Neurometrix Stock Market Value
| NURO Stock | USD 4.25 0.03 0.71% |
| Symbol | NeuroMetrix |
NeuroMetrix 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 NeuroMetrix. If investors know NeuroMetrix 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 NeuroMetrix listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (4.51) | Revenue Per Share 2.157 | Quarterly Revenue Growth (0.51) | Return On Assets (0.28) | Return On Equity (0.43) |
The market value of NeuroMetrix is measured differently than its book value, which is the value of NeuroMetrix that is recorded on the company's balance sheet. Investors also form their own opinion of NeuroMetrix's value that differs from its market value or its book value, called intrinsic value, which is NeuroMetrix'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 NeuroMetrix's market value can be influenced by many factors that don't directly affect NeuroMetrix'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 NeuroMetrix's value and its price as these two are different measures arrived at by different means. Investors typically determine if NeuroMetrix is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NeuroMetrix'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.
NeuroMetrix '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 NeuroMetrix'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 NeuroMetrix.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in NeuroMetrix on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding NeuroMetrix or generate 0.0% return on investment in NeuroMetrix over 30 days. NeuroMetrix is related to or competes with Heart Test, ReShape Lifesciences, Inspira Technologies, Bone Biologics, Nuwellis, Tivic Health, and NanoVibronix. NeuroMetrix, Inc., a healthcare company, engages in designing, building, and marketing medical devices that stimulate an... More
NeuroMetrix 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 NeuroMetrix'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 NeuroMetrix upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.16 | |||
| Information Ratio | 0.0583 | |||
| Maximum Drawdown | 15.39 | |||
| Value At Risk | (4.75) | |||
| Potential Upside | 6.09 |
NeuroMetrix Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NeuroMetrix's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NeuroMetrix's standard deviation. In reality, there are many statistical measures that can use NeuroMetrix historical prices to predict the future NeuroMetrix's volatility.| Risk Adjusted Performance | 0.081 | |||
| Jensen Alpha | 0.3394 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | 0.0632 | |||
| Treynor Ratio | (1.80) |
NeuroMetrix Backtested Returns
NeuroMetrix appears to be not too volatile, given 3 months investment horizon. NeuroMetrix has Sharpe Ratio of 0.0598, which conveys that the firm had a 0.0598% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for NeuroMetrix, which you can use to evaluate the volatility of the firm. Please exercise NeuroMetrix's Mean Deviation of 2.64, downside deviation of 3.16, and Risk Adjusted Performance of 0.081 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NeuroMetrix holds a performance score of 4. The company secures a Beta (Market Risk) of -0.18, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NeuroMetrix are expected to decrease at a much lower rate. During the bear market, NeuroMetrix is likely to outperform the market. Please check NeuroMetrix's sortino ratio, semi variance, as well as the relationship between the Semi Variance and rate of daily change , to make a quick decision on whether NeuroMetrix's current price movements will revert.
Auto-correlation | -0.87 |
Excellent reverse predictability
NeuroMetrix has excellent reverse predictability. Overlapping area represents the amount of predictability between NeuroMetrix time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 NeuroMetrix price movement. The serial correlation of -0.87 indicates that approximately 87.0% of current NeuroMetrix price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.87 | |
| Spearman Rank Test | -0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
NeuroMetrix lagged returns against current returns
Autocorrelation, which is NeuroMetrix 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 NeuroMetrix's stock expected returns. We can calculate the autocorrelation of NeuroMetrix returns to help us make a trade decision. For example, suppose you find that NeuroMetrix 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 |
NeuroMetrix 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 NeuroMetrix stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NeuroMetrix stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NeuroMetrix stock over time.
Current vs Lagged Prices |
| Timeline |
NeuroMetrix Lagged Returns
When evaluating NeuroMetrix's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NeuroMetrix stock have on its future price. NeuroMetrix 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, NeuroMetrix autocorrelation shows the relationship between NeuroMetrix stock current value and its past values and can show if there is a momentum factor associated with investing in NeuroMetrix.
Regressed Prices |
| Timeline |
Pair Trading with NeuroMetrix
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 NeuroMetrix 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 NeuroMetrix will appreciate offsetting losses from the drop in the long position's value.Moving against NeuroMetrix Stock
The ability to find closely correlated positions to NeuroMetrix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NeuroMetrix 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 NeuroMetrix - 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 NeuroMetrix to buy it.
The correlation of NeuroMetrix 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 NeuroMetrix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NeuroMetrix 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 NeuroMetrix 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 NeuroMetrix Correlation, NeuroMetrix Volatility and NeuroMetrix Alpha and Beta module to complement your research on NeuroMetrix. To learn how to invest in NeuroMetrix Stock, please use our How to Invest in NeuroMetrix guide.You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
NeuroMetrix 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.