L3Harris Technologies (UK) Market Value
| 0L3H Stock | 240.11 2.33 0.96% |
| Symbol | L3Harris |
L3Harris Technologies '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 L3Harris Technologies' 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 L3Harris Technologies.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in L3Harris Technologies on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding L3Harris Technologies or generate 0.0% return on investment in L3Harris Technologies over 30 days. L3Harris Technologies is related to or competes with GlobalData PLC, X FAB, Compal Electronics, Alliance Data, Liontrust Asset, and Flow Traders. L3Harris Technologies is entity of United Kingdom More
L3Harris Technologies 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 L3Harris Technologies' 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 L3Harris Technologies upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.46 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 9.25 | |||
| Value At Risk | (1.81) | |||
| Potential Upside | 2.16 |
L3Harris Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for L3Harris Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as L3Harris Technologies' standard deviation. In reality, there are many statistical measures that can use L3Harris Technologies historical prices to predict the future L3Harris Technologies' volatility.| Risk Adjusted Performance | 0.0356 | |||
| Jensen Alpha | 0.0439 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 1.58 |
L3Harris Technologies Backtested Returns
Currently, L3Harris Technologies is very steady. L3Harris Technologies has Sharpe Ratio of 0.054, which conveys that the company had a 0.054% return per unit of risk over the last 3 months. We have found thirty technical indicators for L3Harris Technologies, which you can use to evaluate the volatility of the entity. Please verify L3Harris Technologies' Downside Deviation of 1.46, mean deviation of 0.9653, and Semi Deviation of 1.31 to check out if the risk estimate we provide is consistent with the expected return of 0.0751%. L3Harris Technologies has a performance score of 4 on a scale of 0 to 100. The firm secures a Beta (Market Risk) of 0.0297, which conveys not very significant fluctuations relative to the market. As returns on the market increase, L3Harris Technologies' returns are expected to increase less than the market. However, during the bear market, the loss of holding L3Harris Technologies is expected to be smaller as well. L3Harris Technologies at this moment secures a risk of 1.39%. Please verify L3Harris Technologies market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if L3Harris Technologies will be following its current price movements.
Auto-correlation | 0.37 |
Below average predictability
L3Harris Technologies has below average predictability. Overlapping area represents the amount of predictability between L3Harris Technologies time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th of December 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 L3Harris Technologies price movement. The serial correlation of 0.37 indicates that just about 37.0% of current L3Harris Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 7.23 |
L3Harris Technologies lagged returns against current returns
Autocorrelation, which is L3Harris Technologies 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 L3Harris Technologies' stock expected returns. We can calculate the autocorrelation of L3Harris Technologies returns to help us make a trade decision. For example, suppose you find that L3Harris Technologies 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 |
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L3Harris Technologies 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 L3Harris Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if L3Harris Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in L3Harris Technologies stock over time.
Current vs Lagged Prices |
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L3Harris Technologies Lagged Returns
When evaluating L3Harris Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of L3Harris Technologies stock have on its future price. L3Harris Technologies 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, L3Harris Technologies autocorrelation shows the relationship between L3Harris Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in L3Harris Technologies.
Regressed Prices |
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Also Currently Popular
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.Additional Tools for L3Harris Stock Analysis
When running L3Harris Technologies' price analysis, check to measure L3Harris Technologies' 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 L3Harris Technologies is operating at the current time. Most of L3Harris Technologies' value examination focuses on studying past and present price action to predict the probability of L3Harris Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move L3Harris Technologies' price. Additionally, you may evaluate how the addition of L3Harris Technologies to your portfolios can decrease your overall portfolio volatility.