Cellectar Biosciences Stock Market Value
| CLRB Stock | USD 3.03 0.18 5.61% |
| Symbol | Cellectar |
Cellectar Biosciences Price To Book Ratio
Is Cellectar Biosciences' 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 Cellectar Biosciences. If investors know Cellectar 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 Cellectar Biosciences listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.11) | Return On Assets (1.45) | Return On Equity (5.37) |
The market value of Cellectar Biosciences is measured differently than its book value, which is the value of Cellectar that is recorded on the company's balance sheet. Investors also form their own opinion of Cellectar Biosciences' value that differs from its market value or its book value, called intrinsic value, which is Cellectar Biosciences' 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 Cellectar Biosciences' market value can be influenced by many factors that don't directly affect Cellectar Biosciences' 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 Cellectar Biosciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if Cellectar Biosciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cellectar Biosciences' 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.
Cellectar Biosciences '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 Cellectar Biosciences' 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 Cellectar Biosciences.
| 03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in Cellectar Biosciences on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding Cellectar Biosciences or generate 0.0% return on investment in Cellectar Biosciences over 30 days. Cellectar Biosciences is related to or competes with Pmv PharmaceuticalsI, MediciNova, Pharvaris, PepGen, Anebulo Pharmaceuticals, Rezolute, and HCW Biologics. Cellectar Biosciences, Inc., a clinical biopharmaceutical company, focuses on the discovery, development, and commercial... More
Cellectar Biosciences 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 Cellectar Biosciences' 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 Cellectar Biosciences upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 21.31 | |||
| Value At Risk | (6.53) | |||
| Potential Upside | 9.34 |
Cellectar Biosciences Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cellectar Biosciences' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cellectar Biosciences' standard deviation. In reality, there are many statistical measures that can use Cellectar Biosciences historical prices to predict the future Cellectar Biosciences' volatility.| Risk Adjusted Performance | 0.0059 | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (0.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cellectar Biosciences' 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.
Cellectar Biosciences Backtested Returns
Cellectar Biosciences secures Sharpe Ratio (or Efficiency) of -0.0039, which signifies that the company had a -0.0039% return per unit of risk over the last 3 months. Cellectar Biosciences exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cellectar Biosciences' Risk Adjusted Performance of 0.0059, standard deviation of 4.84, and Mean Deviation of 3.73 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 3.05, 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, Cellectar Biosciences will likely underperform. Cellectar Biosciences has an expected return of -0.0184%. Please make sure to confirm Cellectar Biosciences treynor ratio, accumulation distribution, price action indicator, as well as the relationship between the potential upside and day median price , to decide if Cellectar Biosciences performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.46 |
Modest reverse predictability
Cellectar Biosciences has modest reverse predictability. Overlapping area represents the amount of predictability between Cellectar Biosciences time series from 19th of March 2024 to 3rd of April 2024 and 3rd of April 2024 to 18th 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 Cellectar Biosciences price movement. The serial correlation of -0.46 indicates that about 46.0% of current Cellectar Biosciences price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Cellectar Biosciences lagged returns against current returns
Autocorrelation, which is Cellectar Biosciences 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 Cellectar Biosciences' stock expected returns. We can calculate the autocorrelation of Cellectar Biosciences returns to help us make a trade decision. For example, suppose you find that Cellectar Biosciences 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 |
Cellectar Biosciences 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 Cellectar Biosciences stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cellectar Biosciences stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cellectar Biosciences stock over time.
Current vs Lagged Prices |
| Timeline |
Cellectar Biosciences Lagged Returns
When evaluating Cellectar Biosciences' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cellectar Biosciences stock have on its future price. Cellectar Biosciences 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, Cellectar Biosciences autocorrelation shows the relationship between Cellectar Biosciences stock current value and its past values and can show if there is a momentum factor associated with investing in Cellectar Biosciences.
Regressed Prices |
| Timeline |
Pair Trading with Cellectar Biosciences
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 Cellectar Biosciences 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 Cellectar Biosciences will appreciate offsetting losses from the drop in the long position's value.Moving together with Cellectar Stock
| 0.63 | KZR | Kezar Life Sciences Financial Report 9th of May 2024 | PairCorr |
The ability to find closely correlated positions to Cellectar Biosciences could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cellectar Biosciences 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 Cellectar Biosciences - 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 Cellectar Biosciences to buy it.
The correlation of Cellectar Biosciences 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 Cellectar Biosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cellectar Biosciences 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 Cellectar Biosciences 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 Cellectar Biosciences Correlation, Cellectar Biosciences Volatility and Cellectar Biosciences Alpha and Beta module to complement your research on Cellectar Biosciences. For information on how to trade Cellectar Stock refer to our How to Trade Cellectar Stock guide.You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Cellectar Stock analysis
When running Cellectar Biosciences' price analysis, check to measure Cellectar Biosciences' 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 Cellectar Biosciences is operating at the current time. Most of Cellectar Biosciences' value examination focuses on studying past and present price action to predict the probability of Cellectar Biosciences' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cellectar Biosciences' price. Additionally, you may evaluate how the addition of Cellectar Biosciences to your portfolios can decrease your overall portfolio volatility.
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Cellectar Biosciences 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.