Neogenomics Stock Market Value
| NEO Stock | USD 17.74 0.56 3.26% |
| Symbol | NeoGenomics |
NeoGenomics Price To Book Ratio
Is Life Sciences Tools & Services 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 NeoGenomics. If investors know NeoGenomics 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 NeoGenomics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.306 | Earnings Share (0.61) | Revenue Per Share 5.098 | Quarterly Revenue Growth 0.104 | Return On Assets (0.03) |
The market value of NeoGenomics is measured differently than its book value, which is the value of NeoGenomics that is recorded on the company's balance sheet. Investors also form their own opinion of NeoGenomics' value that differs from its market value or its book value, called intrinsic value, which is NeoGenomics' 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 NeoGenomics' market value can be influenced by many factors that don't directly affect NeoGenomics' 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 NeoGenomics' value and its price as these two are different measures arrived at by different means. Investors typically determine if NeoGenomics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NeoGenomics' 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.
NeoGenomics '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 NeoGenomics' 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 NeoGenomics.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in NeoGenomics on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding NeoGenomics or generate 0.0% return on investment in NeoGenomics over 720 days. NeoGenomics is related to or competes with Natera, Qiagen NV, Neogen, Guardant Health, Caredx, Myriad Genetics, and Castle Biosciences. NeoGenomics, Inc. operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia More
NeoGenomics 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 NeoGenomics' 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 NeoGenomics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.63 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 10.79 | |||
| Value At Risk | (4.75) | |||
| Potential Upside | 4.15 |
NeoGenomics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NeoGenomics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NeoGenomics' standard deviation. In reality, there are many statistical measures that can use NeoGenomics historical prices to predict the future NeoGenomics' volatility.| Risk Adjusted Performance | 0.0381 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.32) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0864 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NeoGenomics' 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.
NeoGenomics Backtested Returns
As of now, NeoGenomics Stock is not too volatile. NeoGenomics has Sharpe Ratio of 0.0551, which conveys that the firm had a 0.0551% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for NeoGenomics, which you can use to evaluate the volatility of the firm. Please verify NeoGenomics' Downside Deviation of 2.63, mean deviation of 1.95, and Risk Adjusted Performance of 0.0381 to check out if the risk estimate we provide is consistent with the expected return of 0.15%. NeoGenomics has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 1.11, which conveys a somewhat significant risk relative to the market. NeoGenomics returns are very sensitive to returns on the market. As the market goes up or down, NeoGenomics is expected to follow. NeoGenomics right now secures a risk of 2.71%. Please verify NeoGenomics maximum drawdown, as well as the relationship between the expected short fall and rate of daily change , to decide if NeoGenomics will be following its current price movements.
Auto-correlation | -0.43 |
Modest reverse predictability
NeoGenomics has modest reverse predictability. Overlapping area represents the amount of predictability between NeoGenomics 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 NeoGenomics price movement. The serial correlation of -0.43 indicates that just about 43.0% of current NeoGenomics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.43 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 2.42 |
NeoGenomics lagged returns against current returns
Autocorrelation, which is NeoGenomics 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 NeoGenomics' stock expected returns. We can calculate the autocorrelation of NeoGenomics returns to help us make a trade decision. For example, suppose you find that NeoGenomics 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 |
NeoGenomics 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 NeoGenomics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NeoGenomics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NeoGenomics stock over time.
Current vs Lagged Prices |
| Timeline |
NeoGenomics Lagged Returns
When evaluating NeoGenomics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NeoGenomics stock have on its future price. NeoGenomics 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, NeoGenomics autocorrelation shows the relationship between NeoGenomics stock current value and its past values and can show if there is a momentum factor associated with investing in NeoGenomics.
Regressed Prices |
| Timeline |
Pair Trading with NeoGenomics
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 NeoGenomics 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 NeoGenomics will appreciate offsetting losses from the drop in the long position's value.Moving against NeoGenomics Stock
The ability to find closely correlated positions to NeoGenomics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NeoGenomics 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 NeoGenomics - 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 NeoGenomics to buy it.
The correlation of NeoGenomics 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 NeoGenomics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NeoGenomics 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 NeoGenomics 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.Check out NeoGenomics Correlation, NeoGenomics Volatility and NeoGenomics Alpha and Beta module to complement your research on NeoGenomics. To learn how to invest in NeoGenomics Stock, please use our How to Invest in NeoGenomics guide.You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
NeoGenomics 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.