Eledon Pharmaceuticals Stock Market Value
| ELDN Stock | USD 4.01 0.06 1.47% |
| Symbol | Eledon |
Eledon Pharmaceuticals 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 Eledon Pharmaceuticals. If investors know Eledon 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 Eledon Pharmaceuticals listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share 0.73 | Return On Assets (0.33) | Return On Equity (0.25) |
The market value of Eledon Pharmaceuticals is measured differently than its book value, which is the value of Eledon that is recorded on the company's balance sheet. Investors also form their own opinion of Eledon Pharmaceuticals' value that differs from its market value or its book value, called intrinsic value, which is Eledon Pharmaceuticals' 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 Eledon Pharmaceuticals' market value can be influenced by many factors that don't directly affect Eledon Pharmaceuticals' 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 Eledon Pharmaceuticals' value and its price as these two are different measures arrived at by different means. Investors typically determine if Eledon Pharmaceuticals is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eledon Pharmaceuticals' 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.
Eledon Pharmaceuticals '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 Eledon Pharmaceuticals' 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 Eledon Pharmaceuticals.
| 12/06/2022 |
| 11/25/2024 |
If you would invest 0.00 in Eledon Pharmaceuticals on December 6, 2022 and sell it all today you would earn a total of 0.00 from holding Eledon Pharmaceuticals or generate 0.0% return on investment in Eledon Pharmaceuticals over 720 days. Eledon Pharmaceuticals is related to or competes with Inozyme Pharma, Day One, Terns Pharmaceuticals, Hookipa Pharma, X4 Pharmaceuticals, Acumen Pharmaceuticals, and Amylyx Pharmaceuticals. Eledon Pharmaceuticals, Inc., clinical stage biopharmaceutical company, focuses on developing medicines for the patients... More
Eledon Pharmaceuticals 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 Eledon Pharmaceuticals' 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 Eledon Pharmaceuticals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.39 | |||
| Information Ratio | 0.0936 | |||
| Maximum Drawdown | 28.12 | |||
| Value At Risk | (4.24) | |||
| Potential Upside | 10.09 |
Eledon Pharmaceuticals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eledon Pharmaceuticals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eledon Pharmaceuticals' standard deviation. In reality, there are many statistical measures that can use Eledon Pharmaceuticals historical prices to predict the future Eledon Pharmaceuticals' volatility.| Risk Adjusted Performance | 0.1014 | |||
| Jensen Alpha | 0.5655 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | 0.1302 | |||
| Treynor Ratio | (22.59) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Eledon Pharmaceuticals' 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.
Eledon Pharmaceuticals Backtested Returns
Eledon Pharmaceuticals appears to be moderately volatile, given 3 months investment horizon. Eledon Pharmaceuticals secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the company had a 0.13% return per unit of risk over the last 3 months. By reviewing Eledon Pharmaceuticals' technical indicators, you can evaluate if the expected return of 0.64% is justified by implied risk. Please utilize Eledon Pharmaceuticals' Coefficient Of Variation of 824.25, mean deviation of 3.42, and Downside Deviation of 3.39 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Eledon Pharmaceuticals holds a performance score of 10. The firm shows a Beta (market volatility) of -0.0249, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Eledon Pharmaceuticals are expected to decrease at a much lower rate. During the bear market, Eledon Pharmaceuticals is likely to outperform the market. Please check Eledon Pharmaceuticals' downside variance, day median price, and the relationship between the treynor ratio and kurtosis , to make a quick decision on whether Eledon Pharmaceuticals' price patterns will revert.
Auto-correlation | -0.71 |
Almost perfect reverse predictability
Eledon Pharmaceuticals has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Eledon Pharmaceuticals time series from 6th of December 2022 to 1st of December 2023 and 1st of December 2023 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 Eledon Pharmaceuticals price movement. The serial correlation of -0.71 indicates that around 71.0% of current Eledon Pharmaceuticals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.71 | |
| Spearman Rank Test | -0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 0.62 |
Eledon Pharmaceuticals lagged returns against current returns
Autocorrelation, which is Eledon Pharmaceuticals 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 Eledon Pharmaceuticals' stock expected returns. We can calculate the autocorrelation of Eledon Pharmaceuticals returns to help us make a trade decision. For example, suppose you find that Eledon Pharmaceuticals 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 |
Eledon Pharmaceuticals 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 Eledon Pharmaceuticals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eledon Pharmaceuticals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eledon Pharmaceuticals stock over time.
Current vs Lagged Prices |
| Timeline |
Eledon Pharmaceuticals Lagged Returns
When evaluating Eledon Pharmaceuticals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eledon Pharmaceuticals stock have on its future price. Eledon Pharmaceuticals 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, Eledon Pharmaceuticals autocorrelation shows the relationship between Eledon Pharmaceuticals stock current value and its past values and can show if there is a momentum factor associated with investing in Eledon Pharmaceuticals.
Regressed Prices |
| Timeline |
Pair Trading with Eledon Pharmaceuticals
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 Eledon Pharmaceuticals 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 Eledon Pharmaceuticals will appreciate offsetting losses from the drop in the long position's value.Moving against Eledon Stock
| 0.83 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.8 | MTEM | Molecular Templates | PairCorr |
| 0.75 | TPST | Tempest Therapeutics | PairCorr |
| 0.74 | ME | 23Andme Holding | PairCorr |
| 0.72 | NKTX | Nkarta Inc | PairCorr |
The ability to find closely correlated positions to Eledon Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eledon Pharmaceuticals 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 Eledon Pharmaceuticals - 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 Eledon Pharmaceuticals to buy it.
The correlation of Eledon Pharmaceuticals 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 Eledon Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eledon Pharmaceuticals 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 Eledon Pharmaceuticals 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 Eledon Pharmaceuticals Correlation, Eledon Pharmaceuticals Volatility and Eledon Pharmaceuticals Alpha and Beta module to complement your research on Eledon Pharmaceuticals. To learn how to invest in Eledon Stock, please use our How to Invest in Eledon Pharmaceuticals guide.You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Eledon Pharmaceuticals 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.