Dermtech Stock Market Value
| DMTK Stock | USD 0.60 0.04 6.25% |
| Symbol | DermTech |
DermTech Price To Book Ratio
Is DermTech'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 DermTech. If investors know DermTech 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 DermTech listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.09) | Revenue Per Share 0.469 | Quarterly Revenue Growth 0.311 | Return On Assets (0.38) | Return On Equity (1.06) |
The market value of DermTech is measured differently than its book value, which is the value of DermTech that is recorded on the company's balance sheet. Investors also form their own opinion of DermTech's value that differs from its market value or its book value, called intrinsic value, which is DermTech'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 DermTech's market value can be influenced by many factors that don't directly affect DermTech'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 DermTech's value and its price as these two are different measures arrived at by different means. Investors typically determine if DermTech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, DermTech'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.
DermTech '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 DermTech'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 DermTech.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in DermTech on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding DermTech or generate 0.0% return on investment in DermTech over 30 days. DermTech is related to or competes with TransMedics, Curiositystream, Fulgent Genetics, Outset MedicalInc, and Clearpoint Neuro. DermTech, Inc., a molecular diagnostic company, develops and markets novel non-invasive genomics tests to diagnosis skin... More
DermTech 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 DermTech'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 DermTech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 37.72 | |||
| Value At Risk | (6.06) | |||
| Potential Upside | 4.84 |
DermTech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DermTech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DermTech's standard deviation. In reality, there are many statistical measures that can use DermTech historical prices to predict the future DermTech's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.96) | |||
| Total Risk Alpha | (1.50) | |||
| Treynor Ratio | (0.46) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of DermTech'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.
DermTech Backtested Returns
DermTech secures Sharpe Ratio (or Efficiency) of -0.18, which denotes the company had a -0.18% return per unit of risk over the last 3 months. DermTech exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm DermTech's Standard Deviation of 5.5, variance of 30.3, and Mean Deviation of 3.72 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.81, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, DermTech will likely underperform. DermTech has an expected return of -1.01%. Please make sure to confirm DermTech jensen alpha, skewness, as well as the relationship between the Skewness and day median price , to decide if DermTech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.42 |
Average predictability
DermTech has average predictability. Overlapping area represents the amount of predictability between DermTech time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 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 DermTech price movement. The serial correlation of 0.42 indicates that just about 42.0% of current DermTech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.42 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
DermTech lagged returns against current returns
Autocorrelation, which is DermTech 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 DermTech's stock expected returns. We can calculate the autocorrelation of DermTech returns to help us make a trade decision. For example, suppose you find that DermTech 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 |
DermTech 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 DermTech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DermTech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DermTech stock over time.
Current vs Lagged Prices |
| Timeline |
DermTech Lagged Returns
When evaluating DermTech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DermTech stock have on its future price. DermTech 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, DermTech autocorrelation shows the relationship between DermTech stock current value and its past values and can show if there is a momentum factor associated with investing in DermTech.
Regressed Prices |
| Timeline |
Pair Trading with DermTech
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 DermTech 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 DermTech will appreciate offsetting losses from the drop in the long position's value.Moving against DermTech Stock
| 0.9 | ANIP | ANI Pharmaceuticals Financial Report 13th of May 2024 | PairCorr |
| 0.82 | AVTE | Aerovate Therapeutics Financial Report 20th of May 2024 | PairCorr |
| 0.77 | SUPN | Supernus Pharmaceuticals Financial Report 14th of May 2024 | PairCorr |
| 0.74 | OPT | Opthea | PairCorr |
| 0.66 | PAHC | Phibro Animal Health Financial Report 1st of May 2024 | PairCorr |
The ability to find closely correlated positions to DermTech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DermTech 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 DermTech - 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 DermTech to buy it.
The correlation of DermTech 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 DermTech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DermTech 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 DermTech 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 DermTech Correlation, DermTech Volatility and DermTech Alpha and Beta module to complement your research on DermTech. For more information on how to buy DermTech Stock please use our How to buy in DermTech Stock guide.You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Complementary Tools for DermTech Stock analysis
When running DermTech's price analysis, check to measure DermTech'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 DermTech is operating at the current time. Most of DermTech's value examination focuses on studying past and present price action to predict the probability of DermTech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move DermTech's price. Additionally, you may evaluate how the addition of DermTech to your portfolios can decrease your overall portfolio volatility.
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| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
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| Transaction History View history of all your transactions and understand their impact on performance |
DermTech 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.