Medmira Stock Market Value
| MIR Stock | CAD 0.08 0.01 11.11% |
| Symbol | MedMira |
MedMira Price To Book Ratio
MedMira '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 MedMira'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 MedMira.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in MedMira on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding MedMira or generate 0.0% return on investment in MedMira over 720 days. MedMira is related to or competes with Aptose Biosciences, IShares Canadian, Altagas Cum, European Residential, RBC Discount, and IShares SPTSX. MedMira Inc., a biotechnology company, researches, develops, manufactures, and commercializes rapid diagnostics and tech... More
MedMira 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 MedMira'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 MedMira upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 23.61 | |||
| Value At Risk | (11.11) | |||
| Potential Upside | 12.5 |
MedMira Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MedMira's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MedMira's standard deviation. In reality, there are many statistical measures that can use MedMira historical prices to predict the future MedMira's volatility.| Risk Adjusted Performance | 0.0017 | |||
| Jensen Alpha | (0.30) | |||
| Total Risk Alpha | (0.87) | |||
| Treynor Ratio | (0.03) |
MedMira Backtested Returns
MedMira has Sharpe Ratio of -0.0091, which conveys that the firm had a -0.0091% return per unit of risk over the last 3 months. MedMira exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MedMira's Standard Deviation of 5.18, risk adjusted performance of 0.0017, and Mean Deviation of 2.31 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 2.03, which conveys 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, MedMira will likely underperform. At this point, MedMira has a negative expected return of -0.0477%. Please make sure to verify MedMira's jensen alpha and the relationship between the potential upside and period momentum indicator , to decide if MedMira performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.10 |
Insignificant predictability
MedMira has insignificant predictability. Overlapping area represents the amount of predictability between MedMira time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 to 24th 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 MedMira price movement. The serial correlation of 0.1 indicates that less than 10.0% of current MedMira price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.1 | |
| Spearman Rank Test | 0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
MedMira lagged returns against current returns
Autocorrelation, which is MedMira 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 MedMira's stock expected returns. We can calculate the autocorrelation of MedMira returns to help us make a trade decision. For example, suppose you find that MedMira 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 |
MedMira 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 MedMira stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MedMira stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MedMira stock over time.
Current vs Lagged Prices |
| Timeline |
MedMira Lagged Returns
When evaluating MedMira's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MedMira stock have on its future price. MedMira 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, MedMira autocorrelation shows the relationship between MedMira stock current value and its past values and can show if there is a momentum factor associated with investing in MedMira.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for MedMira Stock Analysis
When running MedMira's price analysis, check to measure MedMira'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 MedMira is operating at the current time. Most of MedMira's value examination focuses on studying past and present price action to predict the probability of MedMira's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MedMira's price. Additionally, you may evaluate how the addition of MedMira to your portfolios can decrease your overall portfolio volatility.