Workday (Germany) Market Value
| W7D Stock | EUR 253.45 7.50 2.87% |
| Symbol | Workday |
Workday '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 Workday'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 Workday.
| 09/28/2024 |
| 12/27/2024 |
If you would invest 0.00 in Workday on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding Workday or generate 0.0% return on investment in Workday over 90 days. Workday is related to or competes with Salesforce, ServiceNow, Uber Technologies, Shopify, Datadog. Workday, Inc. provides enterprise cloud applications worldwide More
Workday 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 Workday'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 Workday upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.01 | |||
| Information Ratio | 0.0754 | |||
| Maximum Drawdown | 12.86 | |||
| Value At Risk | (3.24) | |||
| Potential Upside | 4.2 |
Workday Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Workday's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Workday's standard deviation. In reality, there are many statistical measures that can use Workday historical prices to predict the future Workday's volatility.| Risk Adjusted Performance | 0.0852 | |||
| Jensen Alpha | 0.2094 | |||
| Total Risk Alpha | 0.0902 | |||
| Sortino Ratio | 0.0841 | |||
| Treynor Ratio | 2.9 |
Workday Backtested Returns
Workday appears to be very steady, given 3 months investment horizon. Workday shows Sharpe Ratio of 0.12, which attests that the company had a 0.12% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Workday, which you can use to evaluate the volatility of the company. Please utilize Workday's Market Risk Adjusted Performance of 2.91, mean deviation of 1.68, and Downside Deviation of 2.01 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Workday holds a performance score of 9. The firm maintains a market beta of 0.0734, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Workday's returns are expected to increase less than the market. However, during the bear market, the loss of holding Workday is expected to be smaller as well. Please check Workday's treynor ratio, value at risk, downside variance, as well as the relationship between the maximum drawdown and potential upside , to make a quick decision on whether Workday's historical returns will revert.
Auto-correlation | -0.06 |
Very weak reverse predictability
Workday has very weak reverse predictability. Overlapping area represents the amount of predictability between Workday time series from 28th of September 2024 to 12th of November 2024 and 12th of November 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 Workday price movement. The serial correlation of -0.06 indicates that barely 6.0% of current Workday price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 63.04 |
Workday lagged returns against current returns
Autocorrelation, which is Workday 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 Workday's stock expected returns. We can calculate the autocorrelation of Workday returns to help us make a trade decision. For example, suppose you find that Workday 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 |
Workday 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 Workday stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Workday stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Workday stock over time.
Current vs Lagged Prices |
| Timeline |
Workday Lagged Returns
When evaluating Workday's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Workday stock have on its future price. Workday 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, Workday autocorrelation shows the relationship between Workday stock current value and its past values and can show if there is a momentum factor associated with investing in Workday.
Regressed Prices |
| Timeline |
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Additional Information and Resources on Investing in Workday Stock
When determining whether Workday offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Workday's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Workday Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Workday Stock:Check out Workday Correlation, Workday Volatility and Workday Alpha and Beta module to complement your research on Workday. For more detail on how to invest in Workday Stock please use our How to Invest in Workday guide.You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Workday 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.