Medicure Stock Market Value
| MPH Stock | CAD 0.90 0.02 2.27% |
| Symbol | Medicure |
Medicure Price To Book Ratio
Medicure '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 Medicure'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 Medicure.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Medicure on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Medicure or generate 0.0% return on investment in Medicure over 30 days. Medicure is related to or competes with Biosyent, Covalon Technologies, Cipher Pharmaceuticals, and Knight Therapeutics. Medicure Inc., a pharmaceutical company, engages in the development and commercialization of therapies for the cardiovas... More
Medicure 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 Medicure'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 Medicure upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 33.84 | |||
| Value At Risk | (8.33) | |||
| Potential Upside | 2.0 |
Medicure Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Medicure's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Medicure's standard deviation. In reality, there are many statistical measures that can use Medicure historical prices to predict the future Medicure's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.73) | |||
| Treynor Ratio | (0.15) |
Medicure Backtested Returns
Medicure has Sharpe Ratio of -0.0264, which conveys that the firm had a -0.0264% return per unit of risk over the last 3 months. Medicure exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Medicure's Standard Deviation of 3.95, risk adjusted performance of (0.01), and Mean Deviation of 1.41 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.73, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Medicure's returns are expected to increase less than the market. However, during the bear market, the loss of holding Medicure is expected to be smaller as well. At this point, Medicure has a negative expected return of -0.11%. Please make sure to verify Medicure's jensen alpha and the relationship between the potential upside and period momentum indicator , to decide if Medicure performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.18 |
Insignificant reverse predictability
Medicure has insignificant reverse predictability. Overlapping area represents the amount of predictability between Medicure time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Medicure price movement. The serial correlation of -0.18 indicates that over 18.0% of current Medicure price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.18 | |
| Spearman Rank Test | 0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Medicure lagged returns against current returns
Autocorrelation, which is Medicure 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 Medicure's stock expected returns. We can calculate the autocorrelation of Medicure returns to help us make a trade decision. For example, suppose you find that Medicure 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 |
Medicure 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 Medicure stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Medicure stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Medicure stock over time.
Current vs Lagged Prices |
| Timeline |
Medicure Lagged Returns
When evaluating Medicure's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Medicure stock have on its future price. Medicure 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, Medicure autocorrelation shows the relationship between Medicure stock current value and its past values and can show if there is a momentum factor associated with investing in Medicure.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Medicure Stock Analysis
When running Medicure's price analysis, check to measure Medicure'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 Medicure is operating at the current time. Most of Medicure's value examination focuses on studying past and present price action to predict the probability of Medicure's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Medicure's price. Additionally, you may evaluate how the addition of Medicure to your portfolios can decrease your overall portfolio volatility.