Align Technology (Germany) Market Value
| AFW Stock | EUR 217.60 1.00 0.46% |
| Symbol | Align |
Align Technology '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 Align Technology's 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 Align Technology.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Align Technology on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Align Technology or generate 0.0% return on investment in Align Technology over 180 days. Align Technology is related to or competes with Medtronic PLC, Stryker, Boston Scientific, Edwards Lifesciences, and . Align Technology, Inc., a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero... More
Align Technology 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 Align Technology's 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 Align Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.84 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 12.53 | |||
| Value At Risk | (2.65) | |||
| Potential Upside | 3.35 |
Align Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Align Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Align Technology's standard deviation. In reality, there are many statistical measures that can use Align Technology historical prices to predict the future Align Technology's volatility.| Risk Adjusted Performance | 0.0287 | |||
| Jensen Alpha | 0.0076 | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.1361 |
Align Technology Backtested Returns
At this point, Align Technology is very steady. Align Technology secures Sharpe Ratio (or Efficiency) of 0.0213, which signifies that the company had a 0.0213% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Align Technology, which you can use to evaluate the volatility of the firm. Please confirm Align Technology's Risk Adjusted Performance of 0.0287, mean deviation of 1.56, and Downside Deviation of 1.84 to double-check if the risk estimate we provide is consistent with the expected return of 0.0433%. Align Technology has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.37, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Align Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Align Technology is expected to be smaller as well. Align Technology right now shows a risk of 2.03%. Please confirm Align Technology coefficient of variation, sortino ratio, potential upside, as well as the relationship between the jensen alpha and maximum drawdown , to decide if Align Technology will be following its price patterns.
Auto-correlation | 0.22 |
Weak predictability
Align Technology has weak predictability. Overlapping area represents the amount of predictability between Align Technology time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th of November 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 Align Technology price movement. The serial correlation of 0.22 indicates that over 22.0% of current Align Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 111.95 |
Align Technology lagged returns against current returns
Autocorrelation, which is Align Technology 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 Align Technology's stock expected returns. We can calculate the autocorrelation of Align Technology returns to help us make a trade decision. For example, suppose you find that Align Technology 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 |
Align Technology 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 Align Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Align Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Align Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Align Technology Lagged Returns
When evaluating Align Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Align Technology stock have on its future price. Align Technology 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, Align Technology autocorrelation shows the relationship between Align Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Align Technology.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Align Stock
When determining whether Align Technology offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Align Technology's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Align Technology Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Align Technology Stock:Check out Align Technology Correlation, Align Technology Volatility and Align Technology Alpha and Beta module to complement your research on Align Technology. For more detail on how to invest in Align Stock please use our How to Invest in Align Technology guide.You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Align Technology 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.