Promis Neurosciences Stock Market Value
| PMN Stock | USD 0.89 0.01 1.14% |
| Symbol | ProMIS |
Is Pharmaceutical Products 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 ProMIS Neurosciences. If investors know ProMIS 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 ProMIS Neurosciences 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 ProMIS Neurosciences is measured differently than its book value, which is the value of ProMIS that is recorded on the company's balance sheet. Investors also form their own opinion of ProMIS Neurosciences' value that differs from its market value or its book value, called intrinsic value, which is ProMIS Neurosciences' 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 ProMIS Neurosciences' market value can be influenced by many factors that don't directly affect ProMIS Neurosciences' 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 ProMIS Neurosciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if ProMIS Neurosciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProMIS Neurosciences' 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.
ProMIS Neurosciences '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 ProMIS Neurosciences' 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 ProMIS Neurosciences.
| 11/02/2024 |
| 01/31/2025 |
If you would invest 0.00 in ProMIS Neurosciences on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding ProMIS Neurosciences or generate 0.0% return on investment in ProMIS Neurosciences over 90 days. ProMIS Neurosciences is related to or competes with Hemogenyx Pharmaceuticals, Fennec Pharmaceuticals, Gain Therapeutics, Biovie, In8bio, NewAmsterdam Pharma, and Cue Biopharma. ProMIS Neurosciences, Inc. discovers and develops precision medicine solutions for the treatment of neurodegenerative di... More
ProMIS Neurosciences 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 ProMIS Neurosciences' 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 ProMIS Neurosciences upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 17.97 | |||
| Value At Risk | (6.06) | |||
| Potential Upside | 7.69 |
ProMIS Neurosciences Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProMIS Neurosciences' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProMIS Neurosciences' standard deviation. In reality, there are many statistical measures that can use ProMIS Neurosciences historical prices to predict the future ProMIS Neurosciences' volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | 4.48 |
ProMIS Neurosciences Backtested Returns
ProMIS Neurosciences maintains Sharpe Ratio (i.e., Efficiency) of -0.0623, which implies the firm had a -0.0623 % return per unit of risk over the last 3 months. ProMIS Neurosciences exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check ProMIS Neurosciences' Variance of 15.99, risk adjusted performance of (0.04), and Coefficient Of Variation of (1,605) to confirm the risk estimate we provide. The company holds a Beta of -0.0578, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning ProMIS Neurosciences are expected to decrease at a much lower rate. During the bear market, ProMIS Neurosciences is likely to outperform the market. At this point, ProMIS Neurosciences has a negative expected return of -0.25%. Please make sure to check ProMIS Neurosciences' treynor ratio, kurtosis, as well as the relationship between the Kurtosis and day typical price , to decide if ProMIS Neurosciences performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.02 |
Very weak reverse predictability
ProMIS Neurosciences has very weak reverse predictability. Overlapping area represents the amount of predictability between ProMIS Neurosciences time series from 2nd of November 2024 to 17th of December 2024 and 17th of December 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 ProMIS Neurosciences price movement. The serial correlation of -0.02 indicates that only 2.0% of current ProMIS Neurosciences price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
ProMIS Neurosciences lagged returns against current returns
Autocorrelation, which is ProMIS Neurosciences 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 ProMIS Neurosciences' stock expected returns. We can calculate the autocorrelation of ProMIS Neurosciences returns to help us make a trade decision. For example, suppose you find that ProMIS Neurosciences 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 |
ProMIS Neurosciences 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 ProMIS Neurosciences stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProMIS Neurosciences stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProMIS Neurosciences stock over time.
Current vs Lagged Prices |
| Timeline |
ProMIS Neurosciences Lagged Returns
When evaluating ProMIS Neurosciences' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProMIS Neurosciences stock have on its future price. ProMIS Neurosciences 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, ProMIS Neurosciences autocorrelation shows the relationship between ProMIS Neurosciences stock current value and its past values and can show if there is a momentum factor associated with investing in ProMIS Neurosciences.
Regressed Prices |
| Timeline |
Pair Trading with ProMIS Neurosciences
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 ProMIS Neurosciences 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 ProMIS Neurosciences will appreciate offsetting losses from the drop in the long position's value.Moving together with ProMIS Stock
Moving against ProMIS Stock
The ability to find closely correlated positions to ProMIS Neurosciences could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProMIS Neurosciences 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 ProMIS Neurosciences - 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 ProMIS Neurosciences to buy it.
The correlation of ProMIS Neurosciences 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 ProMIS Neurosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProMIS Neurosciences 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 ProMIS Neurosciences 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 ProMIS Neurosciences Correlation, ProMIS Neurosciences Volatility and ProMIS Neurosciences Alpha and Beta module to complement your research on ProMIS Neurosciences. To learn how to invest in ProMIS Stock, please use our How to Invest in ProMIS Neurosciences guide.You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
ProMIS Neurosciences 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.