Orasure Technologies Stock Market Value
| OSUR Stock | USD 3.64 0.15 3.96% |
| Symbol | OraSure |
OraSure Technologies 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 OraSure Technologies. If investors know OraSure 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 OraSure Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.296 | Earnings Share 0.15 | Revenue Per Share 3.026 | Quarterly Revenue Growth (0.55) | Return On Assets 0.0071 |
The market value of OraSure Technologies is measured differently than its book value, which is the value of OraSure that is recorded on the company's balance sheet. Investors also form their own opinion of OraSure Technologies' value that differs from its market value or its book value, called intrinsic value, which is OraSure Technologies' 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 OraSure Technologies' market value can be influenced by many factors that don't directly affect OraSure Technologies' 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 OraSure Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if OraSure Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, OraSure Technologies' 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.
OraSure Technologies '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 OraSure Technologies' 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 OraSure Technologies.
| 11/20/2024 |
| 12/20/2024 |
If you would invest 0.00 in OraSure Technologies on November 20, 2024 and sell it all today you would earn a total of 0.00 from holding OraSure Technologies or generate 0.0% return on investment in OraSure Technologies over 30 days. OraSure Technologies is related to or competes with Avita Medical, and Inogen. OraSure Technologies, Inc., together with its subsidiaries, develops, manufactures, markets, and sells oral fluid diagno... More
OraSure Technologies 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 OraSure Technologies' 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 OraSure Technologies upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 12.04 | |||
| Value At Risk | (3.51) | |||
| Potential Upside | 2.63 |
OraSure Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for OraSure Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as OraSure Technologies' standard deviation. In reality, there are many statistical measures that can use OraSure Technologies historical prices to predict the future OraSure Technologies' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (1.76) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of OraSure Technologies' 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.
OraSure Technologies Backtested Returns
OraSure Technologies maintains Sharpe Ratio (i.e., Efficiency) of -0.13, which implies the firm had a -0.13% return per unit of risk over the last 3 months. OraSure Technologies exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check OraSure Technologies' Coefficient Of Variation of (1,038), variance of 4.36, and Risk Adjusted Performance of (0.07) to confirm the risk estimate we provide. The company holds a Beta of 0.12, which implies not very significant fluctuations relative to the market. As returns on the market increase, OraSure Technologies' returns are expected to increase less than the market. However, during the bear market, the loss of holding OraSure Technologies is expected to be smaller as well. At this point, OraSure Technologies has a negative expected return of -0.28%. Please make sure to check OraSure Technologies' treynor ratio, as well as the relationship between the accumulation distribution and period momentum indicator , to decide if OraSure Technologies performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.1 |
Very weak reverse predictability
OraSure Technologies has very weak reverse predictability. Overlapping area represents the amount of predictability between OraSure Technologies time series from 20th of November 2024 to 5th of December 2024 and 5th of December 2024 to 20th of December 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 OraSure Technologies price movement. The serial correlation of -0.1 indicates that less than 10.0% of current OraSure Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
OraSure Technologies lagged returns against current returns
Autocorrelation, which is OraSure Technologies 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 OraSure Technologies' stock expected returns. We can calculate the autocorrelation of OraSure Technologies returns to help us make a trade decision. For example, suppose you find that OraSure Technologies 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 |
OraSure Technologies 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 OraSure Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if OraSure Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in OraSure Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
OraSure Technologies Lagged Returns
When evaluating OraSure Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of OraSure Technologies stock have on its future price. OraSure Technologies 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, OraSure Technologies autocorrelation shows the relationship between OraSure Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in OraSure Technologies.
Regressed Prices |
| Timeline |
Pair Trading with OraSure Technologies
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 OraSure Technologies 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 OraSure Technologies will appreciate offsetting losses from the drop in the long position's value.Moving against OraSure Stock
| 0.74 | DXCM | DexCom Inc | PairCorr |
| 0.73 | EW | Edwards Lifesciences Corp | PairCorr |
| 0.67 | VREX | Varex Imaging Corp | PairCorr |
| 0.61 | GH | Guardant Health | PairCorr |
| 0.58 | OM | Outset Medical | PairCorr |
The ability to find closely correlated positions to OraSure Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OraSure Technologies 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 OraSure Technologies - 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 OraSure Technologies to buy it.
The correlation of OraSure Technologies 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 OraSure Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OraSure Technologies 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 OraSure Technologies 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.Additional Tools for OraSure Stock Analysis
When running OraSure Technologies' price analysis, check to measure OraSure Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy OraSure Technologies is operating at the current time. Most of OraSure Technologies' value examination focuses on studying past and present price action to predict the probability of OraSure Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move OraSure Technologies' price. Additionally, you may evaluate how the addition of OraSure Technologies to your portfolios can decrease your overall portfolio volatility.