Churchill Downs Incorporated Stock Market Value
| CHDN Stock | USD 140.26 2.52 1.76% |
| Symbol | Churchill |
Churchill Downs Price To Book Ratio
Is Hotels, Restaurants & Leisure 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 Churchill Downs. If investors know Churchill 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 Churchill Downs 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 0.089 | Earnings Share 5.53 | Revenue Per Share 35.989 | Quarterly Revenue Growth 0.098 | Return On Assets 0.0625 |
The market value of Churchill Downs is measured differently than its book value, which is the value of Churchill that is recorded on the company's balance sheet. Investors also form their own opinion of Churchill Downs' value that differs from its market value or its book value, called intrinsic value, which is Churchill Downs' 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 Churchill Downs' market value can be influenced by many factors that don't directly affect Churchill Downs' 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 Churchill Downs' value and its price as these two are different measures arrived at by different means. Investors typically determine if Churchill Downs is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Churchill Downs' 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.
Churchill Downs '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 Churchill Downs' 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 Churchill Downs.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Churchill Downs on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Churchill Downs Incorporated or generate 0.0% return on investment in Churchill Downs over 30 days. Churchill Downs is related to or competes with Accel Entertainment, PlayAGS, International Game, Everi Holdings, Light Wonder, and Inspired Entertainment. Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United State... More
Churchill Downs 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 Churchill Downs' 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 Churchill Downs Incorporated upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.26 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 9.87 | |||
| Value At Risk | (2.15) | |||
| Potential Upside | 2.12 |
Churchill Downs Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Churchill Downs' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Churchill Downs' standard deviation. In reality, there are many statistical measures that can use Churchill Downs historical prices to predict the future Churchill Downs' volatility.| Risk Adjusted Performance | 0.0178 | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.014 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Churchill Downs' 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.
Churchill Downs Backtested Returns
As of now, Churchill Stock is very steady. Churchill Downs secures Sharpe Ratio (or Efficiency) of 0.0197, which signifies that the company had a 0.0197% return per unit of risk over the last 3 months. We have found thirty technical indicators for Churchill Downs Incorporated, which you can use to evaluate the volatility of the firm. Please confirm Churchill Downs' Risk Adjusted Performance of 0.0178, downside deviation of 1.26, and Mean Deviation of 1.03 to double-check if the risk estimate we provide is consistent with the expected return of 0.0309%. Churchill Downs has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.15, which signifies a somewhat significant risk relative to the market. Churchill Downs returns are very sensitive to returns on the market. As the market goes up or down, Churchill Downs is expected to follow. Churchill Downs right now shows a risk of 1.56%. Please confirm Churchill Downs maximum drawdown, accumulation distribution, relative strength index, as well as the relationship between the semi variance and day typical price , to decide if Churchill Downs will be following its price patterns.
Auto-correlation | 0.70 |
Good predictability
Churchill Downs Incorporated has good predictability. Overlapping area represents the amount of predictability between Churchill Downs time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Churchill Downs price movement. The serial correlation of 0.7 indicates that around 70.0% of current Churchill Downs price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 1.57 |
Churchill Downs lagged returns against current returns
Autocorrelation, which is Churchill Downs 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 Churchill Downs' stock expected returns. We can calculate the autocorrelation of Churchill Downs returns to help us make a trade decision. For example, suppose you find that Churchill Downs 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 |
Churchill Downs 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 Churchill Downs stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Churchill Downs stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Churchill Downs stock over time.
Current vs Lagged Prices |
| Timeline |
Churchill Downs Lagged Returns
When evaluating Churchill Downs' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Churchill Downs stock have on its future price. Churchill Downs 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, Churchill Downs autocorrelation shows the relationship between Churchill Downs stock current value and its past values and can show if there is a momentum factor associated with investing in Churchill Downs Incorporated.
Regressed Prices |
| Timeline |
Pair Trading with Churchill Downs
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 Churchill Downs 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 Churchill Downs will appreciate offsetting losses from the drop in the long position's value.Moving against Churchill Stock
The ability to find closely correlated positions to Churchill Downs could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Churchill Downs 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 Churchill Downs - 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 Churchill Downs Incorporated to buy it.
The correlation of Churchill Downs 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 Churchill Downs moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Churchill Downs 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 Churchill Downs 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 Churchill Downs Correlation, Churchill Downs Volatility and Churchill Downs Alpha and Beta module to complement your research on Churchill Downs. You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Churchill Downs 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.