Novabay Pharmaceuticals Stock Market Value
| NBY Stock | USD 0.56 0.03 5.66% |
| Symbol | NovaBay |
NovaBay Pharmaceuticals Price To Book Ratio
Is Pharmaceuticals 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 NovaBay Pharmaceuticals. If investors know NovaBay 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 NovaBay Pharmaceuticals listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (74.61) | Revenue Per Share 9.028 | Quarterly Revenue Growth (0.25) | Return On Assets (0.39) | Return On Equity (2.64) |
The market value of NovaBay Pharmaceuticals is measured differently than its book value, which is the value of NovaBay that is recorded on the company's balance sheet. Investors also form their own opinion of NovaBay Pharmaceuticals' value that differs from its market value or its book value, called intrinsic value, which is NovaBay Pharmaceuticals' 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 NovaBay Pharmaceuticals' market value can be influenced by many factors that don't directly affect NovaBay Pharmaceuticals' 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 NovaBay Pharmaceuticals' value and its price as these two are different measures arrived at by different means. Investors typically determine if NovaBay Pharmaceuticals is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NovaBay Pharmaceuticals' 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.
NovaBay 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 NovaBay 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 NovaBay Pharmaceuticals.
| 12/24/2022 |
| 12/13/2024 |
If you would invest 0.00 in NovaBay Pharmaceuticals on December 24, 2022 and sell it all today you would earn a total of 0.00 from holding NovaBay Pharmaceuticals or generate 0.0% return on investment in NovaBay Pharmaceuticals over 720 days. NovaBay Pharmaceuticals is related to or competes with Immix Biopharma, Cns Pharmaceuticals, Sonnet Biotherapeutics, ZyVersa Therapeutics, Zura Bio, Altamira Therapeutics, and Enveric Biosciences. NovaBay Pharmaceuticals, Inc., a pharmaceutical company, develops and sells eyecare and skincare products in the United ... More
NovaBay 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 NovaBay 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 NovaBay Pharmaceuticals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.4 | |||
| Information Ratio | 0.048 | |||
| Maximum Drawdown | 58.17 | |||
| Value At Risk | (5.56) | |||
| Potential Upside | 9.86 |
NovaBay Pharmaceuticals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NovaBay Pharmaceuticals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NovaBay Pharmaceuticals' standard deviation. In reality, there are many statistical measures that can use NovaBay Pharmaceuticals historical prices to predict the future NovaBay Pharmaceuticals' volatility.| Risk Adjusted Performance | 0.0545 | |||
| Jensen Alpha | 0.5966 | |||
| Total Risk Alpha | (0.61) | |||
| Sortino Ratio | 0.0839 | |||
| Treynor Ratio | (0.38) |
NovaBay Pharmaceuticals Backtested Returns
NovaBay Pharmaceuticals appears to be dangerous, given 3 months investment horizon. NovaBay Pharmaceuticals has Sharpe Ratio of 0.0598, which conveys that the firm had a 0.0598% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for NovaBay Pharmaceuticals, which you can use to evaluate the volatility of the firm. Please exercise NovaBay Pharmaceuticals' Downside Deviation of 4.4, risk adjusted performance of 0.0545, and Mean Deviation of 4.28 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NovaBay Pharmaceuticals holds a performance score of 4. The company secures a Beta (Market Risk) of -1.23, which conveys a somewhat significant risk relative to the market. As returns on the market increase, returns on owning NovaBay Pharmaceuticals are expected to decrease by larger amounts. On the other hand, during market turmoil, NovaBay Pharmaceuticals is expected to outperform it. Please check NovaBay Pharmaceuticals' sortino ratio, semi variance, as well as the relationship between the Semi Variance and rate of daily change , to make a quick decision on whether NovaBay Pharmaceuticals' current price movements will revert.
Auto-correlation | 0.85 |
Very good predictability
NovaBay Pharmaceuticals has very good predictability. Overlapping area represents the amount of predictability between NovaBay Pharmaceuticals time series from 24th of December 2022 to 19th of December 2023 and 19th of December 2023 to 13th 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 NovaBay Pharmaceuticals price movement. The serial correlation of 0.85 indicates that around 85.0% of current NovaBay Pharmaceuticals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.85 | |
| Spearman Rank Test | 0.83 | |
| Residual Average | 0.0 | |
| Price Variance | 4.75 |
NovaBay Pharmaceuticals lagged returns against current returns
Autocorrelation, which is NovaBay 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 NovaBay Pharmaceuticals' stock expected returns. We can calculate the autocorrelation of NovaBay Pharmaceuticals returns to help us make a trade decision. For example, suppose you find that NovaBay 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 |
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NovaBay 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 NovaBay Pharmaceuticals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NovaBay Pharmaceuticals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NovaBay Pharmaceuticals stock over time.
Current vs Lagged Prices |
| Timeline |
NovaBay Pharmaceuticals Lagged Returns
When evaluating NovaBay Pharmaceuticals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NovaBay Pharmaceuticals stock have on its future price. NovaBay 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, NovaBay Pharmaceuticals autocorrelation shows the relationship between NovaBay Pharmaceuticals stock current value and its past values and can show if there is a momentum factor associated with investing in NovaBay Pharmaceuticals.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for NovaBay Stock Analysis
When running NovaBay Pharmaceuticals' price analysis, check to measure NovaBay Pharmaceuticals' 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 NovaBay Pharmaceuticals is operating at the current time. Most of NovaBay Pharmaceuticals' value examination focuses on studying past and present price action to predict the probability of NovaBay Pharmaceuticals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NovaBay Pharmaceuticals' price. Additionally, you may evaluate how the addition of NovaBay Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.