Alx Oncology Holdings Stock Market Value
| ALXO Stock | USD 0.83 0.13 13.54% |
| Symbol | Alx |
Alx Oncology Holdings 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 Alx Oncology. If investors know Alx 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 Alx Oncology 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 Alx Oncology Holdings is measured differently than its book value, which is the value of Alx that is recorded on the company's balance sheet. Investors also form their own opinion of Alx Oncology's value that differs from its market value or its book value, called intrinsic value, which is Alx Oncology'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 Alx Oncology's market value can be influenced by many factors that don't directly affect Alx Oncology'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 Alx Oncology's value and its price as these two are different measures arrived at by different means. Investors typically determine if Alx Oncology is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Alx Oncology'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.
Alx Oncology '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 Alx Oncology'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 Alx Oncology.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Alx Oncology on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Alx Oncology Holdings or generate 0.0% return on investment in Alx Oncology over 90 days. Alx Oncology is related to or competes with Cabaletta Bio, Eyepoint Pharmaceuticals, Biomea Fusion, Crinetics Pharmaceuticals, Immatics, Bioatla, and Aerovate Therapeutics. ALX Oncology Holdings Inc., a clinical-stage immuno-oncology company, focuses on developing therapies for patients fight... More
Alx Oncology 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 Alx Oncology'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 Alx Oncology Holdings upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 45.05 | |||
| Value At Risk | (13.54) | |||
| Potential Upside | 15.43 |
Alx Oncology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alx Oncology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alx Oncology's standard deviation. In reality, there are many statistical measures that can use Alx Oncology historical prices to predict the future Alx Oncology's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.73) | |||
| Total Risk Alpha | 0.3012 | |||
| Treynor Ratio | 2.46 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alx Oncology'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.
Alx Oncology Holdings Backtested Returns
Alx Oncology Holdings secures Sharpe Ratio (or Efficiency) of -0.12, which signifies that the company had a -0.12 % return per unit of risk over the last 3 months. Alx Oncology Holdings exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Alx Oncology's Mean Deviation of 5.87, risk adjusted performance of (0.07), and Standard Deviation of 8.02 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.29, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Alx Oncology are expected to decrease at a much lower rate. During the bear market, Alx Oncology is likely to outperform the market. At this point, Alx Oncology Holdings has a negative expected return of -0.97%. Please make sure to confirm Alx Oncology's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and market facilitation index , to decide if Alx Oncology Holdings performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.52 |
Modest predictability
Alx Oncology Holdings has modest predictability. Overlapping area represents the amount of predictability between Alx Oncology time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th of March 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 Alx Oncology Holdings price movement. The serial correlation of 0.52 indicates that about 52.0% of current Alx Oncology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Alx Oncology Holdings lagged returns against current returns
Autocorrelation, which is Alx Oncology 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 Alx Oncology's stock expected returns. We can calculate the autocorrelation of Alx Oncology returns to help us make a trade decision. For example, suppose you find that Alx Oncology 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 |
Alx Oncology 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 Alx Oncology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alx Oncology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alx Oncology stock over time.
Current vs Lagged Prices |
| Timeline |
Alx Oncology Lagged Returns
When evaluating Alx Oncology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alx Oncology stock have on its future price. Alx Oncology 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, Alx Oncology autocorrelation shows the relationship between Alx Oncology stock current value and its past values and can show if there is a momentum factor associated with investing in Alx Oncology Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Alx Oncology
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 Alx Oncology 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 Alx Oncology will appreciate offsetting losses from the drop in the long position's value.Moving together with Alx Stock
| 0.9 | ENVB | Enveric Biosciences Earnings Call This Week | PairCorr |
Moving against Alx Stock
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The ability to find closely correlated positions to Alx Oncology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alx Oncology 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 Alx Oncology - 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 Alx Oncology Holdings to buy it.
The correlation of Alx Oncology 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 Alx Oncology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alx Oncology Holdings 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 Alx Oncology 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 Alx Oncology Correlation, Alx Oncology Volatility and Alx Oncology Alpha and Beta module to complement your research on Alx Oncology. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Alx Oncology 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.