Adverum Biotechnologies Stock Market Value
| ADVM Stock | USD 10.19 0.81 7.36% |
| Symbol | Adverum |
Adverum Biotechnologies Price To Book Ratio
Is Adverum Biotechnologies' 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 Adverum Biotechnologies. If investors know Adverum 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 Adverum Biotechnologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (11.60) | Revenue Per Share 0.357 | Quarterly Revenue Growth (0.70) | Return On Assets (0.32) | Return On Equity (0.88) |
The market value of Adverum Biotechnologies is measured differently than its book value, which is the value of Adverum that is recorded on the company's balance sheet. Investors also form their own opinion of Adverum Biotechnologies' value that differs from its market value or its book value, called intrinsic value, which is Adverum Biotechnologies' 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 Adverum Biotechnologies' market value can be influenced by many factors that don't directly affect Adverum Biotechnologies' 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 Adverum Biotechnologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Adverum Biotechnologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Adverum Biotechnologies' 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.
Adverum Biotechnologies '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 Adverum Biotechnologies' 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 Adverum Biotechnologies.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Adverum Biotechnologies on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Adverum Biotechnologies or generate 0.0% return on investment in Adverum Biotechnologies over 30 days. Adverum Biotechnologies is related to or competes with Uniqure NV, Rocket Pharmaceuticals, Rhythm Pharmaceuticals, Solid Biosciences, MeiraGTx Holdings, Aerovate Therapeutics, and Adagene. Adverum Biotechnologies, Inc., a clinical-stage gene therapy company, develops gene therapy product candidates to treat ... More
Adverum Biotechnologies 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 Adverum Biotechnologies' 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 Adverum Biotechnologies upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.36 | |||
| Information Ratio | 0.0757 | |||
| Maximum Drawdown | 64.4 | |||
| Value At Risk | (7.88) | |||
| Potential Upside | 15.08 |
Adverum Biotechnologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Adverum Biotechnologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Adverum Biotechnologies' standard deviation. In reality, there are many statistical measures that can use Adverum Biotechnologies historical prices to predict the future Adverum Biotechnologies' volatility.| Risk Adjusted Performance | 0.0632 | |||
| Jensen Alpha | 0.7807 | |||
| Total Risk Alpha | (0.46) | |||
| Sortino Ratio | 0.1068 | |||
| Treynor Ratio | (3.96) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Adverum Biotechnologies' 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.
Adverum Biotechnologies Backtested Returns
Adverum Biotechnologies appears to be risky, given 3 months investment horizon. Adverum Biotechnologies secures Sharpe Ratio (or Efficiency) of 0.0577, which signifies that the company had a 0.0577% return per unit of risk over the last 3 months. By analyzing Adverum Biotechnologies' technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please makes use of Adverum Biotechnologies' Risk Adjusted Performance of 0.0632, downside deviation of 6.36, and Mean Deviation of 5.59 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Adverum Biotechnologies holds a performance score of 4. The firm shows a Beta (market volatility) of -0.19, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Adverum Biotechnologies are expected to decrease at a much lower rate. During the bear market, Adverum Biotechnologies is likely to outperform the market. Please check Adverum Biotechnologies' value at risk, as well as the relationship between the skewness and day median price , to make a quick decision on whether Adverum Biotechnologies' price patterns will revert.
Auto-correlation | 0.86 |
Very good predictability
Adverum Biotechnologies has very good predictability. Overlapping area represents the amount of predictability between Adverum Biotechnologies time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 Adverum Biotechnologies price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current Adverum Biotechnologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.95 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Adverum Biotechnologies lagged returns against current returns
Autocorrelation, which is Adverum Biotechnologies 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 Adverum Biotechnologies' stock expected returns. We can calculate the autocorrelation of Adverum Biotechnologies returns to help us make a trade decision. For example, suppose you find that Adverum Biotechnologies 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 |
Adverum Biotechnologies 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 Adverum Biotechnologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Adverum Biotechnologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Adverum Biotechnologies stock over time.
Current vs Lagged Prices |
| Timeline |
Adverum Biotechnologies Lagged Returns
When evaluating Adverum Biotechnologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Adverum Biotechnologies stock have on its future price. Adverum Biotechnologies 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, Adverum Biotechnologies autocorrelation shows the relationship between Adverum Biotechnologies stock current value and its past values and can show if there is a momentum factor associated with investing in Adverum Biotechnologies.
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 Adverum Biotechnologies 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, Adverum Biotechnologies' short interest history, or implied volatility extrapolated from Adverum Biotechnologies options trading.
Pair Trading with Adverum Biotechnologies
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 Adverum Biotechnologies 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 Adverum Biotechnologies will appreciate offsetting losses from the drop in the long position's value.Moving against Adverum Stock
| 0.55 | CGC | Canopy Growth Corp Trending | PairCorr |
| 0.54 | ACB | Aurora Cannabis Trending | PairCorr |
| 0.44 | ELYM | Eliem Therapeutics | PairCorr |
The ability to find closely correlated positions to Adverum Biotechnologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Adverum Biotechnologies 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 Adverum Biotechnologies - 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 Adverum Biotechnologies to buy it.
The correlation of Adverum Biotechnologies 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 Adverum Biotechnologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Adverum Biotechnologies 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 Adverum Biotechnologies 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 Adverum Biotechnologies Correlation, Adverum Biotechnologies Volatility and Adverum Biotechnologies Alpha and Beta module to complement your research on Adverum Biotechnologies. To learn how to invest in Adverum Stock, please use our How to Invest in Adverum Biotechnologies guide.You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Complementary Tools for Adverum Stock analysis
When running Adverum Biotechnologies' price analysis, check to measure Adverum Biotechnologies' 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 Adverum Biotechnologies is operating at the current time. Most of Adverum Biotechnologies' value examination focuses on studying past and present price action to predict the probability of Adverum Biotechnologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Adverum Biotechnologies' price. Additionally, you may evaluate how the addition of Adverum Biotechnologies to your portfolios can decrease your overall portfolio volatility.
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Adverum Biotechnologies 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.