Callaway Golf Company (MODG)
Topgolf Callaway Brands Corp. The company is headquartered in Carlsbad, California.
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 25.35% per annum.
- MODG price at the close of November 20, 2024 was $8.15 and was lower than the bottom border of the primary price channel by $0.74 (8.31%).
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 64.86% per annum.
- MODG price at the close of November 20, 2024 was inside the secondary price channel.
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 MODG 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: April 14, 2021
End date: November 20, 2024
a = 3.9014
b = -0.0008
s = 0.1269
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0008) – 1
= -25.35%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1269) – 1
= 66.15%
April 14, 2021 calculations
Top border of price channel:
Exp(Y349)
= Exp(a + b × X349 + 2 × s)
= Exp(a + b × 510 + 2 × s)
= Exp(3.9014 + -0.0008 × 510 + 2 × 0.1269)
= Exp(3.7467)
= $42.38
Bottom border of price channel:
Exp(Y349)
= Exp(a + b × X349 – 2 × s)
= Exp(a + b × 510 – 2 × s)
= Exp(3.9014 + -0.0008 × 510 – 2 × 0.1269)
= Exp(3.2390)
= $25.51
November 20, 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(3.9014 + -0.0008 × 1,826 + 2 × 0.1269)
= Exp(2.6925)
= $14.77
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.9014 + -0.0008 × 1,826 – 2 × 0.1269)
= Exp(2.1848)
= $8.89
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 25.35% per annum.
- MODG price at the close of November 20, 2024 was $8.15 and was lower than the bottom border of the primary price channel by $0.74 (8.31%).
Secondary Trend
Start date: April 1, 2024
End date: November 20, 2024
a = 7.4514
b = -0.0029
s = 0.0875
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0029) – 1
= -64.86%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0875) – 1
= 41.93%
April 1, 2024 calculations
Top border of price channel:
Exp(Y1,094)
= Exp(a + b × X1,094 + 2 × s)
= Exp(a + b × 1,593 + 2 × s)
= Exp(7.4514 + -0.0029 × 1,593 + 2 × 0.0875)
= Exp(3.0615)
= $21.36
Bottom border of price channel:
Exp(Y1,094)
= Exp(a + b × X1,094 – 2 × s)
= Exp(a + b × 1,593 – 2 × s)
= Exp(7.4514 + -0.0029 × 1,593 – 2 × 0.0875)
= Exp(2.7114)
= $15.05
November 20, 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(7.4514 + -0.0029 × 1,826 + 2 × 0.0875)
= Exp(2.3939)
= $10.96
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(7.4514 + -0.0029 × 1,826 – 2 × 0.0875)
= Exp(2.0437)
= $7.72
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 64.86% per annum.
- MODG price at the close of November 20, 2024 was inside the secondary price channel.