Ovoca Gold Beta vs. Current Valuation
| OVXA Stock | EUR 0.01 0 16.67% |
For Ovoca Gold profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Ovoca Gold to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well Ovoca Gold PLC utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between Ovoca Gold's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of Ovoca Gold PLC over time as well as its relative position and ranking within its peers.
Ovoca |
Ovoca Gold PLC Current Valuation vs. Beta Fundamental Analysis
Comparative valuation techniques use various fundamental indicators to help in determining Ovoca Gold's current stock value. Our valuation model uses many indicators to compare Ovoca Gold value to that of its competitors to determine the firm's financial worth. Ovoca Gold PLC is regarded fifth in beta category among its peers. It also is regarded fifth in current valuation category among its peers reporting about 2,238,348 of Current Valuation per Beta. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Ovoca Gold's earnings, one of the primary drivers of an investment's value.Ovoca Current Valuation vs. Beta
Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Ovoca Gold |
| = | 0.41 |
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
Enterprise Value is a firm valuation proxy that approximates the current market value of a company. It is typically used to determine the takeover or merger price of a firm. Unlike Market Cap, this measure takes into account the entire liquid asset, outstanding debt, and exotic equity instruments that the company has on its balance sheet. When a takeover occurs, the parent company will have to assume the target company's liabilities but will take possession of all cash and cash equivalents.
Ovoca Gold |
| = | 922.65 K |
Enterprise Value can be a useful tool to compare companies with different capital structures. Long term liability and current cash or cash equivalents can have a huge impact on market valuation of a given company.
Ovoca Current Valuation vs Competition
Ovoca Gold PLC is regarded fifth in current valuation category among its peers. After adjusting for long-term liabilities, total market size of Biotechnology industry is now estimated at about 16.61 Billion. Ovoca Gold adds roughly 922,647 in current valuation claiming only tiny portion of stocks in Biotechnology industry.
Beta Analysis
As returns on the market increase, Ovoca Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Ovoca Gold is expected to be smaller as well.
Ovoca Profitability Driver Comparison
Profitability drivers are factors that can directly affect your investment outlook on Ovoca Gold. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of Ovoca Gold position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the Ovoca Gold's important profitability drivers and their relationship over time.
Use Ovoca Gold in pair-trading
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 Ovoca Gold 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 Ovoca Gold will appreciate offsetting losses from the drop in the long position's value.Ovoca Gold Pair Trading
Ovoca Gold PLC Pair Trading Analysis
The ability to find closely correlated positions to Ovoca Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ovoca Gold 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 Ovoca Gold - 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 Ovoca Gold PLC to buy it.
The correlation of Ovoca Gold 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 Ovoca Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ovoca Gold PLC 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 Ovoca Gold 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.Use Investing Themes to Complement your Ovoca Gold position
In addition to having Ovoca Gold in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Large Cap ETFs Thematic Idea Now
Large Cap ETFs
ETF themes focus on helping investors to gain exposure to a broad range of assets, diversify, and lower overall costs. The Large Cap ETFs theme has 686 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Large Cap ETFs Theme or any other thematic opportunities.
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Additional Tools for Ovoca Stock Analysis
When running Ovoca Gold's price analysis, check to measure Ovoca Gold's 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 Ovoca Gold is operating at the current time. Most of Ovoca Gold's value examination focuses on studying past and present price action to predict the probability of Ovoca Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ovoca Gold's price. Additionally, you may evaluate how the addition of Ovoca Gold to your portfolios can decrease your overall portfolio volatility.