Brainsway (Israel) Market Value
| BRIN Stock | 960.00 5.10 0.53% |
| Symbol | Brainsway |
Brainsway '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 Brainsway'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 Brainsway.
| 02/28/2023 |
| 04/23/2024 |
If you would invest 0.00 in Brainsway on February 28, 2023 and sell it all today you would earn a total of 0.00 from holding Brainsway or generate 0.0% return on investment in Brainsway over 420 days. Brainsway is related to or competes with Compugen. Brainsway Ltd. engages in the development and provision of technology solutions for non-invasive treatment of brain diso... More
Brainsway 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 Brainsway'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 Brainsway upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 21.51 | |||
| Value At Risk | (7.11) | |||
| Potential Upside | 5.69 |
Brainsway Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Brainsway's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Brainsway's standard deviation. In reality, there are many statistical measures that can use Brainsway historical prices to predict the future Brainsway's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.29) | |||
| Total Risk Alpha | (0.83) | |||
| Treynor Ratio | 0.4478 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Brainsway'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.
Brainsway Backtested Returns
Brainsway secures Sharpe Ratio (or Efficiency) of -0.0712, which signifies that the company had a -0.0712% return per unit of standard deviation over the last 3 months. Brainsway exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Brainsway's mean deviation of 2.96, and Risk Adjusted Performance of (0.04) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.78, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Brainsway are expected to decrease at a much lower rate. During the bear market, Brainsway is likely to outperform the market. Brainsway has an expected return of -0.25%. Please make sure to confirm Brainsway coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Brainsway performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.31 |
Below average predictability
Brainsway has below average predictability. Overlapping area represents the amount of predictability between Brainsway time series from 28th of February 2023 to 26th of September 2023 and 26th of September 2023 to 23rd 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 Brainsway price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Brainsway price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 34.6 K |
Brainsway lagged returns against current returns
Autocorrelation, which is Brainsway 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 Brainsway's stock expected returns. We can calculate the autocorrelation of Brainsway returns to help us make a trade decision. For example, suppose you find that Brainsway 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 |
Brainsway 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 Brainsway stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Brainsway stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Brainsway stock over time.
Current vs Lagged Prices |
| Timeline |
Brainsway Lagged Returns
When evaluating Brainsway's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Brainsway stock have on its future price. Brainsway 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, Brainsway autocorrelation shows the relationship between Brainsway stock current value and its past values and can show if there is a momentum factor associated with investing in Brainsway.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Brainsway in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Brainsway's short interest history, or implied volatility extrapolated from Brainsway options trading.
Pair Trading with Brainsway
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 Brainsway 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 Brainsway will appreciate offsetting losses from the drop in the long position's value.Moving together with Brainsway Stock
| 0.73 | BOLT | BioLight Life Sciences | PairCorr |
Moving against Brainsway Stock
| 0.75 | PSTI | Pluristem | PairCorr |
| 0.73 | PRTC | Priortech | PairCorr |
| 0.52 | GPGB | GP Global Power | PairCorr |
| 0.41 | APLP | Apollo Power | PairCorr |
The ability to find closely correlated positions to Brainsway could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Brainsway 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 Brainsway - 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 Brainsway to buy it.
The correlation of Brainsway 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 Brainsway moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Brainsway 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 Brainsway 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 Brainsway Correlation, Brainsway Volatility and Brainsway Alpha and Beta module to complement your research on Brainsway. For information on how to trade Brainsway Stock refer to our How to Trade Brainsway Stock guide.You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Complementary Tools for Brainsway Stock analysis
When running Brainsway's price analysis, check to measure Brainsway'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 Brainsway is operating at the current time. Most of Brainsway's value examination focuses on studying past and present price action to predict the probability of Brainsway's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Brainsway's price. Additionally, you may evaluate how the addition of Brainsway to your portfolios can decrease your overall portfolio volatility.
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Brainsway 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.