Academy Sports Outdoors Stock Market Value
| ASO Stock | USD 49.25 0.40 0.82% |
| Symbol | Academy |
Academy Sports Outdoors Company Valuation
Is Other Specialty Retail space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Academy Sports. If investors know Academy will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Academy Sports listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.03) | Dividend Share 0.42 | Earnings Share 6.44 | Revenue Per Share 82.956 | Quarterly Revenue Growth (0.02) |
The market value of Academy Sports Outdoors is measured differently than its book value, which is the value of Academy that is recorded on the company's balance sheet. Investors also form their own opinion of Academy Sports' value that differs from its market value or its book value, called intrinsic value, which is Academy Sports' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Academy Sports' market value can be influenced by many factors that don't directly affect Academy Sports' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Academy Sports' value and its price as these two are different measures arrived at by different means. Investors typically determine if Academy Sports is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Academy Sports' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Academy Sports '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 Academy Sports' 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 Academy Sports.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Academy Sports on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Academy Sports Outdoors or generate 0.0% return on investment in Academy Sports over 180 days. Academy Sports is related to or competes with Alcon AG, Cooper Companies,, AngioDynamics, AptarGroup, BioLife Solutions, Teleflex Incorporated, and West Pharmaceutical. Academy Sports and Outdoors, Inc., through its subsidiaries, operates as a sporting goods and outdoor recreational produ... More
Academy Sports 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 Academy Sports' 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 Academy Sports Outdoors upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 9.63 | |||
| Value At Risk | (3.25) | |||
| Potential Upside | 4.04 |
Academy Sports Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Academy Sports' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Academy Sports' standard deviation. In reality, there are many statistical measures that can use Academy Sports historical prices to predict the future Academy Sports' volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.51) | |||
| Treynor Ratio | (0.34) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Academy Sports' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Academy Sports Outdoors Backtested Returns
Academy Sports Outdoors secures Sharpe Ratio (or Efficiency) of -0.0628, which signifies that the company had a -0.0628% return per unit of standard deviation over the last 3 months. Academy Sports Outdoors exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Academy Sports' mean deviation of 1.72, and Risk Adjusted Performance of (0.04) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.42, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Academy Sports' returns are expected to increase less than the market. However, during the bear market, the loss of holding Academy Sports is expected to be smaller as well. At this point, Academy Sports Outdoors has a negative expected return of -0.14%. Please make sure to confirm Academy Sports' potential upside, and the relationship between the jensen alpha and rate of daily change , to decide if Academy Sports Outdoors performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.09 |
Very weak reverse predictability
Academy Sports Outdoors has very weak reverse predictability. Overlapping area represents the amount of predictability between Academy Sports time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 Academy Sports Outdoors price movement. The serial correlation of -0.09 indicates that less than 9.0% of current Academy Sports price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | -0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 17.53 |
Academy Sports Outdoors lagged returns against current returns
Autocorrelation, which is Academy Sports 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 Academy Sports' stock expected returns. We can calculate the autocorrelation of Academy Sports returns to help us make a trade decision. For example, suppose you find that Academy Sports 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 |
Academy Sports 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 Academy Sports stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Academy Sports stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Academy Sports stock over time.
Current vs Lagged Prices |
| Timeline |
Academy Sports Lagged Returns
When evaluating Academy Sports' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Academy Sports stock have on its future price. Academy Sports 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, Academy Sports autocorrelation shows the relationship between Academy Sports stock current value and its past values and can show if there is a momentum factor associated with investing in Academy Sports Outdoors.
Regressed Prices |
| Timeline |
Pair Trading with Academy Sports
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 Academy Sports 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 Academy Sports will appreciate offsetting losses from the drop in the long position's value.Moving together with Academy Stock
Moving against Academy Stock
| 0.79 | WRBY | Warby Parker | PairCorr |
| 0.77 | LB | LandBridge Company | PairCorr |
| 0.76 | VSCO | Victorias Secret | PairCorr |
| 0.55 | WEYS | Weyco Group | PairCorr |
| 0.34 | HD | Home Depot | PairCorr |
The ability to find closely correlated positions to Academy Sports could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Academy Sports 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 Academy Sports - 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 Academy Sports Outdoors to buy it.
The correlation of Academy Sports 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 Academy Sports moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Academy Sports Outdoors 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 Academy Sports 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.Check out Academy Sports Correlation, Academy Sports Volatility and Academy Sports Alpha and Beta module to complement your research on Academy Sports. You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Academy Sports 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.