Theratechnologies Stock Market Value
| TH Stock | CAD 1.68 0.06 3.45% |
| Symbol | Theratechnologies |
Theratechnologies Price To Book Ratio
Theratechnologies '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 Theratechnologies' 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 Theratechnologies.
| 10/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Theratechnologies on October 4, 2023 and sell it all today you would earn a total of 0.00 from holding Theratechnologies or generate 0.0% return on investment in Theratechnologies over 420 days. Theratechnologies is related to or competes with Quipt Home, Rogers Communications, Data Communications, Stampede Drilling, Profound Medical, Arbor Metals, and Advent Wireless. Theratechnologies Inc., a biopharmaceutical company, markets prescription products in the United States, Europe, and Can... More
Theratechnologies 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 Theratechnologies' 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 Theratechnologies upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.4 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 23.89 | |||
| Value At Risk | (4.05) | |||
| Potential Upside | 4.89 |
Theratechnologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Theratechnologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Theratechnologies' standard deviation. In reality, there are many statistical measures that can use Theratechnologies historical prices to predict the future Theratechnologies' volatility.| Risk Adjusted Performance | 0.0123 | |||
| Jensen Alpha | 0.0307 | |||
| Total Risk Alpha | (0.51) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | (0.06) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Theratechnologies' 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.
Theratechnologies Backtested Returns
As of now, Theratechnologies Stock is very risky. Theratechnologies owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0115, which indicates the firm had a 0.0115% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Theratechnologies, which you can use to evaluate the volatility of the company. Please validate Theratechnologies' Coefficient Of Variation of 16385.27, semi deviation of 3.17, and Risk Adjusted Performance of 0.0123 to confirm if the risk estimate we provide is consistent with the expected return of 0.0388%. The entity has a beta of -0.17, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Theratechnologies are expected to decrease at a much lower rate. During the bear market, Theratechnologies is likely to outperform the market. Theratechnologies right now has a risk of 3.38%. Please validate Theratechnologies potential upside, and the relationship between the total risk alpha and kurtosis , to decide if Theratechnologies will be following its existing price patterns.
Auto-correlation | 0.31 |
Below average predictability
Theratechnologies has below average predictability. Overlapping area represents the amount of predictability between Theratechnologies time series from 4th of October 2023 to 1st of May 2024 and 1st of May 2024 to 27th 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 Theratechnologies price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Theratechnologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Theratechnologies lagged returns against current returns
Autocorrelation, which is Theratechnologies 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 Theratechnologies' stock expected returns. We can calculate the autocorrelation of Theratechnologies returns to help us make a trade decision. For example, suppose you find that Theratechnologies 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 |
Theratechnologies 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 Theratechnologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Theratechnologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Theratechnologies stock over time.
Current vs Lagged Prices |
| Timeline |
Theratechnologies Lagged Returns
When evaluating Theratechnologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Theratechnologies stock have on its future price. Theratechnologies 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, Theratechnologies autocorrelation shows the relationship between Theratechnologies stock current value and its past values and can show if there is a momentum factor associated with investing in Theratechnologies.
Regressed Prices |
| Timeline |
Pair Trading with Theratechnologies
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 Theratechnologies 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 Theratechnologies will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Theratechnologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Theratechnologies 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 Theratechnologies - 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 Theratechnologies to buy it.
The correlation of Theratechnologies 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 Theratechnologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Theratechnologies 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 Theratechnologies 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 Theratechnologies Correlation, Theratechnologies Volatility and Theratechnologies Alpha and Beta module to complement your research on Theratechnologies. To learn how to invest in Theratechnologies Stock, please use our How to Invest in Theratechnologies guide.You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Theratechnologies 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.