Oncolytics Biotech Stock Market Value
| ONC Stock | CAD 1.47 0.02 1.34% |
| Symbol | Oncolytics |
Oncolytics Biotech Price To Book Ratio
Oncolytics Biotech '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 Oncolytics Biotech'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 Oncolytics Biotech.
| 03/29/2024 |
| 04/28/2024 |
If you would invest 0.00 in Oncolytics Biotech on March 29, 2024 and sell it all today you would earn a total of 0.00 from holding Oncolytics Biotech or generate 0.0% return on investment in Oncolytics Biotech over 30 days. Oncolytics Biotech is related to or competes with Theratechnologies, and Aptose Biosciences. Oncolytics Biotech Inc., a development stage biopharmaceutical company, focuses on the discovery and development of phar... More
Oncolytics Biotech 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 Oncolytics Biotech'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 Oncolytics Biotech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 31.1 | |||
| Value At Risk | (8.44) | |||
| Potential Upside | 8.51 |
Oncolytics Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oncolytics Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oncolytics Biotech's standard deviation. In reality, there are many statistical measures that can use Oncolytics Biotech historical prices to predict the future Oncolytics Biotech's volatility.| Risk Adjusted Performance | 5.0E-4 | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | (0.1) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Oncolytics Biotech'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.
Oncolytics Biotech Backtested Returns
Oncolytics Biotech maintains Sharpe Ratio (i.e., Efficiency) of -0.0119, which implies the firm had a -0.0119% return per unit of risk over the last 3 months. Oncolytics Biotech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Oncolytics Biotech's Risk Adjusted Performance of 5.0E-4, variance of 23.69, and Coefficient Of Variation of (7,557) to confirm the risk estimate we provide. The company holds a Beta of 0.76, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Oncolytics Biotech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Oncolytics Biotech is expected to be smaller as well. Oncolytics Biotech has an expected return of -0.0585%. Please make sure to check Oncolytics Biotech skewness, day typical price, and the relationship between the maximum drawdown and daily balance of power , to decide if Oncolytics Biotech performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.08 |
Very weak reverse predictability
Oncolytics Biotech has very weak reverse predictability. Overlapping area represents the amount of predictability between Oncolytics Biotech time series from 29th of March 2024 to 13th of April 2024 and 13th of April 2024 to 28th of April 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 Oncolytics Biotech price movement. The serial correlation of -0.08 indicates that barely 8.0% of current Oncolytics Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.08 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Oncolytics Biotech lagged returns against current returns
Autocorrelation, which is Oncolytics Biotech 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 Oncolytics Biotech's stock expected returns. We can calculate the autocorrelation of Oncolytics Biotech returns to help us make a trade decision. For example, suppose you find that Oncolytics Biotech 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 |
Oncolytics Biotech 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 Oncolytics Biotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oncolytics Biotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oncolytics Biotech stock over time.
Current vs Lagged Prices |
| Timeline |
Oncolytics Biotech Lagged Returns
When evaluating Oncolytics Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oncolytics Biotech stock have on its future price. Oncolytics Biotech 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, Oncolytics Biotech autocorrelation shows the relationship between Oncolytics Biotech stock current value and its past values and can show if there is a momentum factor associated with investing in Oncolytics Biotech.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Oncolytics Biotech in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Oncolytics Biotech's short interest history, or implied volatility extrapolated from Oncolytics Biotech options trading.
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Try AI Portfolio ArchitectCheck out Oncolytics Biotech Correlation, Oncolytics Biotech Volatility and Oncolytics Biotech Alpha and Beta module to complement your research on Oncolytics Biotech. To learn how to invest in Oncolytics Stock, please use our How to Invest in Oncolytics Biotech guide.Note that the Oncolytics Biotech information on this page should be used as a complementary analysis to other Oncolytics Biotech's 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 the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Complementary Tools for Oncolytics Stock analysis
When running Oncolytics Biotech's price analysis, check to measure Oncolytics Biotech'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 Oncolytics Biotech is operating at the current time. Most of Oncolytics Biotech's value examination focuses on studying past and present price action to predict the probability of Oncolytics Biotech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Oncolytics Biotech's price. Additionally, you may evaluate how the addition of Oncolytics Biotech to your portfolios can decrease your overall portfolio volatility.
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Oncolytics Biotech 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.