Coloplast (Denmark) Market Value
| COLO-B Stock | DKK 889.40 2.40 0.27% |
| Symbol | Coloplast |
Coloplast '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 Coloplast'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 Coloplast.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Coloplast on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Coloplast AS or generate 0.0% return on investment in Coloplast over 540 days. Coloplast is related to or competes with DSV Panalpina, GN Store, Ambu AS, Bavarian Nordic, LUXOR-B, CBrain AS, and Fast Ejendom. Coloplast AS develops and markets intimate healthcare products and services worldwide More
Coloplast 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 Coloplast'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 Coloplast AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 6.72 | |||
| Value At Risk | (2.35) | |||
| Potential Upside | 2.11 |
Coloplast Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Coloplast's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Coloplast's standard deviation. In reality, there are many statistical measures that can use Coloplast historical prices to predict the future Coloplast's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.09) |
Coloplast AS Backtested Returns
Coloplast AS secures Sharpe Ratio (or Efficiency) of -0.0479, which signifies that the company had a -0.0479% return per unit of risk over the last 3 months. Coloplast AS exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Coloplast's Standard Deviation of 1.5, mean deviation of 1.19, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.49, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Coloplast's returns are expected to increase less than the market. However, during the bear market, the loss of holding Coloplast is expected to be smaller as well. At this point, Coloplast AS has a negative expected return of -0.0715%. Please make sure to confirm Coloplast's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Coloplast AS performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.24 |
Weak predictability
Coloplast AS has weak predictability. Overlapping area represents the amount of predictability between Coloplast time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Coloplast AS price movement. The serial correlation of 0.24 indicates that over 24.0% of current Coloplast price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.24 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 1144.09 |
Coloplast AS lagged returns against current returns
Autocorrelation, which is Coloplast 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 Coloplast's stock expected returns. We can calculate the autocorrelation of Coloplast returns to help us make a trade decision. For example, suppose you find that Coloplast 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 |
Coloplast 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 Coloplast stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Coloplast stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Coloplast stock over time.
Current vs Lagged Prices |
| Timeline |
Coloplast Lagged Returns
When evaluating Coloplast's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Coloplast stock have on its future price. Coloplast 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, Coloplast autocorrelation shows the relationship between Coloplast stock current value and its past values and can show if there is a momentum factor associated with investing in Coloplast AS.
Regressed Prices |
| Timeline |
Pair Trading with Coloplast
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Coloplast position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Coloplast will appreciate offsetting losses from the drop in the long position's value.Moving together with Coloplast Stock
The ability to find closely correlated positions to Coloplast could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Coloplast when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Coloplast - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Coloplast AS to buy it.
The correlation of Coloplast is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Coloplast moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Coloplast AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Coloplast can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Coloplast Stock
Coloplast financial ratios help investors to determine whether Coloplast Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Coloplast with respect to the benefits of owning Coloplast security.