Edesa Biotech Stock Market Value
| EDSA Stock | USD 2.11 0.09 4.09% |
| Symbol | Edesa |
Edesa Biotech 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 Edesa Biotech. If investors know Edesa 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 Edesa Biotech listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (19.78) | Quarterly Revenue Growth (1.00) | Return On Assets (0.72) | Return On Equity (1.29) |
The market value of Edesa Biotech is measured differently than its book value, which is the value of Edesa that is recorded on the company's balance sheet. Investors also form their own opinion of Edesa Biotech's value that differs from its market value or its book value, called intrinsic value, which is Edesa Biotech's 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 Edesa Biotech's market value can be influenced by many factors that don't directly affect Edesa Biotech's 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 Edesa Biotech's value and its price as these two are different measures arrived at by different means. Investors typically determine if Edesa Biotech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Edesa Biotech's 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.
Edesa Biotech '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 Edesa Biotech's 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 Edesa Biotech.
| 10/22/2024 |
| 11/21/2024 |
If you would invest 0.00 in Edesa Biotech on October 22, 2024 and sell it all today you would earn a total of 0.00 from holding Edesa Biotech or generate 0.0% return on investment in Edesa Biotech over 30 days. Edesa Biotech is related to or competes with ZyVersa Therapeutics, Sonnet Biotherapeutics, Zura Bio, Phio Pharmaceuticals, Transcode Therapeutics, and Quoin Pharmaceuticals. Edesa Biotech, Inc., a biopharmaceutical company, engages in acquiring, developing, and commercializing clinical-stage d... More
Edesa Biotech 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 Edesa Biotech's 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 Edesa Biotech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 25.86 | |||
| Value At Risk | (7.95) | |||
| Potential Upside | 4.76 |
Edesa Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Edesa Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Edesa Biotech's standard deviation. In reality, there are many statistical measures that can use Edesa Biotech historical prices to predict the future Edesa Biotech's volatility.| Risk Adjusted Performance | (0.16) | |||
| Jensen Alpha | (1.06) | |||
| Total Risk Alpha | (1.40) | |||
| Treynor Ratio | (0.62) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Edesa Biotech's 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.
Edesa Biotech Backtested Returns
Edesa Biotech secures Sharpe Ratio (or Efficiency) of -0.25, which denotes the company had a -0.25% return per unit of risk over the last 3 months. Edesa Biotech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Edesa Biotech's Mean Deviation of 2.9, variance of 17.18, and Standard Deviation of 4.15 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.5, which means 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, Edesa Biotech will likely underperform. At this point, Edesa Biotech has a negative expected return of -1.07%. Please make sure to confirm Edesa Biotech's skewness, day typical price, and the relationship between the maximum drawdown and daily balance of power , to decide if Edesa Biotech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.70 |
Good predictability
Edesa Biotech has good predictability. Overlapping area represents the amount of predictability between Edesa Biotech time series from 22nd of October 2024 to 6th of November 2024 and 6th of November 2024 to 21st 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 Edesa Biotech price movement. The serial correlation of 0.7 indicates that around 70.0% of current Edesa Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Edesa Biotech lagged returns against current returns
Autocorrelation, which is Edesa Biotech 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 Edesa Biotech's stock expected returns. We can calculate the autocorrelation of Edesa Biotech returns to help us make a trade decision. For example, suppose you find that Edesa Biotech 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 |
Edesa Biotech 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 Edesa Biotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Edesa Biotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Edesa Biotech stock over time.
Current vs Lagged Prices |
| Timeline |
Edesa Biotech Lagged Returns
When evaluating Edesa Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Edesa Biotech stock have on its future price. Edesa Biotech 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, Edesa Biotech autocorrelation shows the relationship between Edesa Biotech stock current value and its past values and can show if there is a momentum factor associated with investing in Edesa Biotech.
Regressed Prices |
| Timeline |
Also Currently Popular
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.When determining whether Edesa Biotech offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Edesa Biotech's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Edesa Biotech Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Edesa Biotech Stock:Check out Edesa Biotech Correlation, Edesa Biotech Volatility and Edesa Biotech Alpha and Beta module to complement your research on Edesa Biotech. For information on how to trade Edesa Stock refer to our How to Trade Edesa Stock guide.You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Edesa Biotech 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.