Fortinet (Brazil) Market Value
| F1TN34 Stock | BRL 293.00 1.58 0.54% |
| Symbol | Fortinet |
Fortinet '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 Fortinet'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 Fortinet.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Fortinet on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Fortinet or generate 0.0% return on investment in Fortinet over 30 days. Fortinet is related to or competes with Adobe, S1NP34, Block, A1KA34, S1YM34, and Okta. Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle Eas... More
Fortinet 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 Fortinet'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 Fortinet upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.6 | |||
| Information Ratio | 0.2218 | |||
| Maximum Drawdown | 17.07 | |||
| Value At Risk | (1.99) | |||
| Potential Upside | 4.53 |
Fortinet Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortinet's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortinet's standard deviation. In reality, there are many statistical measures that can use Fortinet historical prices to predict the future Fortinet's volatility.| Risk Adjusted Performance | 0.1934 | |||
| Jensen Alpha | 0.5168 | |||
| Total Risk Alpha | 0.4654 | |||
| Sortino Ratio | 0.3167 | |||
| Treynor Ratio | 0.93 |
Fortinet Backtested Returns
Fortinet appears to be very steady, given 3 months investment horizon. Fortinet secures Sharpe Ratio (or Efficiency) of 0.23, which denotes the company had a 0.23% return per unit of risk over the last 3 months. By reviewing Fortinet's technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please utilize Fortinet's Coefficient Of Variation of 424.0, mean deviation of 1.46, and Downside Deviation of 1.6 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Fortinet holds a performance score of 17. The firm shows a Beta (market volatility) of 0.57, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fortinet's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fortinet is expected to be smaller as well. Please check Fortinet's treynor ratio, value at risk, and the relationship between the sortino ratio and maximum drawdown , to make a quick decision on whether Fortinet's price patterns will revert.
Auto-correlation | -0.21 |
Weak reverse predictability
Fortinet has weak reverse predictability. Overlapping area represents the amount of predictability between Fortinet time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Fortinet price movement. The serial correlation of -0.21 indicates that over 21.0% of current Fortinet price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 11.0 |
Fortinet lagged returns against current returns
Autocorrelation, which is Fortinet 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 Fortinet's stock expected returns. We can calculate the autocorrelation of Fortinet returns to help us make a trade decision. For example, suppose you find that Fortinet 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 |
Fortinet 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 Fortinet stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortinet stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fortinet stock over time.
Current vs Lagged Prices |
| Timeline |
Fortinet Lagged Returns
When evaluating Fortinet's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortinet stock have on its future price. Fortinet 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, Fortinet autocorrelation shows the relationship between Fortinet stock current value and its past values and can show if there is a momentum factor associated with investing in Fortinet.
Regressed Prices |
| Timeline |
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 Information and Resources on Investing in Fortinet Stock
When determining whether Fortinet is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Fortinet Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Fortinet Stock. Highlighted below are key reports to facilitate an investment decision about Fortinet Stock:Check out Fortinet Correlation, Fortinet Volatility and Fortinet Alpha and Beta module to complement your research on Fortinet. For information on how to trade Fortinet Stock refer to our How to Trade Fortinet Stock guide.You can also try the Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Fortinet 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.