Nevro Corp Stock Market Value
| NVRO Stock | USD 4.55 0.03 0.66% |
| Symbol | Nevro |
Nevro 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 Nevro Corp. If investors know Nevro 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 Nevro Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.87) | Revenue Per Share 11.404 | Quarterly Revenue Growth (0.07) | Return On Assets (0.09) | Return On Equity (0.25) |
The market value of Nevro Corp is measured differently than its book value, which is the value of Nevro that is recorded on the company's balance sheet. Investors also form their own opinion of Nevro Corp's value that differs from its market value or its book value, called intrinsic value, which is Nevro Corp'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 Nevro Corp's market value can be influenced by many factors that don't directly affect Nevro Corp'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 Nevro Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Nevro Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nevro Corp'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.
Nevro Corp '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 Nevro Corp'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 Nevro Corp.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Nevro Corp on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Nevro Corp or generate 0.0% return on investment in Nevro Corp over 510 days. Nevro Corp is related to or competes with Integer Holdings, Glaukos Corp, CONMED, Pulmonx Corp, Iradimed, Orthofix Medical, and Neuropace. Nevro Corp., a medical device company, provides products for patients suffering from chronic pain in the United States a... More
Nevro Corp 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 Nevro Corp'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 Nevro Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 25.58 | |||
| Value At Risk | (7.61) | |||
| Potential Upside | 8.28 |
Nevro Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nevro Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nevro Corp's standard deviation. In reality, there are many statistical measures that can use Nevro Corp historical prices to predict the future Nevro Corp's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.51) | |||
| Total Risk Alpha | (1.02) | |||
| Treynor Ratio | (0.12) |
Nevro Corp Backtested Returns
Nevro Corp has Sharpe Ratio of -0.0499, which conveys that the firm had a -0.0499% return per unit of risk over the last 3 months. Nevro Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nevro Corp's Mean Deviation of 3.67, standard deviation of 4.91, and Risk Adjusted Performance of (0.03) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 2.14, 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, Nevro Corp will likely underperform. At this point, Nevro Corp has a negative expected return of -0.25%. Please make sure to verify Nevro Corp's value at risk and rate of daily change , to decide if Nevro Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.58 |
Modest predictability
Nevro Corp has modest predictability. Overlapping area represents the amount of predictability between Nevro Corp time series from 5th of July 2023 to 16th of March 2024 and 16th of March 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 Nevro Corp price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Nevro Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 9.06 |
Nevro Corp lagged returns against current returns
Autocorrelation, which is Nevro Corp 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 Nevro Corp's stock expected returns. We can calculate the autocorrelation of Nevro Corp returns to help us make a trade decision. For example, suppose you find that Nevro Corp 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 |
Nevro Corp 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 Nevro Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nevro Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nevro Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Nevro Corp Lagged Returns
When evaluating Nevro Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nevro Corp stock have on its future price. Nevro Corp 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, Nevro Corp autocorrelation shows the relationship between Nevro Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Nevro Corp.
Regressed Prices |
| Timeline |
Pair Trading with Nevro Corp
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 Nevro Corp 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 Nevro Corp will appreciate offsetting losses from the drop in the long position's value.Moving against Nevro Stock
| 0.53 | DOCS | Doximity | PairCorr |
| 0.5 | VMD | Viemed Healthcare | PairCorr |
| 0.46 | FOXO | FOXO Technologies | PairCorr |
| 0.35 | ITGR | Integer Holdings Corp | PairCorr |
The ability to find closely correlated positions to Nevro Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nevro Corp 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 Nevro Corp - 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 Nevro Corp to buy it.
The correlation of Nevro Corp 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 Nevro Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nevro 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 Nevro Corp 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 Nevro Corp Correlation, Nevro Corp Volatility and Nevro Corp Alpha and Beta module to complement your research on Nevro Corp. To learn how to invest in Nevro Stock, please use our How to Invest in Nevro Corp guide.You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Nevro Corp 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.