Voya Financial Inc (VOYA)
Voya Financial, Inc. is a retirement, investment and employee benefits company in the United States. The company is headquartered in New York, New York.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 0.74% per annum.
- VOYA price at the close of July 25, 2024 was $72.31 and was higher than the top border of the primary price channel by $5.25 (7.83%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 5.43% per annum.
- VOYA price at the close of July 25, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of VOYA price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: February 24, 2021
End date: January 10, 2023
a = 4.1455
b = 0.0000
s = 0.0486
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= -0.74%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0486) – 1
= 21.44%
February 24, 2021 calculations
Top border of price channel:
Exp(Y398)
= Exp(a + b × X398 + 2 × s)
= Exp(a + b × 579 + 2 × s)
= Exp(4.1455 + 0.0000 × 579 + 2 × 0.0486)
= Exp(4.2309)
= $68.78
Bottom border of price channel:
Exp(Y398)
= Exp(a + b × X398 – 2 × s)
= Exp(a + b × 579 – 2 × s)
= Exp(4.1455 + 0.0000 × 579 – 2 × 0.0486)
= Exp(4.0366)
= $56.63
January 10, 2023 calculations
Top border of price channel:
Exp(Y871)
= Exp(a + b × X871 + 2 × s)
= Exp(a + b × 1,264 + 2 × s)
= Exp(4.1455 + 0.0000 × 1,264 + 2 × 0.0486)
= Exp(4.2170)
= $67.83
Bottom border of price channel:
Exp(Y871)
= Exp(a + b × X871 – 2 × s)
= Exp(a + b × 1,264 – 2 × s)
= Exp(4.1455 + 0.0000 × 1,264 – 2 × 0.0486)
= Exp(4.0227)
= $55.85
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 0.74% per annum.
- VOYA price at the close of July 25, 2024 was $72.31 and was higher than the top border of the primary price channel by $5.25 (7.83%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: February 24, 2021
End date: July 25, 2024
a = 4.0065
b = 0.0001
s = 0.0536
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0001) – 1
= 5.43%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0536) – 1
= 23.92%
February 24, 2021 calculations
Top border of price channel:
Exp(Y398)
= Exp(a + b × X398 + 2 × s)
= Exp(a + b × 579 + 2 × s)
= Exp(4.0065 + 0.0001 × 579 + 2 × 0.0536)
= Exp(4.1977)
= $66.53
Bottom border of price channel:
Exp(Y398)
= Exp(a + b × X398 – 2 × s)
= Exp(a + b × 579 – 2 × s)
= Exp(4.0065 + 0.0001 × 579 – 2 × 0.0536)
= Exp(3.9832)
= $53.69
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(4.0065 + 0.0001 × 1,826 + 2 × 0.0536)
= Exp(4.3784)
= $79.71
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.0065 + 0.0001 × 1,826 – 2 × 0.0536)
= Exp(4.1640)
= $64.33
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 5.43% per annum.
- VOYA price at the close of July 25, 2024 was inside the secondary price channel.