Envveno Medical Corp Stock Market Value
| NVNO Stock | USD 3.30 0.07 2.08% |
| Symbol | EnVVeno |
enVVeno Medical Corp 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 EnVVeno Medical. If investors know EnVVeno 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 EnVVeno Medical listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.29) | Return On Assets (0.37) | Return On Equity (0.59) |
The market value of enVVeno Medical Corp is measured differently than its book value, which is the value of EnVVeno that is recorded on the company's balance sheet. Investors also form their own opinion of EnVVeno Medical's value that differs from its market value or its book value, called intrinsic value, which is EnVVeno Medical'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 EnVVeno Medical's market value can be influenced by many factors that don't directly affect EnVVeno Medical'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 EnVVeno Medical's value and its price as these two are different measures arrived at by different means. Investors typically determine if EnVVeno Medical is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, EnVVeno Medical'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.
EnVVeno Medical '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 EnVVeno Medical'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 EnVVeno Medical.
| 08/23/2024 |
| 11/21/2024 |
If you would invest 0.00 in EnVVeno Medical on August 23, 2024 and sell it all today you would earn a total of 0.00 from holding enVVeno Medical Corp or generate 0.0% return on investment in EnVVeno Medical over 90 days. EnVVeno Medical is related to or competes with Neuropace, Inogen, SurModics, Pulmonx Corp, Neuroone Medical, Biomerica, and Beyond Air. enVVeno Medical Corporation, a medical device company, focuses on the development of various bioprosthetic tissue-based ... More
EnVVeno Medical 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 EnVVeno Medical'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 enVVeno Medical Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 33.2 | |||
| Value At Risk | (4.76) | |||
| Potential Upside | 4.22 |
EnVVeno Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EnVVeno Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EnVVeno Medical's standard deviation. In reality, there are many statistical measures that can use EnVVeno Medical historical prices to predict the future EnVVeno Medical's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.64) | |||
| Total Risk Alpha | (1.11) | |||
| Treynor Ratio | (0.95) |
enVVeno Medical Corp Backtested Returns
enVVeno Medical Corp secures Sharpe Ratio (or Efficiency) of -0.15, which denotes the company had a -0.15% return per unit of volatility over the last 3 months. enVVeno Medical Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EnVVeno Medical's risk adjusted performance of (0.09), and Coefficient Of Variation of (784.54) to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.62, which means possible diversification benefits within a given portfolio. As returns on the market increase, EnVVeno Medical's returns are expected to increase less than the market. However, during the bear market, the loss of holding EnVVeno Medical is expected to be smaller as well. At this point, enVVeno Medical Corp has a negative expected return of -0.68%. Please make sure to confirm EnVVeno Medical's value at risk, daily balance of power, as well as the relationship between the Daily Balance Of Power and period momentum indicator , to decide if enVVeno Medical Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.48 |
Modest reverse predictability
enVVeno Medical Corp has modest reverse predictability. Overlapping area represents the amount of predictability between EnVVeno Medical time series from 23rd of August 2024 to 7th of October 2024 and 7th of October 2024 to 21st 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 enVVeno Medical Corp price movement. The serial correlation of -0.48 indicates that about 48.0% of current EnVVeno Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
enVVeno Medical Corp lagged returns against current returns
Autocorrelation, which is EnVVeno Medical 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 EnVVeno Medical's stock expected returns. We can calculate the autocorrelation of EnVVeno Medical returns to help us make a trade decision. For example, suppose you find that EnVVeno Medical 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 |
EnVVeno Medical 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 EnVVeno Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EnVVeno Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EnVVeno Medical stock over time.
Current vs Lagged Prices |
| Timeline |
EnVVeno Medical Lagged Returns
When evaluating EnVVeno Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EnVVeno Medical stock have on its future price. EnVVeno Medical 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, EnVVeno Medical autocorrelation shows the relationship between EnVVeno Medical stock current value and its past values and can show if there is a momentum factor associated with investing in enVVeno Medical Corp.
Regressed Prices |
| Timeline |
Pair Trading with EnVVeno Medical
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 EnVVeno Medical 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 EnVVeno Medical will appreciate offsetting losses from the drop in the long position's value.Moving together with EnVVeno Stock
Moving against EnVVeno Stock
| 0.78 | VMD | Viemed Healthcare | PairCorr |
| 0.78 | WGS | GeneDx Holdings Corp | PairCorr |
| 0.74 | HIMS | Hims Hers Health Upward Rally | PairCorr |
| 0.55 | LUCY | Innovative Eyewear | PairCorr |
| 0.41 | SSY | SunLink Health Systems | PairCorr |
The ability to find closely correlated positions to EnVVeno Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EnVVeno Medical 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 EnVVeno Medical - 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 enVVeno Medical Corp to buy it.
The correlation of EnVVeno Medical 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 EnVVeno Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if enVVeno Medical Corp 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 EnVVeno Medical 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 EnVVeno Medical Correlation, EnVVeno Medical Volatility and EnVVeno Medical Alpha and Beta module to complement your research on EnVVeno Medical. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
EnVVeno Medical 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.