Eupraxia Pharmaceuticals Stock Market Value
| EPRXF Stock | USD 2.94 0.16 5.76% |
| Symbol | Eupraxia |
Eupraxia Pharmaceuticals '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 Eupraxia Pharmaceuticals' pink sheet 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 Eupraxia Pharmaceuticals.
| 04/06/2024 |
| 05/06/2024 |
If you would invest 0.00 in Eupraxia Pharmaceuticals on April 6, 2024 and sell it all today you would earn a total of 0.00 from holding Eupraxia Pharmaceuticals or generate 0.0% return on investment in Eupraxia Pharmaceuticals over 30 days. Eupraxia Pharmaceuticals is related to or competes with Edgewise Therapeutics, Keros TherapeuticsInc, Monte Rosa, Mineralys Therapeutics, Erasca, Travere Therapeutics, and Ikena Oncology. Eupraxia Pharmaceuticals Inc., a clinical stage biotechnology company, engages in the discovery, development, and market... More
Eupraxia Pharmaceuticals 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 Eupraxia Pharmaceuticals' pink sheet 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 Eupraxia Pharmaceuticals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 58.11 | |||
| Value At Risk | (6.17) | |||
| Potential Upside | 6.77 |
Eupraxia Pharmaceuticals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eupraxia Pharmaceuticals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eupraxia Pharmaceuticals' standard deviation. In reality, there are many statistical measures that can use Eupraxia Pharmaceuticals historical prices to predict the future Eupraxia Pharmaceuticals' volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.88) | |||
| Treynor Ratio | 0.7507 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Eupraxia Pharmaceuticals' 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.
Eupraxia Pharmaceuticals Backtested Returns
Eupraxia Pharmaceuticals secures Sharpe Ratio (or Efficiency) of -0.0609, which denotes the company had a -0.0609% return per unit of risk over the last 3 months. Eupraxia Pharmaceuticals exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eupraxia Pharmaceuticals' Variance of 43.67, standard deviation of 6.61, and Mean Deviation of 3.15 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.2, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Eupraxia Pharmaceuticals are expected to decrease at a much lower rate. During the bear market, Eupraxia Pharmaceuticals is likely to outperform the market. Eupraxia Pharmaceuticals has an expected return of -0.38%. Please make sure to confirm Eupraxia Pharmaceuticals skewness, as well as the relationship between the day median price and relative strength index , to decide if Eupraxia Pharmaceuticals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.66 |
Good predictability
Eupraxia Pharmaceuticals has good predictability. Overlapping area represents the amount of predictability between Eupraxia Pharmaceuticals time series from 6th of April 2024 to 21st of April 2024 and 21st of April 2024 to 6th of May 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 Eupraxia Pharmaceuticals price movement. The serial correlation of 0.66 indicates that around 66.0% of current Eupraxia Pharmaceuticals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Eupraxia Pharmaceuticals lagged returns against current returns
Autocorrelation, which is Eupraxia Pharmaceuticals pink sheet'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 Eupraxia Pharmaceuticals' pink sheet expected returns. We can calculate the autocorrelation of Eupraxia Pharmaceuticals returns to help us make a trade decision. For example, suppose you find that Eupraxia Pharmaceuticals has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Eupraxia Pharmaceuticals 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 Eupraxia Pharmaceuticals pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eupraxia Pharmaceuticals pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eupraxia Pharmaceuticals pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Eupraxia Pharmaceuticals Lagged Returns
When evaluating Eupraxia Pharmaceuticals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eupraxia Pharmaceuticals pink sheet have on its future price. Eupraxia Pharmaceuticals 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, Eupraxia Pharmaceuticals autocorrelation shows the relationship between Eupraxia Pharmaceuticals pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Eupraxia Pharmaceuticals.
Regressed Prices |
| Timeline |
Pair Trading with Eupraxia Pharmaceuticals
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 Eupraxia Pharmaceuticals 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 Eupraxia Pharmaceuticals will appreciate offsetting losses from the drop in the long position's value.Moving together with Eupraxia Pink Sheet
| 0.75 | VRTX | Vertex Pharmaceuticals | PairCorr |
Moving against Eupraxia Pink Sheet
| 0.9 | AWCMY | Alumina Limited PK | PairCorr |
| 0.88 | AWCMF | Alumina Limited | PairCorr |
| 0.78 | MRNA | Moderna | PairCorr |
| 0.62 | QSAM | Qsam Biosciences | PairCorr |
| 0.55 | BKLRF | Berkeley Energy | PairCorr |
The ability to find closely correlated positions to Eupraxia Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eupraxia Pharmaceuticals 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 Eupraxia Pharmaceuticals - 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 Eupraxia Pharmaceuticals to buy it.
The correlation of Eupraxia Pharmaceuticals 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 Eupraxia Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eupraxia Pharmaceuticals 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 Eupraxia Pharmaceuticals 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 Eupraxia Pharmaceuticals Correlation, Eupraxia Pharmaceuticals Volatility and Eupraxia Pharmaceuticals Alpha and Beta module to complement your research on Eupraxia Pharmaceuticals. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Complementary Tools for Eupraxia Pink Sheet analysis
When running Eupraxia Pharmaceuticals' price analysis, check to measure Eupraxia Pharmaceuticals' 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 Eupraxia Pharmaceuticals is operating at the current time. Most of Eupraxia Pharmaceuticals' value examination focuses on studying past and present price action to predict the probability of Eupraxia Pharmaceuticals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eupraxia Pharmaceuticals' price. Additionally, you may evaluate how the addition of Eupraxia Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.
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Eupraxia Pharmaceuticals technical pink sheet 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, pink sheet market cycles, or different charting patterns.