Myriad Genetics Stock Market Value
| MYGN Stock | USD 12.67 0.24 1.86% |
| Symbol | Myriad |
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 Myriad Genetics. If investors know Myriad 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 Myriad Genetics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Myriad Genetics is measured differently than its book value, which is the value of Myriad that is recorded on the company's balance sheet. Investors also form their own opinion of Myriad Genetics' value that differs from its market value or its book value, called intrinsic value, which is Myriad Genetics' 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 Myriad Genetics' market value can be influenced by many factors that don't directly affect Myriad Genetics' 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 Myriad Genetics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Myriad Genetics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Myriad Genetics' 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.
Myriad Genetics '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 Myriad Genetics' 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 Myriad Genetics.
| 02/07/2024 |
| 02/01/2025 |
If you would invest 0.00 in Myriad Genetics on February 7, 2024 and sell it all today you would earn a total of 0.00 from holding Myriad Genetics or generate 0.0% return on investment in Myriad Genetics over 360 days. Myriad Genetics is related to or competes with Guardant Health, Caredx, Castle Biosciences, Sotera Health, Neogen, RadNet, and Natera. Myriad Genetics, Inc., a genetic testing and precision medicine company, develops and commercializes genetic tests in th... More
Myriad Genetics 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 Myriad Genetics' 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 Myriad Genetics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 10.45 | |||
| Value At Risk | (4.79) | |||
| Potential Upside | 3.09 |
Myriad Genetics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Myriad Genetics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Myriad Genetics' standard deviation. In reality, there are many statistical measures that can use Myriad Genetics historical prices to predict the future Myriad Genetics' volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.57) | |||
| Total Risk Alpha | (0.74) | |||
| Treynor Ratio | (1.29) |
Myriad Genetics Backtested Returns
Myriad Genetics has Sharpe Ratio of -0.21, which conveys that the firm had a -0.21 % return per unit of risk over the last 3 months. Myriad Genetics exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Myriad Genetics' Standard Deviation of 2.51, risk adjusted performance of (0.17), and Mean Deviation of 1.97 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.42, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Myriad Genetics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Myriad Genetics is expected to be smaller as well. At this point, Myriad Genetics has a negative expected return of -0.53%. Please make sure to verify Myriad Genetics' treynor ratio, kurtosis, as well as the relationship between the Kurtosis and day typical price , to decide if Myriad Genetics performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.68 |
Very good reverse predictability
Myriad Genetics has very good reverse predictability. Overlapping area represents the amount of predictability between Myriad Genetics time series from 7th of February 2024 to 5th of August 2024 and 5th of August 2024 to 1st of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Myriad Genetics price movement. The serial correlation of -0.68 indicates that around 68.0% of current Myriad Genetics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 36.18 |
Myriad Genetics lagged returns against current returns
Autocorrelation, which is Myriad Genetics 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 Myriad Genetics' stock expected returns. We can calculate the autocorrelation of Myriad Genetics returns to help us make a trade decision. For example, suppose you find that Myriad Genetics 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 |
Myriad Genetics 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 Myriad Genetics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Myriad Genetics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Myriad Genetics stock over time.
Current vs Lagged Prices |
| Timeline |
Myriad Genetics Lagged Returns
When evaluating Myriad Genetics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Myriad Genetics stock have on its future price. Myriad Genetics 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, Myriad Genetics autocorrelation shows the relationship between Myriad Genetics stock current value and its past values and can show if there is a momentum factor associated with investing in Myriad Genetics.
Regressed Prices |
| Timeline |
Pair Trading with Myriad Genetics
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 Myriad Genetics 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 Myriad Genetics will appreciate offsetting losses from the drop in the long position's value.Moving against Myriad Stock
The ability to find closely correlated positions to Myriad Genetics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Myriad Genetics 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 Myriad Genetics - 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 Myriad Genetics to buy it.
The correlation of Myriad Genetics 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 Myriad Genetics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Myriad Genetics 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 Myriad Genetics 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 Myriad Genetics Correlation, Myriad Genetics Volatility and Myriad Genetics Alpha and Beta module to complement your research on Myriad Genetics. To learn how to invest in Myriad Stock, please use our How to Invest in Myriad Genetics guide.You can also try the Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Myriad Genetics 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.