Knight Therapeutics Stock Market Value
| GUD Stock | CAD 5.29 0.01 0.19% |
| Symbol | Knight |
Knight Therapeutics Price To Book Ratio
Knight Therapeutics '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 Knight Therapeutics' 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 Knight Therapeutics.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in Knight Therapeutics on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding Knight Therapeutics or generate 0.0% return on investment in Knight Therapeutics over 720 days. Knight Therapeutics is related to or competes with Stella Jones, Richelieu Hardware, Element Fleet, ECN Capital, and Winpak. Knight Therapeutics Inc. operates as a specialty pharmaceutical company in Canada and internationally More
Knight Therapeutics 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 Knight Therapeutics' 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 Knight Therapeutics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 17.56 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 3.47 |
Knight Therapeutics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Knight Therapeutics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Knight Therapeutics' standard deviation. In reality, there are many statistical measures that can use Knight Therapeutics historical prices to predict the future Knight Therapeutics' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.77) |
Knight Therapeutics Backtested Returns
Knight Therapeutics has Sharpe Ratio of -0.04, which conveys that the firm had a -0.04% return per unit of risk over the last 3 months. Knight Therapeutics exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Knight Therapeutics' Standard Deviation of 2.13, mean deviation of 1.29, and Risk Adjusted Performance of (0.03) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.14, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Knight Therapeutics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Knight Therapeutics is expected to be smaller as well. At this point, Knight Therapeutics has a negative expected return of -0.0866%. Please make sure to verify Knight Therapeutics' information ratio, kurtosis, period momentum indicator, as well as the relationship between the treynor ratio and rate of daily change , to decide if Knight Therapeutics performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.5 |
Modest reverse predictability
Knight Therapeutics has modest reverse predictability. Overlapping area represents the amount of predictability between Knight Therapeutics time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 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 Knight Therapeutics price movement. The serial correlation of -0.5 indicates that about 50.0% of current Knight Therapeutics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.5 | |
| Spearman Rank Test | -0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Knight Therapeutics lagged returns against current returns
Autocorrelation, which is Knight Therapeutics 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 Knight Therapeutics' stock expected returns. We can calculate the autocorrelation of Knight Therapeutics returns to help us make a trade decision. For example, suppose you find that Knight Therapeutics 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 |
Knight Therapeutics 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 Knight Therapeutics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Knight Therapeutics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Knight Therapeutics stock over time.
Current vs Lagged Prices |
| Timeline |
Knight Therapeutics Lagged Returns
When evaluating Knight Therapeutics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Knight Therapeutics stock have on its future price. Knight Therapeutics 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, Knight Therapeutics autocorrelation shows the relationship between Knight Therapeutics stock current value and its past values and can show if there is a momentum factor associated with investing in Knight Therapeutics.
Regressed Prices |
| Timeline |
Pair Trading with Knight Therapeutics
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 Knight Therapeutics 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 Knight Therapeutics will appreciate offsetting losses from the drop in the long position's value.Moving against Knight Stock
| 0.68 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.64 | NVDA | NVIDIA CDR | PairCorr |
| 0.62 | FTN-PA | Financial 15 Split | PairCorr |
| 0.61 | FFH | Fairfax Financial | PairCorr |
| 0.55 | FSV | FirstService Corp | PairCorr |
The ability to find closely correlated positions to Knight Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Knight Therapeutics 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 Knight Therapeutics - 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 Knight Therapeutics to buy it.
The correlation of Knight Therapeutics 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 Knight Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Knight Therapeutics 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 Knight Therapeutics 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.Other Information on Investing in Knight Stock
Knight Therapeutics financial ratios help investors to determine whether Knight Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Knight with respect to the benefits of owning Knight Therapeutics security.