Fortress Biotech Pref Preferred Stock Market Value
| FBIOP Preferred Stock | USD 5.22 0.04 0.77% |
| Symbol | Fortress |
Fortress 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 Fortress Biotech's preferred 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 Fortress Biotech.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Fortress Biotech on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Fortress Biotech Pref or generate 0.0% return on investment in Fortress Biotech over 180 days. Fortress Biotech is related to or competes with Absci Corp, Larimar Therapeutics, InMed Pharmaceuticals, Kronos Bio, OmniAb, Vaxart, and Novavax. Fortress Biotech, Inc., a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology produc... More
Fortress 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 Fortress Biotech's preferred 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 Fortress Biotech Pref upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 16.27 | |||
| Value At Risk | (4.72) | |||
| Potential Upside | 3.13 |
Fortress Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortress Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortress Biotech's standard deviation. In reality, there are many statistical measures that can use Fortress Biotech historical prices to predict the future Fortress Biotech's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.42) | |||
| Total Risk Alpha | (0.79) | |||
| Treynor Ratio | (0.55) |
Fortress Biotech Pref Backtested Returns
Fortress Biotech Pref secures Sharpe Ratio (or Efficiency) of -0.11, which denotes the company had a -0.11% return per unit of risk over the last 3 months. Fortress Biotech Pref exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fortress Biotech's Mean Deviation of 2.04, standard deviation of 2.84, and Variance of 8.08 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.63, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fortress Biotech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fortress Biotech is expected to be smaller as well. At this point, Fortress Biotech Pref has a negative expected return of -0.3%. Please make sure to confirm Fortress Biotech's total risk alpha, kurtosis, as well as the relationship between the Kurtosis and day typical price , to decide if Fortress Biotech Pref performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.52 |
Modest predictability
Fortress Biotech Pref has modest predictability. Overlapping area represents the amount of predictability between Fortress Biotech 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 Fortress Biotech Pref price movement. The serial correlation of 0.52 indicates that about 52.0% of current Fortress Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Fortress Biotech Pref lagged returns against current returns
Autocorrelation, which is Fortress Biotech preferred 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 Fortress Biotech's preferred stock expected returns. We can calculate the autocorrelation of Fortress Biotech returns to help us make a trade decision. For example, suppose you find that Fortress Biotech has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Fortress 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 Fortress Biotech preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortress Biotech preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fortress Biotech preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Fortress Biotech Lagged Returns
When evaluating Fortress Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortress Biotech preferred stock have on its future price. Fortress 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, Fortress Biotech autocorrelation shows the relationship between Fortress Biotech preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Fortress Biotech Pref.
Regressed Prices |
| Timeline |
Pair Trading with Fortress Biotech
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 Fortress Biotech 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 Fortress Biotech will appreciate offsetting losses from the drop in the long position's value.Moving against Fortress Preferred Stock
| 0.59 | GRCE | Grace Therapeutics, Symbol Change | PairCorr |
| 0.41 | ZBIO | Zenas BioPharma, Common | PairCorr |
| 0.31 | EPRX | Eupraxia Pharmaceuticals | PairCorr |
The ability to find closely correlated positions to Fortress Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortress Biotech 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 Fortress Biotech - 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 Fortress Biotech Pref to buy it.
The correlation of Fortress Biotech 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 Fortress Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortress Biotech Pref 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 Fortress Biotech 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.Additional Tools for Fortress Preferred Stock Analysis
When running Fortress Biotech's price analysis, check to measure Fortress Biotech's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fortress Biotech is operating at the current time. Most of Fortress Biotech's value examination focuses on studying past and present price action to predict the probability of Fortress Biotech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fortress Biotech's price. Additionally, you may evaluate how the addition of Fortress Biotech to your portfolios can decrease your overall portfolio volatility.