Third Harmonic Bio Stock Market Value
| THRD Stock | USD 12.47 1.02 8.91% |
| Symbol | Third |
Third Harmonic Bio 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 Third Harmonic. If investors know Third 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 Third Harmonic listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.97) | Return On Assets (0.11) | Return On Equity (0.14) |
The market value of Third Harmonic Bio is measured differently than its book value, which is the value of Third that is recorded on the company's balance sheet. Investors also form their own opinion of Third Harmonic's value that differs from its market value or its book value, called intrinsic value, which is Third Harmonic'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 Third Harmonic's market value can be influenced by many factors that don't directly affect Third Harmonic'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 Third Harmonic's value and its price as these two are different measures arrived at by different means. Investors typically determine if Third Harmonic is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Third Harmonic'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.
Third Harmonic '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 Third Harmonic'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 Third Harmonic.
| 12/04/2022 |
| 11/23/2024 |
If you would invest 0.00 in Third Harmonic on December 4, 2022 and sell it all today you would earn a total of 0.00 from holding Third Harmonic Bio or generate 0.0% return on investment in Third Harmonic over 720 days. Third Harmonic is related to or competes with Eliem Therapeutics, HCW Biologics, RenovoRx, Tempest Therapeutics, Scpharmaceuticals, Milestone Pharmaceuticals, and Seres Therapeutics. Third Harmonic Bio, Inc., a clinical-stage biopharmaceutical company, focuses on the development of the medicine for the... More
Third Harmonic 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 Third Harmonic'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 Third Harmonic Bio upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.03 | |||
| Information Ratio | 0.0137 | |||
| Maximum Drawdown | 25.76 | |||
| Value At Risk | (6.74) | |||
| Potential Upside | 8.91 |
Third Harmonic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Third Harmonic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Third Harmonic's standard deviation. In reality, there are many statistical measures that can use Third Harmonic historical prices to predict the future Third Harmonic's volatility.| Risk Adjusted Performance | 0.0402 | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.56) | |||
| Sortino Ratio | 0.0128 | |||
| Treynor Ratio | 0.0688 |
Third Harmonic Bio Backtested Returns
At this point, Third Harmonic is slightly risky. Third Harmonic Bio owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.009, which indicates the firm had a 0.009% return per unit of risk over the last 3 months. We have found thirty technical indicators for Third Harmonic Bio, which you can use to evaluate the volatility of the company. Please validate Third Harmonic's Semi Deviation of 4.92, risk adjusted performance of 0.0402, and Coefficient Of Variation of 2410.43 to confirm if the risk estimate we provide is consistent with the expected return of 0.0415%. The entity has a beta of 2.69, which indicates 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, Third Harmonic will likely underperform. Third Harmonic Bio right now has a risk of 4.6%. Please validate Third Harmonic sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Third Harmonic will be following its existing price patterns.
Auto-correlation | -0.04 |
Very weak reverse predictability
Third Harmonic Bio has very weak reverse predictability. Overlapping area represents the amount of predictability between Third Harmonic time series from 4th of December 2022 to 29th of November 2023 and 29th of November 2023 to 23rd 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 Third Harmonic Bio price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current Third Harmonic price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 2.74 |
Third Harmonic Bio lagged returns against current returns
Autocorrelation, which is Third Harmonic 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 Third Harmonic's stock expected returns. We can calculate the autocorrelation of Third Harmonic returns to help us make a trade decision. For example, suppose you find that Third Harmonic 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 |
Third Harmonic 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 Third Harmonic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Third Harmonic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Third Harmonic stock over time.
Current vs Lagged Prices |
| Timeline |
Third Harmonic Lagged Returns
When evaluating Third Harmonic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Third Harmonic stock have on its future price. Third Harmonic 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, Third Harmonic autocorrelation shows the relationship between Third Harmonic stock current value and its past values and can show if there is a momentum factor associated with investing in Third Harmonic Bio.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Third Harmonic Bio is a strong investment it is important to analyze Third Harmonic's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Third Harmonic's future performance. For an informed investment choice regarding Third Stock, refer to the following important reports:Check out Third Harmonic Correlation, Third Harmonic Volatility and Third Harmonic Alpha and Beta module to complement your research on Third Harmonic. You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Third Harmonic 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.