Renovorx Stock Market Value
| RNXT Stock | USD 1.21 0.02 1.68% |
| Symbol | RenovoRx |
RenovoRx 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 RenovoRx. If investors know RenovoRx 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 RenovoRx listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.58) | Return On Assets (0.70) | Return On Equity (1.55) |
The market value of RenovoRx is measured differently than its book value, which is the value of RenovoRx that is recorded on the company's balance sheet. Investors also form their own opinion of RenovoRx's value that differs from its market value or its book value, called intrinsic value, which is RenovoRx'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 RenovoRx's market value can be influenced by many factors that don't directly affect RenovoRx'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 RenovoRx's value and its price as these two are different measures arrived at by different means. Investors typically determine if RenovoRx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, RenovoRx'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.
RenovoRx '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 RenovoRx'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 RenovoRx.
| 10/22/2024 |
| 11/21/2024 |
If you would invest 0.00 in RenovoRx on October 22, 2024 and sell it all today you would earn a total of 0.00 from holding RenovoRx or generate 0.0% return on investment in RenovoRx over 30 days. RenovoRx is related to or competes with ZyVersa Therapeutics, Sonnet Biotherapeutics, Zura Bio, Phio Pharmaceuticals, Transcode Therapeutics, and Quoin Pharmaceuticals. RenovoRx, Inc., a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of solid t... More
RenovoRx 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 RenovoRx'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 RenovoRx upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.56 | |||
| Information Ratio | 0.0397 | |||
| Maximum Drawdown | 40.06 | |||
| Value At Risk | (6.19) | |||
| Potential Upside | 7.21 |
RenovoRx Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for RenovoRx's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as RenovoRx's standard deviation. In reality, there are many statistical measures that can use RenovoRx historical prices to predict the future RenovoRx's volatility.| Risk Adjusted Performance | 0.0529 | |||
| Jensen Alpha | 0.2297 | |||
| Total Risk Alpha | (0.28) | |||
| Sortino Ratio | 0.0432 | |||
| Treynor Ratio | 0.4565 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of RenovoRx'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.
RenovoRx Backtested Returns
RenovoRx appears to be risky, given 3 months investment horizon. RenovoRx maintains Sharpe Ratio (i.e., Efficiency) of 0.081, which implies the firm had a 0.081% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for RenovoRx, which you can use to evaluate the volatility of the company. Please evaluate RenovoRx's Semi Deviation of 3.83, risk adjusted performance of 0.0529, and Coefficient Of Variation of 1695.62 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, RenovoRx holds a performance score of 6. The company holds a Beta of 0.62, which implies possible diversification benefits within a given portfolio. As returns on the market increase, RenovoRx's returns are expected to increase less than the market. However, during the bear market, the loss of holding RenovoRx is expected to be smaller as well. Please check RenovoRx's potential upside, as well as the relationship between the accumulation distribution and period momentum indicator , to make a quick decision on whether RenovoRx's historical price patterns will revert.
Auto-correlation | 0.00 |
No correlation between past and present
RenovoRx has no correlation between past and present. Overlapping area represents the amount of predictability between RenovoRx time series from 22nd of October 2024 to 6th of November 2024 and 6th of November 2024 to 21st 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 RenovoRx price movement. The serial correlation of 0.0 indicates that just 0.0% of current RenovoRx price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
RenovoRx lagged returns against current returns
Autocorrelation, which is RenovoRx 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 RenovoRx's stock expected returns. We can calculate the autocorrelation of RenovoRx returns to help us make a trade decision. For example, suppose you find that RenovoRx 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 |
RenovoRx 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 RenovoRx stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if RenovoRx stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in RenovoRx stock over time.
Current vs Lagged Prices |
| Timeline |
RenovoRx Lagged Returns
When evaluating RenovoRx's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of RenovoRx stock have on its future price. RenovoRx 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, RenovoRx autocorrelation shows the relationship between RenovoRx stock current value and its past values and can show if there is a momentum factor associated with investing in RenovoRx.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for RenovoRx Stock Analysis
When running RenovoRx's price analysis, check to measure RenovoRx's 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 RenovoRx is operating at the current time. Most of RenovoRx's value examination focuses on studying past and present price action to predict the probability of RenovoRx's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move RenovoRx's price. Additionally, you may evaluate how the addition of RenovoRx to your portfolios can decrease your overall portfolio volatility.