Byrna Technologies Stock Market Value
| BYRN Stock | USD 19.99 1.32 6.19% |
| Symbol | Byrna |
Byrna Technologies Price To Book Ratio
Is Industrial Machinery & Supplies & Components 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 Byrna Technologies. If investors know Byrna 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 Byrna Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share 0.11 | Revenue Per Share 3.281 | Quarterly Revenue Growth 1.943 | Return On Assets 0.0197 | Return On Equity 0.0528 |
The market value of Byrna Technologies is measured differently than its book value, which is the value of Byrna that is recorded on the company's balance sheet. Investors also form their own opinion of Byrna Technologies' value that differs from its market value or its book value, called intrinsic value, which is Byrna Technologies' 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 Byrna Technologies' market value can be influenced by many factors that don't directly affect Byrna Technologies' 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 Byrna Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Byrna Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Byrna Technologies' 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.
Byrna Technologies '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 Byrna Technologies' 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 Byrna Technologies.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Byrna Technologies on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Byrna Technologies or generate 0.0% return on investment in Byrna Technologies over 30 days. Byrna Technologies is related to or competes with Boeing, Curtiss Wright, Ehang Holdings, General Dynamics, GE Aerospace, Boeing, and Elbit Systems. Byrna Technologies Inc., a less-lethal defense technology company, develops and manufactures less-lethal munitions More
Byrna Technologies 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 Byrna Technologies' 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 Byrna Technologies upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.2 | |||
| Information Ratio | 0.1553 | |||
| Maximum Drawdown | 54.21 | |||
| Value At Risk | (7.25) | |||
| Potential Upside | 11.96 |
Byrna Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Byrna Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Byrna Technologies' standard deviation. In reality, there are many statistical measures that can use Byrna Technologies historical prices to predict the future Byrna Technologies' volatility.| Risk Adjusted Performance | 0.1421 | |||
| Jensen Alpha | 1.14 | |||
| Total Risk Alpha | 0.105 | |||
| Sortino Ratio | 0.2126 | |||
| Treynor Ratio | 1.73 |
Byrna Technologies Backtested Returns
Byrna Technologies is moderately volatile given 3 months investment horizon. Byrna Technologies secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of risk over the last 3 months. We were able to interpolate data for twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.28% are justified by taking the suggested risk. Use Byrna Technologies Risk Adjusted Performance of 0.1421, mean deviation of 4.77, and Downside Deviation of 5.2 to evaluate company specific risk that cannot be diversified away. Byrna Technologies holds a performance score of 13 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of 0.71, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Byrna Technologies' returns are expected to increase less than the market. However, during the bear market, the loss of holding Byrna Technologies is expected to be smaller as well. Use Byrna Technologies expected short fall, and the relationship between the maximum drawdown and rate of daily change , to analyze future returns on Byrna Technologies.
Auto-correlation | 0.72 |
Good predictability
Byrna Technologies has good predictability. Overlapping area represents the amount of predictability between Byrna Technologies time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Byrna Technologies price movement. The serial correlation of 0.72 indicates that around 72.0% of current Byrna Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 1.25 |
Byrna Technologies lagged returns against current returns
Autocorrelation, which is Byrna Technologies 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 Byrna Technologies' stock expected returns. We can calculate the autocorrelation of Byrna Technologies returns to help us make a trade decision. For example, suppose you find that Byrna Technologies 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 |
Byrna Technologies 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 Byrna Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Byrna Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Byrna Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Byrna Technologies Lagged Returns
When evaluating Byrna Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Byrna Technologies stock have on its future price. Byrna Technologies 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, Byrna Technologies autocorrelation shows the relationship between Byrna Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Byrna Technologies.
Regressed Prices |
| Timeline |
Pair Trading with Byrna Technologies
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 Byrna Technologies 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 Byrna Technologies will appreciate offsetting losses from the drop in the long position's value.Moving against Byrna Stock
| 0.77 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.65 | EVTL | Vertical Aerospace Trending | PairCorr |
| 0.57 | HII | Huntington Ingalls | PairCorr |
| 0.42 | HXL | Hexcel Fiscal Year End 22nd of January 2025 | PairCorr |
The ability to find closely correlated positions to Byrna Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Byrna Technologies 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 Byrna Technologies - 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 Byrna Technologies to buy it.
The correlation of Byrna Technologies 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 Byrna Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Byrna Technologies 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 Byrna Technologies 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 Byrna Technologies Correlation, Byrna Technologies Volatility and Byrna Technologies Alpha and Beta module to complement your research on Byrna Technologies. To learn how to invest in Byrna Stock, please use our How to Invest in Byrna Technologies guide.You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Byrna Technologies 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.