Photocure (Norway) Market Value
| PHO Stock | NOK 54.40 0.50 0.93% |
| Symbol | Photocure |
Photocure '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 Photocure'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 Photocure.
| 10/27/2023 |
| 04/24/2024 |
If you would invest 0.00 in Photocure on October 27, 2023 and sell it all today you would earn a total of 0.00 from holding Photocure or generate 0.0% return on investment in Photocure over 180 days. Photocure is related to or competes with Hyon AS, Ensurge Micropower, RomReal, Havila Shipping, EverfuelAS, Next Biometrics, and Zaptec AS. Photocure ASA, a specialty pharmaceutical company, engages in the research, development, production, distribution, marke... More
Photocure 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 Photocure'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 Photocure upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 12.38 | |||
| Value At Risk | (3.47) | |||
| Potential Upside | 3.13 |
Photocure Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Photocure's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Photocure's standard deviation. In reality, there are many statistical measures that can use Photocure historical prices to predict the future Photocure's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (0.66) | |||
| Treynor Ratio | (2.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Photocure'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.
Photocure Backtested Returns
Photocure maintains Sharpe Ratio (i.e., Efficiency) of -0.11, which implies the firm had a -0.11% return per unit of risk over the last 3 months. Photocure exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Photocure's Variance of 5.95, risk adjusted performance of (0.07), and Coefficient Of Variation of (780.02) to confirm the risk estimate we provide. The company holds a Beta of 0.16, which implies not very significant fluctuations relative to the market. As returns on the market increase, Photocure's returns are expected to increase less than the market. However, during the bear market, the loss of holding Photocure is expected to be smaller as well. Photocure has an expected return of -0.27%. Please make sure to check Photocure accumulation distribution, and the relationship between the potential upside and day median price , to decide if Photocure performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.28 |
Weak reverse predictability
Photocure has weak reverse predictability. Overlapping area represents the amount of predictability between Photocure time series from 27th of October 2023 to 25th of January 2024 and 25th of January 2024 to 24th of April 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 Photocure price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Photocure price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 14.09 |
Photocure lagged returns against current returns
Autocorrelation, which is Photocure 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 Photocure's stock expected returns. We can calculate the autocorrelation of Photocure returns to help us make a trade decision. For example, suppose you find that Photocure 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 |
Photocure 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 Photocure stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Photocure stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Photocure stock over time.
Current vs Lagged Prices |
| Timeline |
Photocure Lagged Returns
When evaluating Photocure's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Photocure stock have on its future price. Photocure 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, Photocure autocorrelation shows the relationship between Photocure stock current value and its past values and can show if there is a momentum factor associated with investing in Photocure.
Regressed Prices |
| Timeline |
Becoming a Better Investor with Macroaxis
Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as Photocure using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.Build Optimal Portfolios
Align your risk with return expectations
Check out Photocure Correlation, Photocure Volatility and Photocure Alpha and Beta module to complement your research on Photocure. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Complementary Tools for Photocure Stock analysis
When running Photocure's price analysis, check to measure Photocure'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 Photocure is operating at the current time. Most of Photocure's value examination focuses on studying past and present price action to predict the probability of Photocure's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Photocure's price. Additionally, you may evaluate how the addition of Photocure to your portfolios can decrease your overall portfolio volatility.
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Photocure 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.