Legend Biotech Corp Stock Market Value
| LEGN Stock | USD 42.69 1.75 4.27% |
| Symbol | Legend |
Legend Biotech Corp 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 Legend Biotech. If investors know Legend 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 Legend 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 (1.92) | Revenue Per Share 2.851 | Quarterly Revenue Growth 0.669 | Return On Assets (0.12) | Return On Equity (0.28) |
The market value of Legend Biotech Corp is measured differently than its book value, which is the value of Legend that is recorded on the company's balance sheet. Investors also form their own opinion of Legend Biotech's value that differs from its market value or its book value, called intrinsic value, which is Legend 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 Legend Biotech's market value can be influenced by many factors that don't directly affect Legend 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 Legend Biotech's value and its price as these two are different measures arrived at by different means. Investors typically determine if Legend Biotech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Legend 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.
Legend 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 Legend 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 Legend Biotech.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Legend Biotech on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Legend Biotech Corp or generate 0.0% return on investment in Legend Biotech over 30 days. Legend Biotech is related to or competes with Eliem Therapeutics, HCW Biologics, Scpharmaceuticals, Milestone Pharmaceuticals, Seres Therapeutics, and Lumos Pharma. Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discove... More
Legend 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 Legend 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 Legend Biotech Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 17.18 | |||
| Value At Risk | (5.82) | |||
| Potential Upside | 4.29 |
Legend Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Legend Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Legend Biotech's standard deviation. In reality, there are many statistical measures that can use Legend Biotech historical prices to predict the future Legend Biotech's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.55) | |||
| Total Risk Alpha | (0.97) | |||
| Treynor Ratio | (0.74) |
Legend Biotech Corp Backtested Returns
Legend Biotech Corp has Sharpe Ratio of -0.15, which conveys that the firm had a -0.15% return per unit of risk over the last 3 months. Legend Biotech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Legend Biotech's Mean Deviation of 2.28, standard deviation of 3.15, and Risk Adjusted Performance of (0.10) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.64, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Legend Biotech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Legend Biotech is expected to be smaller as well. At this point, Legend Biotech Corp has a negative expected return of -0.47%. Please make sure to verify Legend Biotech's skewness, and the relationship between the treynor ratio and rate of daily change , to decide if Legend Biotech Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.56 |
Good reverse predictability
Legend Biotech Corp has good reverse predictability. Overlapping area represents the amount of predictability between Legend Biotech time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 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 Legend Biotech Corp price movement. The serial correlation of -0.56 indicates that roughly 56.0% of current Legend Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 1.85 |
Legend Biotech Corp lagged returns against current returns
Autocorrelation, which is Legend 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 Legend Biotech's stock expected returns. We can calculate the autocorrelation of Legend Biotech returns to help us make a trade decision. For example, suppose you find that Legend 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 |
Legend 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 Legend Biotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Legend Biotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Legend Biotech stock over time.
Current vs Lagged Prices |
| Timeline |
Legend Biotech Lagged Returns
When evaluating Legend Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Legend Biotech stock have on its future price. Legend 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, Legend Biotech autocorrelation shows the relationship between Legend Biotech stock current value and its past values and can show if there is a momentum factor associated with investing in Legend Biotech Corp.
Regressed Prices |
| Timeline |
Pair Trading with Legend 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 Legend 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 Legend Biotech will appreciate offsetting losses from the drop in the long position's value.Moving together with Legend Stock
| 0.74 | ME | 23Andme Holding | PairCorr |
| 0.89 | VALN | Valneva SE ADR | PairCorr |
| 0.71 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
Moving against Legend Stock
| 0.48 | KZR | Kezar Life Sciences | PairCorr |
| 0.46 | MDGL | Madrigal Pharmaceuticals | PairCorr |
| 0.41 | RNXT | RenovoRx | PairCorr |
| 0.4 | MLYS | Mineralys Therapeutics, | PairCorr |
| 0.36 | NXGLW | NexGel Warrant | PairCorr |
The ability to find closely correlated positions to Legend 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 Legend 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 Legend 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 Legend Biotech Corp to buy it.
The correlation of Legend 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 Legend Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Legend Biotech Corp 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 Legend 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.Check out Legend Biotech Correlation, Legend Biotech Volatility and Legend Biotech Alpha and Beta module to complement your research on Legend Biotech. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Legend 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.