Alkermes Plc Stock Market Value
| ALKS Stock | USD 24.26 0.19 0.79% |
| Symbol | Alkermes |
Is Alkermes Plc's industry 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 Alkermes Plc. If investors know Alkermes 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 Alkermes Plc listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Alkermes Plc is measured differently than its book value, which is the value of Alkermes that is recorded on the company's balance sheet. Investors also form their own opinion of Alkermes Plc's value that differs from its market value or its book value, called intrinsic value, which is Alkermes Plc'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 Alkermes Plc's market value can be influenced by many factors that don't directly affect Alkermes Plc'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 Alkermes Plc's value and its price as these two are different measures arrived at by different means. Investors typically determine if Alkermes Plc is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Alkermes Plc'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.
Alkermes Plc '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 Alkermes Plc'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 Alkermes Plc.
| 01/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Alkermes Plc on January 25, 2024 and sell it all today you would earn a total of 0.00 from holding Alkermes Plc or generate 0.0% return on investment in Alkermes Plc over 90 days. Alkermes Plc is related to or competes with Intracellular, Ironwood Pharmaceuticals, Deciphera Pharmaceuticals, Pacira Pharmaceuticals, ANI Pharmaceuticals, Dr Reddys, and Collegium Pharmaceutical. Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address u... More
Alkermes Plc 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 Alkermes Plc'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 Alkermes Plc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 21.89 | |||
| Value At Risk | (4.24) | |||
| Potential Upside | 2.79 |
Alkermes Plc Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alkermes Plc's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alkermes Plc's standard deviation. In reality, there are many statistical measures that can use Alkermes Plc historical prices to predict the future Alkermes Plc's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.59) | |||
| Treynor Ratio | (0.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alkermes Plc'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.
Alkermes Plc Backtested Returns
Alkermes Plc secures Sharpe Ratio (or Efficiency) of -0.0656, which signifies that the company had a -0.0656% return per unit of risk over the last 3 months. Alkermes Plc exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Alkermes Plc's Mean Deviation of 1.8, standard deviation of 2.89, and Risk Adjusted Performance of (0.03) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.97, which signifies possible diversification benefits within a given portfolio. Alkermes Plc returns are very sensitive to returns on the market. As the market goes up or down, Alkermes Plc is expected to follow. Alkermes Plc has an expected return of -0.19%. Please make sure to confirm Alkermes Plc maximum drawdown, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Alkermes Plc performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.55 |
Good reverse predictability
Alkermes Plc has good reverse predictability. Overlapping area represents the amount of predictability between Alkermes Plc time series from 25th of January 2024 to 10th of March 2024 and 10th of March 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 Alkermes Plc price movement. The serial correlation of -0.55 indicates that about 55.0% of current Alkermes Plc price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.55 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 2.75 |
Alkermes Plc lagged returns against current returns
Autocorrelation, which is Alkermes Plc 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 Alkermes Plc's stock expected returns. We can calculate the autocorrelation of Alkermes Plc returns to help us make a trade decision. For example, suppose you find that Alkermes Plc 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 |
Alkermes Plc 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 Alkermes Plc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alkermes Plc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alkermes Plc stock over time.
Current vs Lagged Prices |
| Timeline |
Alkermes Plc Lagged Returns
When evaluating Alkermes Plc's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alkermes Plc stock have on its future price. Alkermes Plc 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, Alkermes Plc autocorrelation shows the relationship between Alkermes Plc stock current value and its past values and can show if there is a momentum factor associated with investing in Alkermes Plc.
Regressed Prices |
| Timeline |
Pair Trading with Alkermes Plc
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 Alkermes Plc 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 Alkermes Plc will appreciate offsetting losses from the drop in the long position's value.Moving together with Alkermes Stock
| 0.81 | VTRS | Viatris Financial Report 13th of May 2024 | PairCorr |
| 0.83 | EGRX | Eagle Pharmaceuticals | PairCorr |
Moving against Alkermes Stock
| 0.77 | FTLF | FitLife Brands Common | PairCorr |
| 0.72 | ACB | Aurora Cannabis Trending | PairCorr |
| 0.65 | CGC | Canopy Growth Corp Trending | PairCorr |
| 0.62 | FLGC | Flora Growth Corp Financial Report 20th of May 2024 | PairCorr |
| 0.51 | ENDPQ | Endo International plc | PairCorr |
The ability to find closely correlated positions to Alkermes Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alkermes Plc 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 Alkermes Plc - 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 Alkermes Plc to buy it.
The correlation of Alkermes Plc 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 Alkermes Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alkermes 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 Alkermes Plc 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 Alkermes Plc Correlation, Alkermes Plc Volatility and Alkermes Plc Alpha and Beta module to complement your research on Alkermes Plc. For more information on how to buy Alkermes Stock please use our How to Invest in Alkermes Plc guide.You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Complementary Tools for Alkermes Stock analysis
When running Alkermes Plc's price analysis, check to measure Alkermes Plc'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 Alkermes Plc is operating at the current time. Most of Alkermes Plc's value examination focuses on studying past and present price action to predict the probability of Alkermes Plc's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Alkermes Plc's price. Additionally, you may evaluate how the addition of Alkermes Plc to your portfolios can decrease your overall portfolio volatility.
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Alkermes Plc 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.