Eyenovia Stock Market Value
| EYEN Stock | USD 0.11 0.02 19.05% |
| Symbol | Eyenovia |
Eyenovia Price To Book Ratio
Is Pharmaceuticals 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 Eyenovia. If investors know Eyenovia 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 Eyenovia listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.69) | Revenue Per Share 0.001 | Quarterly Revenue Growth 4 | Return On Assets (0.93) | Return On Equity (9.15) |
The market value of Eyenovia is measured differently than its book value, which is the value of Eyenovia that is recorded on the company's balance sheet. Investors also form their own opinion of Eyenovia's value that differs from its market value or its book value, called intrinsic value, which is Eyenovia'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 Eyenovia's market value can be influenced by many factors that don't directly affect Eyenovia'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 Eyenovia's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eyenovia is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eyenovia'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.
Eyenovia '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 Eyenovia'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 Eyenovia.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Eyenovia on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Eyenovia or generate 0.0% return on investment in Eyenovia over 30 days. Eyenovia is related to or competes with Reviva Pharmaceuticals, Cidara Therapeutics, Fortress Biotech, Reviva Pharmaceuticals, Cognition Therapeutics, Transcode Therapeutics, and Kodiak Sciences. Eyenovia, Inc., a clinical stage ophthalmic company, engages in developing therapeutics based on its proprietary microdo... More
Eyenovia 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 Eyenovia'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 Eyenovia upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 92.81 | |||
| Value At Risk | (17.07) | |||
| Potential Upside | 14.29 |
Eyenovia Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eyenovia's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eyenovia's standard deviation. In reality, there are many statistical measures that can use Eyenovia historical prices to predict the future Eyenovia's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (1.43) | |||
| Total Risk Alpha | (2.65) | |||
| Treynor Ratio | (0.37) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Eyenovia'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.
Eyenovia Backtested Returns
Eyenovia secures Sharpe Ratio (or Efficiency) of -0.12, which denotes the company had a -0.12% return per unit of risk over the last 3 months. Eyenovia exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eyenovia's Variance of 135.86, mean deviation of 6.43, and Standard Deviation of 11.66 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 3.07, 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, Eyenovia will likely underperform. At this point, Eyenovia has a negative expected return of -1.37%. Please make sure to confirm Eyenovia's treynor ratio, as well as the relationship between the kurtosis and day typical price , to decide if Eyenovia performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.82 |
Very good predictability
Eyenovia has very good predictability. Overlapping area represents the amount of predictability between Eyenovia time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Eyenovia price movement. The serial correlation of 0.82 indicates that around 82.0% of current Eyenovia price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Eyenovia lagged returns against current returns
Autocorrelation, which is Eyenovia 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 Eyenovia's stock expected returns. We can calculate the autocorrelation of Eyenovia returns to help us make a trade decision. For example, suppose you find that Eyenovia 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 |
Eyenovia 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 Eyenovia stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eyenovia stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eyenovia stock over time.
Current vs Lagged Prices |
| Timeline |
Eyenovia Lagged Returns
When evaluating Eyenovia's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eyenovia stock have on its future price. Eyenovia 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, Eyenovia autocorrelation shows the relationship between Eyenovia stock current value and its past values and can show if there is a momentum factor associated with investing in Eyenovia.
Regressed Prices |
| Timeline |
Pair Trading with Eyenovia
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 Eyenovia 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 Eyenovia will appreciate offsetting losses from the drop in the long position's value.Moving together with Eyenovia Stock
| 0.64 | VALN | Valneva SE ADR Downward Rally | PairCorr |
Moving against Eyenovia Stock
| 0.58 | BMY | Bristol Myers Squibb | PairCorr |
| 0.37 | FBRX | Forte Biosciences Trending | PairCorr |
| 0.31 | GILD | Gilead Sciences | PairCorr |
The ability to find closely correlated positions to Eyenovia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eyenovia 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 Eyenovia - 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 Eyenovia to buy it.
The correlation of Eyenovia 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 Eyenovia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eyenovia 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 Eyenovia 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 Eyenovia Correlation, Eyenovia Volatility and Eyenovia Alpha and Beta module to complement your research on Eyenovia. To learn how to invest in Eyenovia Stock, please use our How to Invest in Eyenovia guide.You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Eyenovia 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.