measured in several ways, including by ratios such as the debt-to-equity ratio (total debt / total equity), equity multiplier (total assets / total equity), or the debt ratio (total debt / total assets). Please check the breakdown between Ping Identity's total debt and its cash.
Ping Identity Correlation with Peers
Investors in Ping can reduce exposure to individual asset risk by holding a diversified portfolio of assets in addition to a long position in Ping Identity Holding. Diversification will allow for the same portfolio return with reduced risk. The correlation table of Ping Identity and its peers is a two-dimensional matrix that shows the correlation coefficient between pairs of securities Ping is related in some way. The cells in the table are color-coded to highlight significantly positive and negative relationships. Each cell shows the correlation between one pair of equities and can be used to run pair trading strategies or create efficient portfolios with your current brokerage. Please check volatility of Ping for more details
Breaking it down a bit more
Ping Identity appears to be not too volatile, given 1 month investment horizon. Ping Identity Holding maintains Sharpe Ratio (i.e. Efficiency) of 0.13, which implies the firm had 0.13% of return per unit of risk over the last month. Our standpoint towards forecasting the volatility of a stock is to use all available market data together with stock specific technical indicators that cannot be diversified away. By analyzing Ping Identity Holding technical indicators you can presently evaluate if the expected return of 0.74% is justified by implied risk. Please employ Ping Identity Holding semi deviation of 5.67, coefficient of variation of 1128.55, and risk adjusted performance of 0.1634 to confirm if our risk estimates are consistent with your expectations.
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This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Raphi Shpitalnik do not own shares of Ping Identity Holding. Please refer to our Terms of Use for any information regarding our disclosure principles.