WESTERN DIGITAL (Germany) Market Value
| WDC Stock | EUR 65.31 1.74 2.60% |
| Symbol | WESTERN |
WESTERN DIGITAL '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 WESTERN DIGITAL'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 WESTERN DIGITAL.
| 09/11/2024 |
| 12/10/2024 |
If you would invest 0.00 in WESTERN DIGITAL on September 11, 2024 and sell it all today you would earn a total of 0.00 from holding WESTERN DIGITAL or generate 0.0% return on investment in WESTERN DIGITAL over 90 days. WESTERN DIGITAL is related to or competes with Pembina Pipeline, MOLSON RS, Retail Estates, BJs Wholesale, SCANSOURCE, and Thai Beverage. More
WESTERN DIGITAL 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 WESTERN DIGITAL'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 WESTERN DIGITAL upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.69 | |||
| Information Ratio | 0.0522 | |||
| Maximum Drawdown | 10.7 | |||
| Value At Risk | (2.44) | |||
| Potential Upside | 4.94 |
WESTERN DIGITAL Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for WESTERN DIGITAL's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as WESTERN DIGITAL's standard deviation. In reality, there are many statistical measures that can use WESTERN DIGITAL historical prices to predict the future WESTERN DIGITAL's volatility.| Risk Adjusted Performance | 0.0859 | |||
| Jensen Alpha | 0.2025 | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | 0.0671 | |||
| Treynor Ratio | 1.04 |
WESTERN DIGITAL Backtested Returns
WESTERN DIGITAL appears to be very steady, given 3 months investment horizon. WESTERN DIGITAL shows Sharpe Ratio of 0.11, which attests that the company had a 0.11% return per unit of risk over the last 3 months. We have found thirty technical indicators for WESTERN DIGITAL, which you can use to evaluate the volatility of the company. Please utilize WESTERN DIGITAL's Market Risk Adjusted Performance of 1.05, downside deviation of 1.69, and Mean Deviation of 1.69 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, WESTERN DIGITAL holds a performance score of 8. The firm maintains a market beta of 0.22, which attests to not very significant fluctuations relative to the market. As returns on the market increase, WESTERN DIGITAL's returns are expected to increase less than the market. However, during the bear market, the loss of holding WESTERN DIGITAL is expected to be smaller as well. Please check WESTERN DIGITAL's value at risk, downside variance, and the relationship between the maximum drawdown and potential upside , to make a quick decision on whether WESTERN DIGITAL's historical returns will revert.
Auto-correlation | 0.26 |
Poor predictability
WESTERN DIGITAL has poor predictability. Overlapping area represents the amount of predictability between WESTERN DIGITAL time series from 11th of September 2024 to 26th of October 2024 and 26th of October 2024 to 10th 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 WESTERN DIGITAL price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current WESTERN DIGITAL price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 11.38 |
WESTERN DIGITAL lagged returns against current returns
Autocorrelation, which is WESTERN DIGITAL 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 WESTERN DIGITAL's stock expected returns. We can calculate the autocorrelation of WESTERN DIGITAL returns to help us make a trade decision. For example, suppose you find that WESTERN DIGITAL 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 |
WESTERN DIGITAL 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 WESTERN DIGITAL stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if WESTERN DIGITAL stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in WESTERN DIGITAL stock over time.
Current vs Lagged Prices |
| Timeline |
WESTERN DIGITAL Lagged Returns
When evaluating WESTERN DIGITAL's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of WESTERN DIGITAL stock have on its future price. WESTERN DIGITAL 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, WESTERN DIGITAL autocorrelation shows the relationship between WESTERN DIGITAL stock current value and its past values and can show if there is a momentum factor associated with investing in WESTERN DIGITAL.
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 WESTERN Stock
When determining whether WESTERN DIGITAL offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of WESTERN DIGITAL'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 Western Digital Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Western Digital Stock:Check out WESTERN DIGITAL Correlation, WESTERN DIGITAL Volatility and WESTERN DIGITAL Alpha and Beta module to complement your research on WESTERN DIGITAL. For information on how to trade WESTERN Stock refer to our How to Trade WESTERN Stock guide.You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
WESTERN DIGITAL 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.