Ovid Therapeutics Stock Market Value
| OVID Stock | USD 3.11 0.01 0.32% |
| Symbol | Ovid |
Ovid Therapeutics Price To Book Ratio
Is Biotechnology space 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 Ovid Therapeutics. If investors know Ovid 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 Ovid Therapeutics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.72) | Revenue Per Share 0.007 | Quarterly Revenue Growth 1.242 | Return On Assets (0.28) | Return On Equity (0.51) |
The market value of Ovid Therapeutics is measured differently than its book value, which is the value of Ovid that is recorded on the company's balance sheet. Investors also form their own opinion of Ovid Therapeutics' value that differs from its market value or its book value, called intrinsic value, which is Ovid Therapeutics' 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 Ovid Therapeutics' market value can be influenced by many factors that don't directly affect Ovid Therapeutics' 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 Ovid Therapeutics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Ovid Therapeutics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ovid Therapeutics' 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.
Ovid Therapeutics '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 Ovid Therapeutics' 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 Ovid Therapeutics.
| 03/14/2024 |
| 06/12/2024 |
If you would invest 0.00 in Ovid Therapeutics on March 14, 2024 and sell it all today you would earn a total of 0.00 from holding Ovid Therapeutics or generate 0.0% return on investment in Ovid Therapeutics over 90 days. Ovid Therapeutics is related to or competes with CytomX Therapeutics, Spero Therapeutics, Instil Bio, NextCure, Assembly Biosciences, Achilles Therapeutics, and Nuvation Bio. Ovid Therapeutics Inc., a biopharmaceutical company, develops impactful medicines for patients and families with neurolo... More
Ovid Therapeutics 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 Ovid Therapeutics' 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 Ovid Therapeutics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.03 | |||
| Information Ratio | 0.0188 | |||
| Maximum Drawdown | 18.0 | |||
| Value At Risk | (4.55) | |||
| Potential Upside | 6.56 |
Ovid Therapeutics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ovid Therapeutics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ovid Therapeutics' standard deviation. In reality, there are many statistical measures that can use Ovid Therapeutics historical prices to predict the future Ovid Therapeutics' volatility.| Risk Adjusted Performance | 0.0206 | |||
| Jensen Alpha | 0.065 | |||
| Total Risk Alpha | 0.083 | |||
| Sortino Ratio | 0.0198 | |||
| Treynor Ratio | 0.0287 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ovid Therapeutics' 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.
Ovid Therapeutics Backtested Returns
Ovid Therapeutics appears to be relatively risky, given 3 months investment horizon. Ovid Therapeutics maintains Sharpe Ratio (i.e., Efficiency) of 0.0781, which implies the firm had a 0.0781% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Ovid Therapeutics, which you can use to evaluate the volatility of the company. Please evaluate Ovid Therapeutics' Semi Deviation of 2.76, coefficient of variation of 4949.25, and Risk Adjusted Performance of 0.0206 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ovid Therapeutics holds a performance score of 6. The company holds a Beta of 1.9, which implies 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, Ovid Therapeutics will likely underperform. Please check Ovid Therapeutics' total risk alpha, expected short fall, price action indicator, as well as the relationship between the value at risk and daily balance of power , to make a quick decision on whether Ovid Therapeutics' historical price patterns will revert.
Auto-correlation | -0.21 |
Weak reverse predictability
Ovid Therapeutics has weak reverse predictability. Overlapping area represents the amount of predictability between Ovid Therapeutics time series from 14th of March 2024 to 28th of April 2024 and 28th of April 2024 to 12th of June 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 Ovid Therapeutics price movement. The serial correlation of -0.21 indicates that over 21.0% of current Ovid Therapeutics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Ovid Therapeutics lagged returns against current returns
Autocorrelation, which is Ovid Therapeutics 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 Ovid Therapeutics' stock expected returns. We can calculate the autocorrelation of Ovid Therapeutics returns to help us make a trade decision. For example, suppose you find that Ovid Therapeutics 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 |
Ovid Therapeutics 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 Ovid Therapeutics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ovid Therapeutics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ovid Therapeutics stock over time.
Current vs Lagged Prices |
| Timeline |
Ovid Therapeutics Lagged Returns
When evaluating Ovid Therapeutics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ovid Therapeutics stock have on its future price. Ovid Therapeutics 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, Ovid Therapeutics autocorrelation shows the relationship between Ovid Therapeutics stock current value and its past values and can show if there is a momentum factor associated with investing in Ovid Therapeutics.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Information and Resources on Investing in Ovid Stock
When determining whether Ovid Therapeutics is a strong investment it is important to analyze Ovid Therapeutics' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Ovid Therapeutics' future performance. For an informed investment choice regarding Ovid Stock, refer to the following important reports:Check out Ovid Therapeutics Correlation, Ovid Therapeutics Volatility and Ovid Therapeutics Alpha and Beta module to complement your research on Ovid Therapeutics. For information on how to trade Ovid Stock refer to our How to Trade Ovid Stock guide.You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Ovid Therapeutics 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.