Medtronic Plc (Brazil) Market Value
| MDTC34 Stock | BRL 244.06 3.07 1.27% |
| Symbol | Medtronic |
Medtronic Plc '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 Medtronic Plc'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 Medtronic Plc.
| 12/03/2023 |
| 12/27/2024 |
If you would invest 0.00 in Medtronic Plc on December 3, 2023 and sell it all today you would earn a total of 0.00 from holding Medtronic plc or generate 0.0% return on investment in Medtronic Plc over 390 days. Medtronic Plc is related to or competes with Boston Scientific, Edwards Lifesciences, and Align Technology. Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, cl... More
Medtronic Plc 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 Medtronic Plc'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 Medtronic plc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 7.88 | |||
| Value At Risk | (2.60) | |||
| Potential Upside | 2.2 |
Medtronic Plc Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Medtronic Plc's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Medtronic Plc's standard deviation. In reality, there are many statistical measures that can use Medtronic Plc historical prices to predict the future Medtronic Plc's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | 1.19 |
Medtronic plc Backtested Returns
At this point, Medtronic Plc is very steady. Medtronic plc has Sharpe Ratio of 0.0158, which conveys that the firm had a 0.0158% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for Medtronic Plc, which you can use to evaluate the volatility of the firm. Please verify Medtronic Plc's Mean Deviation of 0.9352, standard deviation of 1.45, and Risk Adjusted Performance of (0.02) to check out if the risk estimate we provide is consistent with the expected return of 0.0201%. Medtronic Plc has a performance score of 1 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.0507, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Medtronic Plc are expected to decrease at a much lower rate. During the bear market, Medtronic Plc is likely to outperform the market. Medtronic plc right now secures a risk of 1.27%. Please verify Medtronic plc jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Medtronic plc will be following its current price movements.
Auto-correlation | 0.55 |
Modest predictability
Medtronic plc has modest predictability. Overlapping area represents the amount of predictability between Medtronic Plc time series from 3rd of December 2023 to 15th of June 2024 and 15th of June 2024 to 27th 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 Medtronic plc price movement. The serial correlation of 0.55 indicates that about 55.0% of current Medtronic Plc price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 270.43 |
Medtronic plc lagged returns against current returns
Autocorrelation, which is Medtronic Plc 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 Medtronic Plc's stock expected returns. We can calculate the autocorrelation of Medtronic Plc returns to help us make a trade decision. For example, suppose you find that Medtronic Plc 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 |
Medtronic Plc 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 Medtronic Plc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Medtronic Plc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Medtronic Plc stock over time.
Current vs Lagged Prices |
| Timeline |
Medtronic Plc Lagged Returns
When evaluating Medtronic Plc's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Medtronic Plc stock have on its future price. Medtronic Plc 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, Medtronic Plc autocorrelation shows the relationship between Medtronic Plc stock current value and its past values and can show if there is a momentum factor associated with investing in Medtronic plc.
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 Medtronic Stock
When determining whether Medtronic plc 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 Medtronic 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 Medtronic Plc Stock. Highlighted below are key reports to facilitate an investment decision about Medtronic Plc Stock:Check out Medtronic Plc Correlation, Medtronic Plc Volatility and Medtronic Plc Alpha and Beta module to complement your research on Medtronic Plc. For information on how to trade Medtronic Stock refer to our How to Trade Medtronic Stock guide.You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Medtronic Plc 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.