Medtronic Backtesting

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MDT -- USA Stock  

Fiscal Quarter End: 31st of July 2020  

With this equity back-testing module your can estimate the performance of a buy and hold strategy of Medtronic plc and determine expected loss or profit from investing in Medtronic Plc over given investment horizon. Additionally, see Medtronic Plc Hype Analysis, Medtronic Plc Correlation, Medtronic Plc Valuation, Medtronic Plc Volatility as well as analyze Medtronic Plc Alpha and Beta and Medtronic Plc Performance.

Medtronic Plc 'What if' Analysis

No Change 0.00  0.0 
In 3 months and 1 day
If you would invest  0.00  in Medtronic Plc on March 8, 2020 and sell it all today you would earn a total of 0.00 from holding Medtronic plc or generate 0.0% return on investment in Medtronic Plc over 90 days. Medtronic Plc is related to or competes with ESCALON MEDICAL, Electromed, Second Sight, EDAP TMS, Establishment Labs, Digirad, and Dynatronics. Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, cl...

Medtronic Plc Upside/Downside Indicators

Downside Deviation4.97
Information Ratio(0.005599)
Maximum Drawdown36.19
Value At Risk(6.73)
Potential Upside8.05

Medtronic Plc Market Premium Indicators

Risk Adjusted Performance0.0613
Jensen Alpha(0.004951)
Total Risk Alpha(0.05)
Sortino Ratio(0.005743)
Treynor Ratio0.0876

Medtronic plc Backtested Returns

Macroaxis considers Medtronic Plc very steady given 3 months investment horizon. Medtronic plc has Sharpe Ratio of 0.0556, which conveys that the firm had 0.0556% of return per unit of risk over the last 3 months. Our philosophy towards estimating the volatility of a stock is to use all available market data together with stock specific technical indicators that cannot be diversified away. We have found twenty-eight technical indicators for Medtronic Plc, which you can use to evaluate future volatility of the firm. Please exercise Medtronic plc Downside Deviation of 4.97, Mean Deviation of 3.39 and Risk Adjusted Performance of 0.0613 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100 Medtronic Plc holds performance score of 3. The company secures a Beta (Market Risk) of 0.7497, which conveys that as returns on market increase, Medtronic Plc returns are expected to increase less than the market. However, during bear market, the loss on holding Medtronic Plc will be expected to be smaller as well. Although it is vital to follow to Medtronic plc price patterns, it is good to be conservative about what you can actually do with the information regarding equity historical price patterns. The philosophy towards estimating future performance of any stock is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators. By analyzing Medtronic plc technical indicators you can presently evaluate if the expected return of 0.2837% will be sustainable into the future. Please exercises Medtronic plc Value At Risk, and the relationship between Jensen Alpha and Skewness to make a quick decision on weather Medtronic plc current price movements will revert.
AdviceVolatility TrendExposureCorrelations
15 days auto-correlation(0.11) 
correlation synergy

Insignificant reverse predictability

Medtronic plc has insignificant reverse predictability. Overlapping area represents the amount of predictability between Medtronic Plc time series from 8th of March 2020 to 22nd of April 2020 and 22nd of April 2020 to 6th of June 2020. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Medtronic plc price movement. The serial correlation of -0.11 indicates that less than 11.0% of current Medtronic Plc price fluctuation can be explain by its past prices. Given that Medtronic plc has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Medtronic Plc for similar time interval.
Correlation Coefficient-0.11
Spearman Rank Test-0.17
Residual Average0.0
Price Variance3.9

Medtronic plc lagged returns against current returns

 Current and Lagged Values 

Medtronic Plc regressed lagged prices vs. current prices

 Current vs Lagged Prices 

Medtronic Plc Lagged Returns

 Regressed Prices 

Current Sentiment - MDT

Medtronic plc Investor Sentiment

Predominant part of Macroaxis users are now bullish on Medtronic plc. What is your trading attitude regarding investing in Medtronic plc? Are you bullish or bearish?
98% Bullish
2% Bearish

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Additionally, see Medtronic Plc Hype Analysis, Medtronic Plc Correlation, Medtronic Plc Valuation, Medtronic Plc Volatility as well as analyze Medtronic Plc Alpha and Beta and Medtronic Plc Performance. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Macroaxis is not a registered investment advisor or broker/dealer. All investments, including stocks, funds, ETFs, or cryptocurrencies, are speculative and involve substantial risk of loss. We encourage our investors to invest carefully. Much of our information is derived directly from data published by companies or submitted to governmental agencies which we believe are reliable, but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements or recommendations. Also, note that past performance is not necessarily indicative of future results. All investments carry risk, and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any investing they choose to do. Hypothetical or simulated performance is not indicative of future results. We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown because hypothetical or simulated performance is not necessarily indicative of future results. For more information please visit our terms and condition page