Purple Innovation Stock Market Value
| PRPL Stock | USD 0.95 0.07 7.95% |
| Symbol | Purple |
Purple Innovation Price To Book Ratio
Is Household Appliances 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 Purple Innovation. If investors know Purple 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 Purple Innovation 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 (0.60) | Earnings Share (1.02) | Revenue Per Share 4.734 | Quarterly Revenue Growth (0.15) | Return On Assets (0.12) |
The market value of Purple Innovation is measured differently than its book value, which is the value of Purple that is recorded on the company's balance sheet. Investors also form their own opinion of Purple Innovation's value that differs from its market value or its book value, called intrinsic value, which is Purple Innovation'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 Purple Innovation's market value can be influenced by many factors that don't directly affect Purple Innovation'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 Purple Innovation's value and its price as these two are different measures arrived at by different means. Investors typically determine if Purple Innovation is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Purple Innovation'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.
Purple Innovation '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 Purple Innovation'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 Purple Innovation.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Purple Innovation on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Purple Innovation or generate 0.0% return on investment in Purple Innovation over 30 days. Purple Innovation is related to or competes with Tempur Sealy, La Z, MasterBrand, Ethan Allen, Hamilton Beach, Lifetime Brands, and Sleep Number. Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions More
Purple Innovation 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 Purple Innovation'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 Purple Innovation upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 19.53 | |||
| Value At Risk | (5.05) | |||
| Potential Upside | 5.81 |
Purple Innovation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purple Innovation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purple Innovation's standard deviation. In reality, there are many statistical measures that can use Purple Innovation historical prices to predict the future Purple Innovation's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.54) | |||
| Total Risk Alpha | (0.91) | |||
| Treynor Ratio | (0.23) |
Purple Innovation Backtested Returns
Purple Innovation maintains Sharpe Ratio (i.e., Efficiency) of -0.16, which implies the firm had a -0.16% return per unit of risk over the last 3 months. Purple Innovation exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Purple Innovation's Coefficient Of Variation of (1,024), risk adjusted performance of (0.07), and Variance of 12.35 to confirm the risk estimate we provide. The company holds a Beta of 1.51, which implies 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, Purple Innovation will likely underperform. At this point, Purple Innovation has a negative expected return of -0.54%. Please make sure to check Purple Innovation's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and price action indicator , to decide if Purple Innovation performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.05 |
Very weak reverse predictability
Purple Innovation has very weak reverse predictability. Overlapping area represents the amount of predictability between Purple Innovation time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Purple Innovation price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Purple Innovation price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Purple Innovation lagged returns against current returns
Autocorrelation, which is Purple Innovation 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 Purple Innovation's stock expected returns. We can calculate the autocorrelation of Purple Innovation returns to help us make a trade decision. For example, suppose you find that Purple Innovation 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 |
Purple Innovation 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 Purple Innovation stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purple Innovation stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purple Innovation stock over time.
Current vs Lagged Prices |
| Timeline |
Purple Innovation Lagged Returns
When evaluating Purple Innovation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purple Innovation stock have on its future price. Purple Innovation 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, Purple Innovation autocorrelation shows the relationship between Purple Innovation stock current value and its past values and can show if there is a momentum factor associated with investing in Purple Innovation.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectCheck out Purple Innovation Correlation, Purple Innovation Volatility and Purple Innovation Alpha and Beta module to complement your research on Purple Innovation. For more information on how to buy Purple Stock please use our How to buy in Purple Stock guide.You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Purple Innovation 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.