Myomo Inc Stock Market Value
| MYO Stock | USD 5.62 0.40 7.66% |
| Symbol | Myomo |
Myomo Inc Price To Book Ratio
Is Health Care Equipment & Supplies 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 Myomo. If investors know Myomo 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 Myomo listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.23) | Revenue Per Share 0.835 | Quarterly Revenue Growth 0.813 | Return On Assets (0.31) | Return On Equity (0.83) |
The market value of Myomo Inc is measured differently than its book value, which is the value of Myomo that is recorded on the company's balance sheet. Investors also form their own opinion of Myomo's value that differs from its market value or its book value, called intrinsic value, which is Myomo'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 Myomo's market value can be influenced by many factors that don't directly affect Myomo'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 Myomo's value and its price as these two are different measures arrived at by different means. Investors typically determine if Myomo is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Myomo'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.
Myomo '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 Myomo'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 Myomo.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Myomo on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Myomo Inc or generate 0.0% return on investment in Myomo over 540 days. Myomo is related to or competes with SINTX Technologies, ReShape Lifesciences, Bone Biologics, Tivic Health, Bluejay Diagnostics, Vivos Therapeutics, and Rapid Micro. Myomo, Inc., a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with ... More
Myomo 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 Myomo'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 Myomo Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.86 | |||
| Information Ratio | 0.0896 | |||
| Maximum Drawdown | 25.51 | |||
| Value At Risk | (5.41) | |||
| Potential Upside | 6.04 |
Myomo Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Myomo's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Myomo's standard deviation. In reality, there are many statistical measures that can use Myomo historical prices to predict the future Myomo's volatility.| Risk Adjusted Performance | 0.0998 | |||
| Jensen Alpha | 0.2706 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | 0.0969 | |||
| Treynor Ratio | 0.2582 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Myomo's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Myomo Inc Backtested Returns
Myomo appears to be relatively risky, given 3 months investment horizon. Myomo Inc has Sharpe Ratio of 0.14, which conveys that the firm had a 0.14% return per unit of risk over the last 3 months. By analyzing Myomo's technical indicators, you can evaluate if the expected return of 0.54% is justified by implied risk. Please exercise Myomo's Risk Adjusted Performance of 0.0998, mean deviation of 2.75, and Downside Deviation of 3.86 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Myomo holds a performance score of 11. The company secures a Beta (Market Risk) of 1.89, 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, Myomo will likely underperform. Please check Myomo's value at risk, as well as the relationship between the kurtosis and price action indicator , to make a quick decision on whether Myomo's current price movements will revert.
Auto-correlation | 0.30 |
Below average predictability
Myomo Inc has below average predictability. Overlapping area represents the amount of predictability between Myomo time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Myomo Inc price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current Myomo price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.3 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 0.34 |
Myomo Inc lagged returns against current returns
Autocorrelation, which is Myomo 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 Myomo's stock expected returns. We can calculate the autocorrelation of Myomo returns to help us make a trade decision. For example, suppose you find that Myomo 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 |
Myomo 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 Myomo stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Myomo stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Myomo stock over time.
Current vs Lagged Prices |
| Timeline |
Myomo Lagged Returns
When evaluating Myomo's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Myomo stock have on its future price. Myomo 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, Myomo autocorrelation shows the relationship between Myomo stock current value and its past values and can show if there is a momentum factor associated with investing in Myomo Inc.
Regressed Prices |
| Timeline |
Pair Trading with Myomo
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 Myomo 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 Myomo will appreciate offsetting losses from the drop in the long position's value.Moving together with Myomo Stock
Moving against Myomo Stock
| 0.77 | EKSO | Ekso Bionics Holdings | PairCorr |
| 0.58 | VERO | Venus Concept | PairCorr |
| 0.58 | DRIO | DarioHealth Corp | PairCorr |
The ability to find closely correlated positions to Myomo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Myomo 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 Myomo - 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 Myomo Inc to buy it.
The correlation of Myomo 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 Myomo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Myomo Inc 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 Myomo 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 Myomo Correlation, Myomo Volatility and Myomo Alpha and Beta module to complement your research on Myomo. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Myomo 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.