Myriad Genetics Stock Market Value
| MYGN Stock | USD 18.63 0.03 0.16% |
| Symbol | Myriad |
Myriad Genetics Price To Book Ratio
Is Myriad Genetics' 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 Myriad Genetics. If investors know Myriad 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 Myriad Genetics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.18) | Revenue Per Share 9.097 | Quarterly Revenue Growth 0.106 | Return On Assets (0.07) | Return On Equity (0.32) |
The market value of Myriad Genetics is measured differently than its book value, which is the value of Myriad that is recorded on the company's balance sheet. Investors also form their own opinion of Myriad Genetics' value that differs from its market value or its book value, called intrinsic value, which is Myriad Genetics' 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 Myriad Genetics' market value can be influenced by many factors that don't directly affect Myriad Genetics' 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 Myriad Genetics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Myriad Genetics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Myriad Genetics' 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.
Myriad Genetics '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 Myriad Genetics' 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 Myriad Genetics.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Myriad Genetics on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Myriad Genetics or generate 0.0% return on investment in Myriad Genetics over 30 days. Myriad Genetics is related to or competes with Olink Holding, Sotera Health, RadNet, BiodesixInc, Castle Biosciences, Prenetics Global, and IQVIA Holdings. Myriad Genetics, Inc., a genetic testing and precision medicine company, develops and commercializes genetic tests in th... More
Myriad Genetics 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 Myriad Genetics' 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 Myriad Genetics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 17.9 | |||
| Value At Risk | (4.98) | |||
| Potential Upside | 4.77 |
Myriad Genetics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Myriad Genetics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Myriad Genetics' standard deviation. In reality, there are many statistical measures that can use Myriad Genetics historical prices to predict the future Myriad Genetics' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.50) | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Myriad Genetics' 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.
Myriad Genetics Backtested Returns
Myriad Genetics has Sharpe Ratio of -0.0839, which conveys that the firm had a -0.0839% return per unit of risk over the last 3 months. Myriad Genetics exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Myriad Genetics' Risk Adjusted Performance of (0.01), mean deviation of 1.97, and Standard Deviation of 2.9 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 2.39, which conveys 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, Myriad Genetics will likely underperform. Myriad Genetics has an expected return of -0.24%. Please make sure to verify Myriad Genetics treynor ratio, kurtosis, as well as the relationship between the Kurtosis and day typical price , to decide if Myriad Genetics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.80 |
Very good predictability
Myriad Genetics has very good predictability. Overlapping area represents the amount of predictability between Myriad Genetics 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 Myriad Genetics price movement. The serial correlation of 0.8 indicates that around 80.0% of current Myriad Genetics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 0.48 |
Myriad Genetics lagged returns against current returns
Autocorrelation, which is Myriad Genetics 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 Myriad Genetics' stock expected returns. We can calculate the autocorrelation of Myriad Genetics returns to help us make a trade decision. For example, suppose you find that Myriad Genetics 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 |
Myriad Genetics 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 Myriad Genetics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Myriad Genetics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Myriad Genetics stock over time.
Current vs Lagged Prices |
| Timeline |
Myriad Genetics Lagged Returns
When evaluating Myriad Genetics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Myriad Genetics stock have on its future price. Myriad Genetics 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, Myriad Genetics autocorrelation shows the relationship between Myriad Genetics stock current value and its past values and can show if there is a momentum factor associated with investing in Myriad Genetics.
Regressed Prices |
| Timeline |
Myriad Genetics Investors Sentiment
The influence of Myriad Genetics' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Myriad. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Myriad Genetics' public news can be used to forecast risks associated with an investment in Myriad. The trend in average sentiment can be used to explain how an investor holding Myriad can time the market purely based on public headlines and social activities around Myriad Genetics. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Myriad Genetics' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Myriad Genetics' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Myriad Genetics' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Myriad Genetics.
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 Myriad Genetics 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, Myriad Genetics' short interest history, or implied volatility extrapolated from Myriad Genetics options trading.
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Try AI Portfolio ArchitectCheck out Myriad Genetics Correlation, Myriad Genetics Volatility and Myriad Genetics Alpha and Beta module to complement your research on Myriad Genetics. To learn how to invest in Myriad Stock, please use our How to Invest in Myriad Genetics guide.Note that the Myriad Genetics information on this page should be used as a complementary analysis to other Myriad Genetics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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When running Myriad Genetics' price analysis, check to measure Myriad Genetics' 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 Myriad Genetics is operating at the current time. Most of Myriad Genetics' value examination focuses on studying past and present price action to predict the probability of Myriad Genetics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Myriad Genetics' price. Additionally, you may evaluate how the addition of Myriad Genetics to your portfolios can decrease your overall portfolio volatility.
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