Elevation Oncology Stock Market Value
| ELEV Stock | USD 0.62 0.01 0.89% |
| Symbol | Elevation |
Elevation Oncology Price To Book Ratio
Is Biotechnology space 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 Elevation Oncology. If investors know Elevation 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 Elevation Oncology listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.80) | Return On Assets (0.25) | Return On Equity (0.64) |
The market value of Elevation Oncology is measured differently than its book value, which is the value of Elevation that is recorded on the company's balance sheet. Investors also form their own opinion of Elevation Oncology's value that differs from its market value or its book value, called intrinsic value, which is Elevation Oncology's 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 Elevation Oncology's market value can be influenced by many factors that don't directly affect Elevation Oncology's 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 Elevation Oncology's value and its price as these two are different measures arrived at by different means. Investors typically determine if Elevation Oncology is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Elevation Oncology's 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.
Elevation Oncology '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 Elevation Oncology'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 Elevation Oncology.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Elevation Oncology on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Elevation Oncology or generate 0.0% return on investment in Elevation Oncology over 720 days. Elevation Oncology is related to or competes with Bright Minds, HP, Intel, Chevron Corp, Coca Cola, Travelers Companies, and Johnson Johnson. Elevation Oncology, Inc., a clinical-stage biopharmaceutical company, focuses on developing therapeutics for the treatme... More
Elevation Oncology 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 Elevation Oncology'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 Elevation Oncology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 22.21 | |||
| Value At Risk | (8.22) | |||
| Potential Upside | 5.77 |
Elevation Oncology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elevation Oncology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elevation Oncology's standard deviation. In reality, there are many statistical measures that can use Elevation Oncology historical prices to predict the future Elevation Oncology's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.50) | |||
| Total Risk Alpha | (0.96) | |||
| Treynor Ratio | (0.12) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Elevation Oncology'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.
Elevation Oncology Backtested Returns
Elevation Oncology secures Sharpe Ratio (or Efficiency) of -0.0556, which denotes the company had a -0.0556% return per unit of risk over the last 3 months. Elevation Oncology exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elevation Oncology's Standard Deviation of 4.51, variance of 20.38, and Mean Deviation of 3.52 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 2.08, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Elevation Oncology will likely underperform. At this point, Elevation Oncology has a negative expected return of -0.25%. Please make sure to confirm Elevation Oncology's treynor ratio, as well as the relationship between the kurtosis and day typical price , to decide if Elevation Oncology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.69 |
Good predictability
Elevation Oncology has good predictability. Overlapping area represents the amount of predictability between Elevation Oncology time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th of November 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 Elevation Oncology price movement. The serial correlation of 0.69 indicates that around 69.0% of current Elevation Oncology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 2.36 |
Elevation Oncology lagged returns against current returns
Autocorrelation, which is Elevation Oncology 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 Elevation Oncology's stock expected returns. We can calculate the autocorrelation of Elevation Oncology returns to help us make a trade decision. For example, suppose you find that Elevation Oncology 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 |
Elevation Oncology 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 Elevation Oncology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elevation Oncology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elevation Oncology stock over time.
Current vs Lagged Prices |
| Timeline |
Elevation Oncology Lagged Returns
When evaluating Elevation Oncology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elevation Oncology stock have on its future price. Elevation Oncology 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, Elevation Oncology autocorrelation shows the relationship between Elevation Oncology stock current value and its past values and can show if there is a momentum factor associated with investing in Elevation Oncology.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Elevation Stock Analysis
When running Elevation Oncology's price analysis, check to measure Elevation Oncology'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 Elevation Oncology is operating at the current time. Most of Elevation Oncology's value examination focuses on studying past and present price action to predict the probability of Elevation Oncology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elevation Oncology's price. Additionally, you may evaluate how the addition of Elevation Oncology to your portfolios can decrease your overall portfolio volatility.