Onconetix Stock Market Value
| ONCO Stock | USD 0.56 0.05 8.20% |
| Symbol | Onconetix |
Onconetix Price To Book Ratio
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 Onconetix. If investors know Onconetix 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 Onconetix 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 Onconetix is measured differently than its book value, which is the value of Onconetix that is recorded on the company's balance sheet. Investors also form their own opinion of Onconetix's value that differs from its market value or its book value, called intrinsic value, which is Onconetix'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 Onconetix's market value can be influenced by many factors that don't directly affect Onconetix'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 Onconetix's value and its price as these two are different measures arrived at by different means. Investors typically determine if Onconetix is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Onconetix'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.
Onconetix '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 Onconetix'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 Onconetix.
| 09/03/2024 |
| 01/31/2025 |
If you would invest 0.00 in Onconetix on September 3, 2024 and sell it all today you would earn a total of 0.00 from holding Onconetix or generate 0.0% return on investment in Onconetix over 150 days. Onconetix is related to or competes with Belden, SunCoke Energy, American Hotel, Olympic Steel, Allegheny Technologies, and Wingstop. Oncology Med, Inc. offer full service cancer center solutions. More
Onconetix 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 Onconetix'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 Onconetix upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 57.47 | |||
| Value At Risk | (21.25) | |||
| Potential Upside | 24.62 |
Onconetix Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Onconetix's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Onconetix's standard deviation. In reality, there are many statistical measures that can use Onconetix historical prices to predict the future Onconetix's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (2.29) | |||
| Total Risk Alpha | (3.56) | |||
| Treynor Ratio | (3.36) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Onconetix'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.
Onconetix Backtested Returns
Onconetix maintains Sharpe Ratio (i.e., Efficiency) of -0.15, which implies the firm had a -0.15 % return per unit of risk over the last 3 months. Onconetix exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Onconetix's Risk Adjusted Performance of (0.14), coefficient of variation of (555.06), and Variance of 151.97 to confirm the risk estimate we provide. The company holds a Beta of 0.66, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Onconetix's returns are expected to increase less than the market. However, during the bear market, the loss of holding Onconetix is expected to be smaller as well. At this point, Onconetix has a negative expected return of -1.96%. Please make sure to check Onconetix's total risk alpha, as well as the relationship between the kurtosis and day typical price , to decide if Onconetix performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.16 |
Very weak predictability
Onconetix has very weak predictability. Overlapping area represents the amount of predictability between Onconetix time series from 3rd of September 2024 to 17th of November 2024 and 17th of November 2024 to 31st of January 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 Onconetix price movement. The serial correlation of 0.16 indicates that over 16.0% of current Onconetix price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.16 | |
| Spearman Rank Test | -0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Onconetix lagged returns against current returns
Autocorrelation, which is Onconetix 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 Onconetix's stock expected returns. We can calculate the autocorrelation of Onconetix returns to help us make a trade decision. For example, suppose you find that Onconetix 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 |
Onconetix 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 Onconetix stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Onconetix stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Onconetix stock over time.
Current vs Lagged Prices |
| Timeline |
Onconetix Lagged Returns
When evaluating Onconetix's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Onconetix stock have on its future price. Onconetix 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, Onconetix autocorrelation shows the relationship between Onconetix stock current value and its past values and can show if there is a momentum factor associated with investing in Onconetix.
Regressed Prices |
| Timeline |
Pair Trading with Onconetix
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 Onconetix 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 Onconetix will appreciate offsetting losses from the drop in the long position's value.Moving together with Onconetix Stock
Moving against Onconetix Stock
| 0.68 | BMY | Bristol Myers Squibb Earnings Call This Week | PairCorr |
| 0.53 | MLAB | Mesa Laboratories Earnings Call This Week | PairCorr |
| 0.48 | MDGL | Madrigal Pharmaceuticals | PairCorr |
| 0.41 | GILD | Gilead Sciences Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Onconetix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Onconetix 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 Onconetix - 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 Onconetix to buy it.
The correlation of Onconetix 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 Onconetix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Onconetix 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 Onconetix 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 Onconetix Correlation, Onconetix Volatility and Onconetix Alpha and Beta module to complement your research on Onconetix. To learn how to invest in Onconetix Stock, please use our How to Invest in Onconetix guide.You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Onconetix 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.