Co Diagnostics Stock Performance

CODX
 Stock
  

USD 3.12  0.20  6.02%   

The firm owns a Beta (Systematic Risk) of 1.1054, which signifies a somewhat significant risk relative to the market. Let's try to break down what Co Diagnostics's beta means in this case. Co Diagnostics returns are very sensitive to returns on the market. As the market goes up or down, Co Diagnostics is expected to follow. Even though it is essential to pay attention to Co-Diagnostics existing price patterns, it is always good to be careful when utilizing equity price patterns. Our approach into foreseeing any stock's future performance is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Co Diagnostics exposes twenty-eight different technical indicators, which can help you to evaluate its performance. Co-Diagnostics has an expected return of -0.14%. Please be advised to confirm Co-Diagnostics maximum drawdown, and the relationship between the information ratio and expected short fall to decide if Co-Diagnostics performance from the past will be repeated in the future.
  
Co Diagnostics Performance
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Over the last 90 days Co-Diagnostics has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest uncertain performance, the Stock's fundamental indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors. ...more

Co Diagnostics Price Channel

Quick Ratio15.83
Fifty Two Week Low2.7600
Target High Price25.00
Fifty Two Week High10.9000
Target Low Price4.00

Co Diagnostics Relative Risk vs. Return Landscape

If you would invest  355.00  in Co-Diagnostics on August 30, 2022 and sell it today you would lose (41.00)  from holding Co-Diagnostics or give up 11.55% of portfolio value over 90 days. Co-Diagnostics is currently does not generate positive expected returns and assumes 3.3715% risk (volatility on return distribution) over the 90 days horizon. In different words, 29% of stocks are less volatile than Co Diagnostics, and 99% of all traded equity instruments are projected to make higher returns than the company over the 90 days investment horizon.
  Daily Expected Return (%)  
       Risk (%)  
Given the investment horizon of 90 days Co Diagnostics is expected to under-perform the market. In addition to that, the company is 2.44 times more volatile than its market benchmark. It trades about -0.04 of its total potential returns per unit of risk. The DOW is currently generating roughly 0.08 per unit of volatility.

Co Diagnostics Market Risk Analysis

Today, many novice investors tend to focus exclusively on investment returns with little concern for Co Diagnostics' investment risk. Standard deviation is the most common way to measure market volatility of stocks, such as Co-Diagnostics, and traders can use it to determine the average amount a Co Diagnostics' price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.

Sharpe Ratio = -0.0401

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Estimated Market Risk
 3.37
  actual daily
 
 29 %
of total potential
 
2929
Expected Return
 -0.14
  actual daily
 
 0 %
of total potential
 
00
Risk-Adjusted Return
 -0.04
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 0 %
of total potential
 
00
Based on monthly moving average Co Diagnostics is performing at about 0% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Co Diagnostics by adding it to a well-diversified portfolio.

About Co Diagnostics Performance

To evaluate Co-Diagnostics Stock as a possible investment, you need to clearly understand its upside potential, downside risk, and overall future performance outlook. You may be satisfied when Co Diagnostics generates a 15% return over the last few months, but what if the market is generating 25% over the same period? In this case, it makes sense to compare Co Diagnostics Stock's performance with different market indexes, such as the Dow or NASDAQ Composite. These indexes can act as benchmarks that will help you to understand Co-Diagnostics market performance in a much more refined way. The Macroaxis performance score is an integer between 0 and 100 that represents Co Diagnostics's market performance from a risk-adjusted return perspective. Generally speaking, the higher the score, the better is overall performance as compared to other investors. The score is normalized against the average investing universe (the best we can interpret from the data available). Within this methodology, scores of individual equity instruments will always be inferior to the scores of portfolios of equities as portfolios typically diversify a lot of unsystematic risks away. The formula to derive the Macroaxis score bases on multiple unequally-weighted factors. For more information, refer to our portfolio performance evaluation section.
Please also refer to our technical analysis and fundamental analysis pages.
Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection andor analysis of nucleic acid molecules in the United States and internationally. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah. Co Diagnostics operates under Medical Devices classification in the United States and is traded on NASDAQ Exchange. It employs 101 people.

Things to note about Co-Diagnostics

Checking the ongoing alerts about Co Diagnostics for important developments is a great way to find new opportunities for your next move. Stock alerts and notifications screener for Co-Diagnostics help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.

Co Diagnostics Alerts

Equity Alerts and Improvement Suggestions

Co-Diagnostics generated a negative expected return over the last 90 days
Co-Diagnostics has high historical volatility and very poor performance
Co-Diagnostics has high likelihood to experience some financial distress in the next 2 years
Latest headline from MacroaxisInsider: Acquisition by Eugene Durenard of 11667 shares of Co Diagnostics subject to Rule 16b-3
Continue to Trending Equities. Note that the Co-Diagnostics information on this page should be used as a complementary analysis to other Co Diagnostics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

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Is Co Diagnostics' 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 Co Diagnostics. If investors know Co Diagnostics 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 Co Diagnostics 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 YOY
0.31
Market Capitalization
102.6 M
Quarterly Revenue Growth YOY
(0.83) 
Return On Assets
0.0467
Return On Equity
0.13
The market value of Co-Diagnostics is measured differently than its book value, which is the value of Co Diagnostics that is recorded on the company's balance sheet. Investors also form their own opinion of Co Diagnostics' value that differs from its market value or its book value, called intrinsic value, which is Co Diagnostics' 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 Co Diagnostics' market value can be influenced by many factors that don't directly affect Co Diagnostics' 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 Co Diagnostics' value and its price as these two are different measures arrived at by different means. Investors typically determine Co Diagnostics value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Co Diagnostics' 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.