Purple Innovation Stock Market Value
| PRPL Stock | USD 1.53 0.07 4.38% |
| Symbol | Purple |
Purple Innovation Price To Book Ratio
Is Purple Innovation'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 Purple Innovation. If investors know Purple 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 Purple Innovation listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.60) | Earnings Share (1.17) | Revenue Per Share 4.928 | Quarterly Revenue Growth 0.011 | Return On Assets (0.16) |
The market value of Purple Innovation is measured differently than its book value, which is the value of Purple that is recorded on the company's balance sheet. Investors also form their own opinion of Purple Innovation's value that differs from its market value or its book value, called intrinsic value, which is Purple Innovation'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 Purple Innovation's market value can be influenced by many factors that don't directly affect Purple Innovation'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 Purple Innovation's value and its price as these two are different measures arrived at by different means. Investors typically determine if Purple Innovation is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Purple Innovation'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.
Purple Innovation '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 Purple Innovation'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 Purple Innovation.
| 02/24/2024 |
| 04/24/2024 |
If you would invest 0.00 in Purple Innovation on February 24, 2024 and sell it all today you would earn a total of 0.00 from holding Purple Innovation or generate 0.0% return on investment in Purple Innovation over 60 days. Purple Innovation is related to or competes with Tempur Sealy, La Z, MasterBrand, Ethan Allen, Hamilton Beach, Lifetime Brands, and Sleep Number. Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions More
Purple Innovation 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 Purple Innovation'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 Purple Innovation upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.05 | |||
| Information Ratio | 0.181 | |||
| Maximum Drawdown | 44.24 | |||
| Value At Risk | (7.74) | |||
| Potential Upside | 13.64 |
Purple Innovation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purple Innovation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purple Innovation's standard deviation. In reality, there are many statistical measures that can use Purple Innovation historical prices to predict the future Purple Innovation's volatility.| Risk Adjusted Performance | 0.1302 | |||
| Jensen Alpha | 1.07 | |||
| Total Risk Alpha | 0.4052 | |||
| Sortino Ratio | 0.2166 | |||
| Treynor Ratio | 0.3615 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Purple Innovation'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.
Purple Innovation Backtested Returns
Purple Innovation appears to be dangerous, given 3 months investment horizon. Purple Innovation maintains Sharpe Ratio (i.e., Efficiency) of 0.15, which implies the firm had a 0.15% return per unit of risk over the last 3 months. By analyzing Purple Innovation's technical indicators, you can evaluate if the expected return of 0.95% is justified by implied risk. Please evaluate Purple Innovation's Risk Adjusted Performance of 0.1302, coefficient of variation of 515.04, and Semi Deviation of 5.21 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Purple Innovation holds a performance score of 11. The company holds a Beta of 3.86, which implies 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, Purple Innovation will likely underperform. Please check Purple Innovation's potential upside, as well as the relationship between the kurtosis and day typical price , to make a quick decision on whether Purple Innovation's historical price patterns will revert.
Auto-correlation | 0.82 |
Very good predictability
Purple Innovation has very good predictability. Overlapping area represents the amount of predictability between Purple Innovation time series from 24th of February 2024 to 25th of March 2024 and 25th 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 Purple Innovation price movement. The serial correlation of 0.82 indicates that around 82.0% of current Purple Innovation price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.73 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Purple Innovation lagged returns against current returns
Autocorrelation, which is Purple Innovation 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 Purple Innovation's stock expected returns. We can calculate the autocorrelation of Purple Innovation returns to help us make a trade decision. For example, suppose you find that Purple Innovation 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 |
Purple Innovation 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 Purple Innovation stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purple Innovation stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purple Innovation stock over time.
Current vs Lagged Prices |
| Timeline |
Purple Innovation Lagged Returns
When evaluating Purple Innovation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purple Innovation stock have on its future price. Purple Innovation 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, Purple Innovation autocorrelation shows the relationship between Purple Innovation stock current value and its past values and can show if there is a momentum factor associated with investing in Purple Innovation.
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 Purple Innovation 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, Purple Innovation's short interest history, or implied volatility extrapolated from Purple Innovation options trading.
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Check out Purple Innovation Correlation, Purple Innovation Volatility and Purple Innovation Alpha and Beta module to complement your research on Purple Innovation. For more information on how to buy Purple Stock please use our How to buy in Purple Stock guide.You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Complementary Tools for Purple Stock analysis
When running Purple Innovation's price analysis, check to measure Purple Innovation'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 Purple Innovation is operating at the current time. Most of Purple Innovation's value examination focuses on studying past and present price action to predict the probability of Purple Innovation's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Purple Innovation's price. Additionally, you may evaluate how the addition of Purple Innovation to your portfolios can decrease your overall portfolio volatility.
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Purple Innovation 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.