Bionano Genomics Stock Market Value
| BNGO Stock | USD 0.25 0.03 13.64% |
| Symbol | Bionano |
Bionano Genomics Price To Book Ratio
Is Life Sciences Tools & Services 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 Bionano Genomics. If investors know Bionano 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 Bionano Genomics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (2.30) | Revenue Per Share 0.749 | Quarterly Revenue Growth (0.10) | Return On Assets (0.33) | Return On Equity (1.38) |
The market value of Bionano Genomics is measured differently than its book value, which is the value of Bionano that is recorded on the company's balance sheet. Investors also form their own opinion of Bionano Genomics' value that differs from its market value or its book value, called intrinsic value, which is Bionano Genomics' 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 Bionano Genomics' market value can be influenced by many factors that don't directly affect Bionano Genomics' 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 Bionano Genomics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Bionano Genomics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bionano Genomics' 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.
Bionano Genomics '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 Bionano Genomics' 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 Bionano Genomics.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Bionano Genomics on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Bionano Genomics or generate 0.0% return on investment in Bionano Genomics over 180 days. Bionano Genomics is related to or competes with Intuitive Surgical, Innovative Eyewear, Stereotaxis, Nexgel, Microbot Medical, STAAR Surgical, and Envista Holdings. Bionano Genomics, Inc. provides genome analysis software solutions More
Bionano Genomics 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 Bionano Genomics' 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 Bionano Genomics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 24.71 | |||
| Value At Risk | (7.14) | |||
| Potential Upside | 9.09 |
Bionano Genomics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bionano Genomics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bionano Genomics' standard deviation. In reality, there are many statistical measures that can use Bionano Genomics historical prices to predict the future Bionano Genomics' volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (1.34) | |||
| Total Risk Alpha | (1.82) | |||
| Treynor Ratio | (0.36) |
Bionano Genomics Backtested Returns
Bionano Genomics 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. Bionano Genomics exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Bionano Genomics' Mean Deviation of 4.05, standard deviation of 5.19, and Risk Adjusted Performance of (0.14) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 2.78, 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, Bionano Genomics will likely underperform. At this point, Bionano Genomics has a negative expected return of -0.88%. Please make sure to confirm Bionano Genomics' potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if Bionano Genomics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.77 |
Good predictability
Bionano Genomics has good predictability. Overlapping area represents the amount of predictability between Bionano Genomics time series from 30th of May 2024 to 28th of August 2024 and 28th of August 2024 to 26th 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 Bionano Genomics price movement. The serial correlation of 0.77 indicates that around 77.0% of current Bionano Genomics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Bionano Genomics lagged returns against current returns
Autocorrelation, which is Bionano Genomics 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 Bionano Genomics' stock expected returns. We can calculate the autocorrelation of Bionano Genomics returns to help us make a trade decision. For example, suppose you find that Bionano Genomics 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 |
Bionano Genomics 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 Bionano Genomics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bionano Genomics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bionano Genomics stock over time.
Current vs Lagged Prices |
| Timeline |
Bionano Genomics Lagged Returns
When evaluating Bionano Genomics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bionano Genomics stock have on its future price. Bionano Genomics 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, Bionano Genomics autocorrelation shows the relationship between Bionano Genomics stock current value and its past values and can show if there is a momentum factor associated with investing in Bionano Genomics.
Regressed Prices |
| Timeline |
Pair Trading with Bionano Genomics
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 Bionano Genomics 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 Bionano Genomics will appreciate offsetting losses from the drop in the long position's value.Moving together with Bionano Stock
| 0.69 | A | Agilent Technologies Sell-off Trend | PairCorr |
| 0.88 | ME | 23Andme Holding | PairCorr |
| 0.86 | VALN | Valneva SE ADR | PairCorr |
Moving against Bionano Stock
| 0.86 | EXEL | Exelixis | PairCorr |
| 0.86 | BMY | Bristol Myers Squibb Sell-off Trend | PairCorr |
| 0.81 | EWTX | Edgewise Therapeutics | PairCorr |
| 0.48 | VRDN | Viridian Therapeutics | PairCorr |
| 0.45 | KTTAW | Pasithea Therapeutics | PairCorr |
The ability to find closely correlated positions to Bionano Genomics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bionano Genomics 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 Bionano Genomics - 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 Bionano Genomics to buy it.
The correlation of Bionano Genomics 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 Bionano Genomics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bionano Genomics 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 Bionano Genomics 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 Bionano Genomics Correlation, Bionano Genomics Volatility and Bionano Genomics Alpha and Beta module to complement your research on Bionano Genomics. To learn how to invest in Bionano Stock, please use our How to Invest in Bionano Genomics guide.You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Bionano Genomics 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.