Onto Innovation Stock Market Value
| ONTO Stock | USD 161.04 1.86 1.14% |
| Symbol | Onto |
Onto Innovation Price To Book Ratio
Is Semiconductors & Semiconductor Equipment 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 Onto Innovation. If investors know Onto 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 Onto Innovation 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 0.466 | Earnings Share 3.7 | Revenue Per Share 19.124 | Quarterly Revenue Growth 0.217 | Return On Assets 0.055 |
The market value of Onto Innovation is measured differently than its book value, which is the value of Onto that is recorded on the company's balance sheet. Investors also form their own opinion of Onto Innovation's value that differs from its market value or its book value, called intrinsic value, which is Onto Innovation'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 Onto Innovation's market value can be influenced by many factors that don't directly affect Onto Innovation'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 Onto Innovation's value and its price as these two are different measures arrived at by different means. Investors typically determine if Onto Innovation is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Onto Innovation'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.
Onto Innovation '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 Onto Innovation'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 Onto Innovation.
| 12/10/2022 |
| 11/29/2024 |
If you would invest 0.00 in Onto Innovation on December 10, 2022 and sell it all today you would earn a total of 0.00 from holding Onto Innovation or generate 0.0% return on investment in Onto Innovation over 720 days. Onto Innovation is related to or competes with Camtek, Amtech Systems, Veeco Instruments, Ichor Holdings, Cohu, Photronics, and Ultra Clean. Onto Innovation Inc. engages in the design, development, manufacture, and support of process control tools that performs... More
Onto Innovation 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 Onto Innovation'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 Onto Innovation upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 20.62 | |||
| Value At Risk | (5.73) | |||
| Potential Upside | 5.66 |
Onto Innovation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Onto Innovation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Onto Innovation's standard deviation. In reality, there are many statistical measures that can use Onto Innovation historical prices to predict the future Onto Innovation's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.58) | |||
| Total Risk Alpha | (0.90) | |||
| Treynor Ratio | (0.17) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Onto Innovation'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.
Onto Innovation Backtested Returns
Onto Innovation maintains Sharpe Ratio (i.e., Efficiency) of -0.0516, which implies the firm had a -0.0516% return per unit of risk over the last 3 months. Onto Innovation exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Onto Innovation's Risk Adjusted Performance of (0.06), coefficient of variation of (1,100), and Variance of 13.6 to confirm the risk estimate we provide. The company holds a Beta of 2.0, which implies 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, Onto Innovation will likely underperform. At this point, Onto Innovation has a negative expected return of -0.18%. Please make sure to check Onto Innovation's maximum drawdown, daily balance of power, as well as the relationship between the Daily Balance Of Power and period momentum indicator , to decide if Onto Innovation performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.49 |
Average predictability
Onto Innovation has average predictability. Overlapping area represents the amount of predictability between Onto Innovation time series from 10th of December 2022 to 5th of December 2023 and 5th of December 2023 to 29th 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 Onto Innovation price movement. The serial correlation of 0.49 indicates that about 49.0% of current Onto Innovation price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.49 | |
| Spearman Rank Test | 0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 651.06 |
Onto Innovation lagged returns against current returns
Autocorrelation, which is Onto Innovation 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 Onto Innovation's stock expected returns. We can calculate the autocorrelation of Onto Innovation returns to help us make a trade decision. For example, suppose you find that Onto Innovation 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 |
Onto Innovation 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 Onto Innovation stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Onto Innovation stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Onto Innovation stock over time.
Current vs Lagged Prices |
| Timeline |
Onto Innovation Lagged Returns
When evaluating Onto Innovation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Onto Innovation stock have on its future price. Onto Innovation 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, Onto Innovation autocorrelation shows the relationship between Onto Innovation stock current value and its past values and can show if there is a momentum factor associated with investing in Onto Innovation.
Regressed Prices |
| Timeline |
Pair Trading with Onto Innovation
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 Onto Innovation 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 Onto Innovation will appreciate offsetting losses from the drop in the long position's value.Moving together with Onto Stock
Moving against Onto Stock
The ability to find closely correlated positions to Onto Innovation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Onto Innovation 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 Onto Innovation - 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 Onto Innovation to buy it.
The correlation of Onto Innovation 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 Onto Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Onto Innovation 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 Onto Innovation 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 Onto Innovation Correlation, Onto Innovation Volatility and Onto Innovation Alpha and Beta module to complement your research on Onto Innovation. To learn how to invest in Onto Stock, please use our How to Invest in Onto Innovation guide.You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Onto Innovation 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.