Biolase Stock Market Value
| BIOL Stock | USD 0.15 0.01 7.14% |
| Symbol | BIOLASE |
BIOLASE Price To Book Ratio
Is BIOLASE'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 BIOLASE. If investors know BIOLASE 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 BIOLASE listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (29.44) | Revenue Per Share 38.469 | Quarterly Revenue Growth (0.04) | Return On Assets (0.29) | Return On Equity (6.03) |
The market value of BIOLASE is measured differently than its book value, which is the value of BIOLASE that is recorded on the company's balance sheet. Investors also form their own opinion of BIOLASE's value that differs from its market value or its book value, called intrinsic value, which is BIOLASE'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 BIOLASE's market value can be influenced by many factors that don't directly affect BIOLASE'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 BIOLASE's value and its price as these two are different measures arrived at by different means. Investors typically determine if BIOLASE is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, BIOLASE'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.
BIOLASE '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 BIOLASE'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 BIOLASE.
| 02/23/2024 |
| 04/23/2024 |
If you would invest 0.00 in BIOLASE on February 23, 2024 and sell it all today you would earn a total of 0.00 from holding BIOLASE or generate 0.0% return on investment in BIOLASE over 60 days. BIOLASE is related to or competes with HealthStream, National Research, HealthEquity, Health Catalyst, and Definitive Healthcare. BIOLASE, Inc., together with its subsidiaries, develops, manufactures, markets, and sells laser systems for dental pract... More
BIOLASE 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 BIOLASE'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 BIOLASE upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 81.27 | |||
| Value At Risk | (13.59) | |||
| Potential Upside | 14.29 |
BIOLASE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BIOLASE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BIOLASE's standard deviation. In reality, there are many statistical measures that can use BIOLASE historical prices to predict the future BIOLASE's volatility.| Risk Adjusted Performance | (0.1) | |||
| Jensen Alpha | (2.37) | |||
| Total Risk Alpha | (3.48) | |||
| 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 BIOLASE'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.
BIOLASE Backtested Returns
BIOLASE secures Sharpe Ratio (or Efficiency) of -0.16, which signifies that the company had a -0.16% return per unit of risk over the last 3 months. BIOLASE exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BIOLASE's mean deviation of 6.94, and Risk Adjusted Performance of (0.1) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 4.41, which signifies 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, BIOLASE will likely underperform. BIOLASE has an expected return of -1.87%. Please make sure to confirm BIOLASE potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if BIOLASE performance from the past will be repeated in the future.
Auto-correlation | 0.07 |
Virtually no predictability
BIOLASE has virtually no predictability. Overlapping area represents the amount of predictability between BIOLASE time series from 23rd of February 2024 to 24th of March 2024 and 24th of March 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 BIOLASE price movement. The serial correlation of 0.07 indicates that barely 7.0% of current BIOLASE price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.07 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
BIOLASE lagged returns against current returns
Autocorrelation, which is BIOLASE 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 BIOLASE's stock expected returns. We can calculate the autocorrelation of BIOLASE returns to help us make a trade decision. For example, suppose you find that BIOLASE 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 |
BIOLASE 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 BIOLASE stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BIOLASE stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BIOLASE stock over time.
Current vs Lagged Prices |
| Timeline |
BIOLASE Lagged Returns
When evaluating BIOLASE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BIOLASE stock have on its future price. BIOLASE 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, BIOLASE autocorrelation shows the relationship between BIOLASE stock current value and its past values and can show if there is a momentum factor associated with investing in BIOLASE.
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 BIOLASE 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, BIOLASE's short interest history, or implied volatility extrapolated from BIOLASE options trading.
Pair Trading with BIOLASE
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 BIOLASE 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 BIOLASE will appreciate offsetting losses from the drop in the long position's value.Moving together with BIOLASE Stock
| 0.71 | GH | Guardant Health Financial Report 14th of May 2024 | PairCorr |
Moving against BIOLASE Stock
| 0.85 | HQY | HealthEquity Financial Report 3rd of June 2024 | PairCorr |
| 0.74 | AGTI | Agiliti Sell-off Trend | PairCorr |
| 0.72 | RCM | R1 RCM Inc Financial Report 2nd of May 2024 | PairCorr |
| 0.7 | DHR | Danaher Earnings Call Today | PairCorr |
| 0.62 | CERT | Certara Financial Report 13th of May 2024 | PairCorr |
The ability to find closely correlated positions to BIOLASE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BIOLASE 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 BIOLASE - 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 BIOLASE to buy it.
The correlation of BIOLASE 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 BIOLASE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BIOLASE 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 BIOLASE 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 BIOLASE Correlation, BIOLASE Volatility and BIOLASE Alpha and Beta module to complement your research on BIOLASE. For more information on how to buy BIOLASE Stock please use our How to buy in BIOLASE Stock guide.You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Complementary Tools for BIOLASE Stock analysis
When running BIOLASE's price analysis, check to measure BIOLASE'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 BIOLASE is operating at the current time. Most of BIOLASE's value examination focuses on studying past and present price action to predict the probability of BIOLASE's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move BIOLASE's price. Additionally, you may evaluate how the addition of BIOLASE to your portfolios can decrease your overall portfolio volatility.
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| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
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BIOLASE 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.