Concentrix Stock Market Value
| CNXC Stock | USD 64.01 0.54 0.84% |
| Symbol | Concentrix |
Concentrix Price To Book Ratio
Is Concentrix's industry 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 Concentrix. If investors know Concentrix 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 Concentrix 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 (0.55) | Dividend Share 1.155 | Earnings Share 4.78 | Revenue Per Share 137.23 | Quarterly Revenue Growth 0.468 |
The market value of Concentrix is measured differently than its book value, which is the value of Concentrix that is recorded on the company's balance sheet. Investors also form their own opinion of Concentrix's value that differs from its market value or its book value, called intrinsic value, which is Concentrix's 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 Concentrix's market value can be influenced by many factors that don't directly affect Concentrix's 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 Concentrix's value and its price as these two are different measures arrived at by different means. Investors typically determine if Concentrix is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Concentrix's 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.
Concentrix '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 Concentrix'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 Concentrix.
| 03/23/2023 |
| 05/16/2024 |
If you would invest 0.00 in Concentrix on March 23, 2023 and sell it all today you would earn a total of 0.00 from holding Concentrix or generate 0.0% return on investment in Concentrix over 420 days. Concentrix is related to or competes with Genpact, ExlService Holdings, Science Applications, CLARIVATE PLC, WNS Holdings, ASGN, and CACI International. Concentrix Corporation provides technology-infused customer experience solutions worldwide More
Concentrix 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 Concentrix'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 Concentrix upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 17.62 | |||
| Value At Risk | (4.30) | |||
| Potential Upside | 4.0 |
Concentrix Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Concentrix's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Concentrix's standard deviation. In reality, there are many statistical measures that can use Concentrix historical prices to predict the future Concentrix's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.40) | |||
| Total Risk Alpha | (0.74) | |||
| Treynor Ratio | (0.69) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Concentrix's 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.
Concentrix Backtested Returns
Concentrix secures Sharpe Ratio (or Efficiency) of -0.13, which signifies that the company had a -0.13% return per unit of risk over the last 3 months. Concentrix exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Concentrix's Risk Adjusted Performance of (0.07), standard deviation of 2.94, and Mean Deviation of 2.15 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.52, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Concentrix's returns are expected to increase less than the market. However, during the bear market, the loss of holding Concentrix is expected to be smaller as well. Concentrix has an expected return of -0.37%. Please make sure to confirm Concentrix treynor ratio, as well as the relationship between the daily balance of power and price action indicator , to decide if Concentrix performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.37 |
Below average predictability
Concentrix has below average predictability. Overlapping area represents the amount of predictability between Concentrix time series from 23rd of March 2023 to 19th of October 2023 and 19th of October 2023 to 16th of May 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 Concentrix price movement. The serial correlation of 0.37 indicates that just about 37.0% of current Concentrix price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 224.95 |
Concentrix lagged returns against current returns
Autocorrelation, which is Concentrix 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 Concentrix's stock expected returns. We can calculate the autocorrelation of Concentrix returns to help us make a trade decision. For example, suppose you find that Concentrix 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 |
Concentrix 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 Concentrix stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Concentrix stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Concentrix stock over time.
Current vs Lagged Prices |
| Timeline |
Concentrix Lagged Returns
When evaluating Concentrix's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Concentrix stock have on its future price. Concentrix 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, Concentrix autocorrelation shows the relationship between Concentrix stock current value and its past values and can show if there is a momentum factor associated with investing in Concentrix.
Regressed Prices |
| Timeline |
Pair Trading with Concentrix
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 Concentrix 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 Concentrix will appreciate offsetting losses from the drop in the long position's value.Moving together with Concentrix Stock
| 0.93 | G | Genpact Limited | PairCorr |
| 0.95 | DMRC | Digimarc Tech Boost | PairCorr |
Moving against Concentrix Stock
| 0.75 | FIS | Fidelity National | PairCorr |
| 0.55 | DTST | Data Storage Corp Tech Boost | PairCorr |
| 0.45 | FI | Fiserv Inc Symbol Change | PairCorr |
The ability to find closely correlated positions to Concentrix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Concentrix 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 Concentrix - 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 Concentrix to buy it.
The correlation of Concentrix 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 Concentrix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Concentrix 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 Concentrix 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 Concentrix Correlation, Concentrix Volatility and Concentrix Alpha and Beta module to complement your research on Concentrix. For information on how to trade Concentrix Stock refer to our How to Trade Concentrix Stock guide.You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Complementary Tools for Concentrix Stock analysis
When running Concentrix's price analysis, check to measure Concentrix's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Concentrix is operating at the current time. Most of Concentrix's value examination focuses on studying past and present price action to predict the probability of Concentrix's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Concentrix's price. Additionally, you may evaluate how the addition of Concentrix to your portfolios can decrease your overall portfolio volatility.
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Concentrix 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.