Cipher Pharmaceuticals Stock Market Value
| CPH Stock | CAD 14.92 0.74 4.73% |
| Symbol | Cipher |
Cipher Pharmaceuticals Price To Book Ratio
Cipher Pharmaceuticals '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 Cipher Pharmaceuticals' 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 Cipher Pharmaceuticals.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in Cipher Pharmaceuticals on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding Cipher Pharmaceuticals or generate 0.0% return on investment in Cipher Pharmaceuticals over 90 days. Cipher Pharmaceuticals is related to or competes with Knight Therapeutics, Biosyent, and Aptose Biosciences. Cipher Pharmaceuticals Inc. operates as a specialty pharmaceutical company in Canada More
Cipher Pharmaceuticals 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 Cipher Pharmaceuticals' 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 Cipher Pharmaceuticals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 20.09 | |||
| Value At Risk | (6.81) | |||
| Potential Upside | 6.07 |
Cipher Pharmaceuticals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cipher Pharmaceuticals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cipher Pharmaceuticals' standard deviation. In reality, there are many statistical measures that can use Cipher Pharmaceuticals historical prices to predict the future Cipher Pharmaceuticals' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.83) | |||
| Treynor Ratio | 1.38 |
Cipher Pharmaceuticals Backtested Returns
Cipher Pharmaceuticals secures Sharpe Ratio (or Efficiency) of -0.0591, which signifies that the company had a -0.0591% return per unit of risk over the last 3 months. Cipher Pharmaceuticals exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cipher Pharmaceuticals' Risk Adjusted Performance of (0.03), standard deviation of 3.91, and Mean Deviation of 2.77 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.15, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Cipher Pharmaceuticals are expected to decrease at a much lower rate. During the bear market, Cipher Pharmaceuticals is likely to outperform the market. At this point, Cipher Pharmaceuticals has a negative expected return of -0.24%. Please make sure to confirm Cipher Pharmaceuticals' maximum drawdown, daily balance of power, relative strength index, as well as the relationship between the skewness and day typical price , to decide if Cipher Pharmaceuticals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.46 |
Average predictability
Cipher Pharmaceuticals has average predictability. Overlapping area represents the amount of predictability between Cipher Pharmaceuticals time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th of December 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 Cipher Pharmaceuticals price movement. The serial correlation of 0.46 indicates that about 46.0% of current Cipher Pharmaceuticals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.46 | |
| Spearman Rank Test | -0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.78 |
Cipher Pharmaceuticals lagged returns against current returns
Autocorrelation, which is Cipher Pharmaceuticals 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 Cipher Pharmaceuticals' stock expected returns. We can calculate the autocorrelation of Cipher Pharmaceuticals returns to help us make a trade decision. For example, suppose you find that Cipher Pharmaceuticals 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 |
Cipher Pharmaceuticals 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 Cipher Pharmaceuticals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cipher Pharmaceuticals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cipher Pharmaceuticals stock over time.
Current vs Lagged Prices |
| Timeline |
Cipher Pharmaceuticals Lagged Returns
When evaluating Cipher Pharmaceuticals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cipher Pharmaceuticals stock have on its future price. Cipher Pharmaceuticals 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, Cipher Pharmaceuticals autocorrelation shows the relationship between Cipher Pharmaceuticals stock current value and its past values and can show if there is a momentum factor associated with investing in Cipher Pharmaceuticals.
Regressed Prices |
| Timeline |
Pair Trading with Cipher Pharmaceuticals
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Cipher Pharmaceuticals position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Cipher Pharmaceuticals will appreciate offsetting losses from the drop in the long position's value.Moving against Cipher Stock
The ability to find closely correlated positions to Cipher Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cipher Pharmaceuticals when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Cipher Pharmaceuticals - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Cipher Pharmaceuticals to buy it.
The correlation of Cipher Pharmaceuticals is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cipher Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cipher Pharmaceuticals moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Cipher Pharmaceuticals can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Cipher Stock
Cipher Pharmaceuticals financial ratios help investors to determine whether Cipher Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Cipher with respect to the benefits of owning Cipher Pharmaceuticals security.