Aptose Biosciences Stock Market Value
| APS Stock | CAD 0.27 0.07 20.59% |
| Symbol | Aptose |
Aptose Biosciences Price To Book Ratio
Aptose 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 Aptose 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 Aptose Biosciences.
| 12/04/2022 |
| 11/23/2024 |
If you would invest 0.00 in Aptose Biosciences on December 4, 2022 and sell it all today you would earn a total of 0.00 from holding Aptose Biosciences or generate 0.0% return on investment in Aptose Biosciences over 720 days. Aptose Biosciences is related to or competes with Medicenna Therapeutics, and Oncolytics Biotech. Aptose Biosciences Inc., a clinical-stage biotechnology company, discovers and develops personalized therapies addressin... More
Aptose 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 Aptose 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 Aptose Biosciences upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 34.0 | |||
| Value At Risk | (10.53) | |||
| Potential Upside | 5.66 |
Aptose Biosciences Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Aptose Biosciences' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aptose Biosciences' standard deviation. In reality, there are many statistical measures that can use Aptose Biosciences historical prices to predict the future Aptose Biosciences' volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (1.07) | |||
| Total Risk Alpha | (2.04) | |||
| Treynor Ratio | 1.47 |
Aptose Biosciences Backtested Returns
Aptose Biosciences secures Sharpe Ratio (or Efficiency) of -0.17, which signifies that the company had a -0.17% return per unit of risk over the last 3 months. Aptose Biosciences exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Aptose Biosciences' Mean Deviation of 3.58, standard deviation of 5.54, and Risk Adjusted Performance of (0.15) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.79, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Aptose Biosciences are expected to decrease at a much lower rate. During the bear market, Aptose Biosciences is likely to outperform the market. At this point, Aptose Biosciences has a negative expected return of -0.9%. Please make sure to confirm Aptose Biosciences' skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if Aptose Biosciences performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.91 |
Excellent predictability
Aptose Biosciences has excellent predictability. Overlapping area represents the amount of predictability between Aptose Biosciences time series from 4th of December 2022 to 29th of November 2023 and 29th of November 2023 to 23rd of November 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 Aptose Biosciences price movement. The serial correlation of 0.91 indicates that approximately 91.0% of current Aptose Biosciences price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.91 | |
| Spearman Rank Test | 0.91 | |
| Residual Average | 0.0 | |
| Price Variance | 0.92 |
Aptose Biosciences lagged returns against current returns
Autocorrelation, which is Aptose 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 Aptose Biosciences' stock expected returns. We can calculate the autocorrelation of Aptose Biosciences returns to help us make a trade decision. For example, suppose you find that Aptose 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 |
Aptose 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 Aptose Biosciences stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aptose Biosciences stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aptose Biosciences stock over time.
Current vs Lagged Prices |
| Timeline |
Aptose Biosciences Lagged Returns
When evaluating Aptose Biosciences' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aptose Biosciences stock have on its future price. Aptose 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, Aptose Biosciences autocorrelation shows the relationship between Aptose Biosciences stock current value and its past values and can show if there is a momentum factor associated with investing in Aptose Biosciences.
Regressed Prices |
| Timeline |
Pair Trading with Aptose 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 Aptose 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 Aptose Biosciences will appreciate offsetting losses from the drop in the long position's value.Moving against Aptose Stock
| 0.47 | WMT | Walmart Inc CDR | PairCorr |
| 0.36 | TSLA | Tesla Inc CDR | PairCorr |
| 0.31 | BRK | Berkshire Hathaway CDR | PairCorr |
The ability to find closely correlated positions to Aptose 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 Aptose 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 Aptose 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 Aptose Biosciences to buy it.
The correlation of Aptose 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 Aptose Biosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aptose 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 Aptose 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 Aptose Biosciences Correlation, Aptose Biosciences Volatility and Aptose Biosciences Alpha and Beta module to complement your research on Aptose Biosciences. To learn how to invest in Aptose Stock, please use our How to Invest in Aptose Biosciences guide.You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Aptose 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.