Hls Therapeutics Stock Market Value
| HLS Stock | CAD 3.41 0.04 1.16% |
| Symbol | HLS |
HLS Therapeutics Price To Book Ratio
HLS Therapeutics '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 HLS Therapeutics' 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 HLS Therapeutics.
| 08/19/2023 |
| 12/11/2024 |
If you would invest 0.00 in HLS Therapeutics on August 19, 2023 and sell it all today you would earn a total of 0.00 from holding HLS Therapeutics or generate 0.0% return on investment in HLS Therapeutics over 480 days. HLS Therapeutics is related to or competes with Profound Medical, Medicenna Therapeutics, Knight Therapeutics, and Aptose Biosciences. HLS Therapeutics Inc., a specialty pharmaceutical company, focuses on acquiring and commercializing pharmaceutical produ... More
HLS Therapeutics 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 HLS Therapeutics' 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 HLS Therapeutics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.55 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 18.04 | |||
| Value At Risk | (3.56) | |||
| Potential Upside | 6.12 |
HLS Therapeutics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for HLS Therapeutics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as HLS Therapeutics' standard deviation. In reality, there are many statistical measures that can use HLS Therapeutics historical prices to predict the future HLS Therapeutics' volatility.| Risk Adjusted Performance | 0.0223 | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.42) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0303 |
HLS Therapeutics Backtested Returns
As of now, HLS Stock is relatively risky. HLS Therapeutics holds Efficiency (Sharpe) Ratio of 0.0256, which attests that the entity had a 0.0256% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for HLS Therapeutics, which you can use to evaluate the volatility of the firm. Please check out HLS Therapeutics' market risk adjusted performance of 0.0403, and Risk Adjusted Performance of 0.0223 to validate if the risk estimate we provide is consistent with the expected return of 0.0773%. HLS Therapeutics has a performance score of 2 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 1.67, which attests to 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, HLS Therapeutics will likely underperform. HLS Therapeutics currently retains a risk of 3.02%. Please check out HLS Therapeutics semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if HLS Therapeutics will be following its current trending patterns.
Auto-correlation | 0.48 |
Average predictability
HLS Therapeutics has average predictability. Overlapping area represents the amount of predictability between HLS Therapeutics time series from 19th of August 2023 to 15th of April 2024 and 15th of April 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 HLS Therapeutics price movement. The serial correlation of 0.48 indicates that about 48.0% of current HLS Therapeutics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 0.22 |
HLS Therapeutics lagged returns against current returns
Autocorrelation, which is HLS Therapeutics 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 HLS Therapeutics' stock expected returns. We can calculate the autocorrelation of HLS Therapeutics returns to help us make a trade decision. For example, suppose you find that HLS Therapeutics 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 |
HLS Therapeutics 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 HLS Therapeutics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if HLS Therapeutics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in HLS Therapeutics stock over time.
Current vs Lagged Prices |
| Timeline |
HLS Therapeutics Lagged Returns
When evaluating HLS Therapeutics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of HLS Therapeutics stock have on its future price. HLS Therapeutics 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, HLS Therapeutics autocorrelation shows the relationship between HLS Therapeutics stock current value and its past values and can show if there is a momentum factor associated with investing in HLS Therapeutics.
Regressed Prices |
| Timeline |
Pair Trading with HLS Therapeutics
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 HLS Therapeutics 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 HLS Therapeutics will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to HLS Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HLS Therapeutics 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 HLS Therapeutics - 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 HLS Therapeutics to buy it.
The correlation of HLS Therapeutics 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 HLS Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HLS Therapeutics 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 HLS Therapeutics 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 HLS Stock
HLS Therapeutics financial ratios help investors to determine whether HLS 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 HLS with respect to the benefits of owning HLS Therapeutics security.