Ovation Science Stock Market Value
| OVATF Stock | USD 0.01 0.02 64.81% |
| Symbol | Ovation |
Ovation Science '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 Ovation Science's pink sheet 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 Ovation Science.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in Ovation Science on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding Ovation Science or generate 0.0% return on investment in Ovation Science over 30 days. Ovation Science is related to or competes with China SXT, Biofrontera, Trulieve Cannabis, Curaleaf Holdings, Green Thumb, Lifecore Biomedical, and Rockwell Medical. Ovation Science Inc. engages in the production of cannabis or hemp products in Canada, the United States, and Mexico More
Ovation Science 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 Ovation Science's pink sheet 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 Ovation Science upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 64.81 |
Ovation Science Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ovation Science's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ovation Science's standard deviation. In reality, there are many statistical measures that can use Ovation Science historical prices to predict the future Ovation Science's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (1.37) | |||
| Total Risk Alpha | (2.63) | |||
| Treynor Ratio | 0.9363 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ovation Science'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.
Ovation Science Backtested Returns
Ovation Science maintains Sharpe Ratio (i.e., Efficiency) of -0.17, which implies the firm had a -0.17% return per unit of risk over the last 3 months. Ovation Science exposes nineteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Ovation Science's Risk Adjusted Performance of (0.11), coefficient of variation of (597.17), and Variance of 80.45 to confirm the risk estimate we provide. The company holds a Beta of -1.61, which implies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Ovation Science are expected to decrease by larger amounts. On the other hand, during market turmoil, Ovation Science is expected to outperform it. At this point, Ovation Science has a negative expected return of -1.5%. Please make sure to check Ovation Science's variance, as well as the relationship between the skewness and day median price , to decide if Ovation Science performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.00 |
No correlation between past and present
Ovation Science has no correlation between past and present. Overlapping area represents the amount of predictability between Ovation Science time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th 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 Ovation Science price movement. The serial correlation of 0.0 indicates that just 0.0% of current Ovation Science price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Ovation Science lagged returns against current returns
Autocorrelation, which is Ovation Science pink sheet'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 Ovation Science's pink sheet expected returns. We can calculate the autocorrelation of Ovation Science returns to help us make a trade decision. For example, suppose you find that Ovation Science has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Ovation Science 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 Ovation Science pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ovation Science pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ovation Science pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Ovation Science Lagged Returns
When evaluating Ovation Science's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ovation Science pink sheet have on its future price. Ovation Science 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, Ovation Science autocorrelation shows the relationship between Ovation Science pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Ovation Science.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Ovation Pink Sheet
Ovation Science financial ratios help investors to determine whether Ovation Pink Sheet 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 Ovation with respect to the benefits of owning Ovation Science security.