Aurora Spine Corp Stock Market Value

ASG Stock  CAD 0.34  0.02  6.25%   
Aurora Spine's market value is the price at which a share of Aurora Spine trades on a public exchange. It measures the collective expectations of Aurora Spine Corp investors about its performance. Aurora Spine is selling for under 0.34 as of the 28th of March 2024; that is 6.25 percent up since the beginning of the trading day. The stock's lowest day price was 0.34.
With this module, you can estimate the performance of a buy and hold strategy of Aurora Spine Corp and determine expected loss or profit from investing in Aurora Spine over a given investment horizon. Check out Aurora Spine Correlation, Aurora Spine Volatility and Aurora Spine Alpha and Beta module to complement your research on Aurora Spine.
Symbol

Aurora Spine Corp Price To Book Ratio

Please note, there is a significant difference between Aurora Spine's value and its price as these two are different measures arrived at by different means. Investors typically determine if Aurora Spine is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Aurora Spine'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.

Aurora Spine '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 Aurora Spine'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 Aurora Spine.
0.00
06/07/2022
No Change 0.00  0.0 
In 1 year 9 months and 22 days
03/28/2024
0.00
If you would invest  0.00  in Aurora Spine on June 7, 2022 and sell it all today you would earn a total of 0.00 from holding Aurora Spine Corp or generate 0.0% return on investment in Aurora Spine over 660 days. Aurora Spine is related to or competes with Medical Facilities, Sienna Senior, WELL Health, Extendicare, Cardiol Therapeutics, Cronos, and Cipher Pharmaceuticals. Aurora Spine Corporation, through its subsidiary, Aurora Spine, Inc., engages in the development and commercialization o... More

Aurora Spine 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 Aurora Spine'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 Aurora Spine Corp upside and downside potential and time the market with a certain degree of confidence.

Aurora Spine Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Aurora Spine's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aurora Spine's standard deviation. In reality, there are many statistical measures that can use Aurora Spine historical prices to predict the future Aurora Spine's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Aurora Spine'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.
Hype
Prediction
LowEstimatedHigh
0.020.346.65
Details
Intrinsic
Valuation
LowRealHigh
0.010.296.60
Details
Naive
Forecast
LowNextHigh
0.010.316.62
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
0.310.330.35
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Aurora Spine. Your research has to be compared to or analyzed against Aurora Spine's peers to derive any actionable benefits. When done correctly, Aurora Spine's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Aurora Spine Corp.

Aurora Spine Corp Backtested Returns

Aurora Spine Corp secures Sharpe Ratio (or Efficiency) of -0.0116, which signifies that the company had a -0.0116% return per unit of risk over the last 3 months. Aurora Spine Corp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Aurora Spine's Standard Deviation of 6.2, mean deviation of 3.8, and Risk Adjusted Performance of 0.004 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.23, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Aurora Spine's returns are expected to increase less than the market. However, during the bear market, the loss of holding Aurora Spine is expected to be smaller as well. Aurora Spine Corp has an expected return of -0.072%. Please make sure to confirm Aurora Spine Corp potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if Aurora Spine Corp performance from the past will be repeated at some point in the near future.

Auto-correlation

    
  -0.18  

Insignificant reverse predictability

Aurora Spine Corp has insignificant reverse predictability. Overlapping area represents the amount of predictability between Aurora Spine time series from 7th of June 2022 to 3rd of May 2023 and 3rd of May 2023 to 28th of March 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 Aurora Spine Corp price movement. The serial correlation of -0.18 indicates that over 18.0% of current Aurora Spine price fluctuation can be explain by its past prices.
Correlation Coefficient-0.18
Spearman Rank Test-0.25
Residual Average0.0
Price Variance0.0

Aurora Spine Corp lagged returns against current returns

Autocorrelation, which is Aurora Spine 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 Aurora Spine's stock expected returns. We can calculate the autocorrelation of Aurora Spine returns to help us make a trade decision. For example, suppose you find that Aurora Spine 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  

Aurora Spine 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 Aurora Spine stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aurora Spine stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aurora Spine stock over time.
   Current vs Lagged Prices   
       Timeline  

Aurora Spine Lagged Returns

When evaluating Aurora Spine's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aurora Spine stock have on its future price. Aurora Spine 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, Aurora Spine autocorrelation shows the relationship between Aurora Spine stock current value and its past values and can show if there is a momentum factor associated with investing in Aurora Spine Corp.
   Regressed Prices   
       Timeline  

Pair Trading with Aurora Spine

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 Aurora Spine 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 Aurora Spine will appreciate offsetting losses from the drop in the long position's value.

Moving against Aurora Stock

  0.77SBIO Sabio HoldingsPairCorr
  0.7OGI OrganiGram HoldingsPairCorr
  0.66CRDL Cardiol TherapeuticsPairCorr
  0.66CPH Cipher PharmaceuticalsPairCorr
  0.63AVCN AvicannaIncPairCorr
The ability to find closely correlated positions to Aurora Spine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aurora Spine 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 Aurora Spine - 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 Aurora Spine Corp to buy it.
The correlation of Aurora Spine 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 Aurora Spine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aurora Spine Corp 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 Aurora Spine 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.
Pair CorrelationCorrelation Matching
Check out Aurora Spine Correlation, Aurora Spine Volatility and Aurora Spine Alpha and Beta module to complement your research on Aurora Spine.
You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.

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When running Aurora Spine's price analysis, check to measure Aurora Spine'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 Aurora Spine is operating at the current time. Most of Aurora Spine's value examination focuses on studying past and present price action to predict the probability of Aurora Spine's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Aurora Spine's price. Additionally, you may evaluate how the addition of Aurora Spine to your portfolios can decrease your overall portfolio volatility.
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Aurora Spine 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.
A focus of Aurora Spine technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Aurora Spine trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...