Helix Biopharma Corp Stock Market Value
| HBP Stock | CAD 0.87 0.07 7.45% |
| Symbol | Helix |
Helix BioPharma Corp Price To Book Ratio
Helix BioPharma '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 Helix BioPharma'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 Helix BioPharma.
| 12/17/2023 |
| 12/11/2024 |
If you would invest 0.00 in Helix BioPharma on December 17, 2023 and sell it all today you would earn a total of 0.00 from holding Helix BioPharma Corp or generate 0.0% return on investment in Helix BioPharma over 360 days. Helix BioPharma is related to or competes with Premium Income, E L, Fairfax Financial, Fairfax Fin, Fairfax Financial, Fairfax Financial, and Fairfax Financial. Helix BioPharma Corp., an immune-oncology company, focuses on the development of cancer drugs in Canada More
Helix BioPharma 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 Helix BioPharma'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 Helix BioPharma Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 47.8 | |||
| Value At Risk | (10.62) | |||
| Potential Upside | 9.35 |
Helix BioPharma Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Helix BioPharma's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Helix BioPharma's standard deviation. In reality, there are many statistical measures that can use Helix BioPharma historical prices to predict the future Helix BioPharma's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.77) | |||
| Total Risk Alpha | (1.52) | |||
| Treynor Ratio | (0.04) |
Helix BioPharma Corp Backtested Returns
Helix BioPharma Corp holds Efficiency (Sharpe) Ratio of -0.0306, which attests that the entity had a -0.0306% return per unit of risk over the last 3 months. Helix BioPharma Corp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Helix BioPharma's Risk Adjusted Performance of (0.01), market risk adjusted performance of (0.03), and Standard Deviation of 8.22 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 4.87, which attests to 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, Helix BioPharma will likely underperform. At this point, Helix BioPharma Corp has a negative expected return of -0.25%. Please make sure to check out Helix BioPharma's maximum drawdown, as well as the relationship between the daily balance of power and price action indicator , to decide if Helix BioPharma Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.47 |
Modest reverse predictability
Helix BioPharma Corp has modest reverse predictability. Overlapping area represents the amount of predictability between Helix BioPharma time series from 17th of December 2023 to 14th of June 2024 and 14th of June 2024 to 11th of December 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 Helix BioPharma Corp price movement. The serial correlation of -0.47 indicates that about 47.0% of current Helix BioPharma price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.47 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Helix BioPharma Corp lagged returns against current returns
Autocorrelation, which is Helix BioPharma 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 Helix BioPharma's stock expected returns. We can calculate the autocorrelation of Helix BioPharma returns to help us make a trade decision. For example, suppose you find that Helix BioPharma 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 |
Helix BioPharma 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 Helix BioPharma stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Helix BioPharma stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Helix BioPharma stock over time.
Current vs Lagged Prices |
| Timeline |
Helix BioPharma Lagged Returns
When evaluating Helix BioPharma's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Helix BioPharma stock have on its future price. Helix BioPharma 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, Helix BioPharma autocorrelation shows the relationship between Helix BioPharma stock current value and its past values and can show if there is a momentum factor associated with investing in Helix BioPharma Corp.
Regressed Prices |
| Timeline |
Pair Trading with Helix BioPharma
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 Helix BioPharma 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 Helix BioPharma will appreciate offsetting losses from the drop in the long position's value.Moving against Helix Stock
| 0.79 | RY-PM | Royal Bank | PairCorr |
| 0.74 | RY-PS | Royal Bank | PairCorr |
| 0.73 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.67 | BNS | Bank of Nova Scotia | PairCorr |
| 0.67 | TD-PFD | Toronto Dominion Bank | PairCorr |
The ability to find closely correlated positions to Helix BioPharma could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Helix BioPharma 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 Helix BioPharma - 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 Helix BioPharma Corp to buy it.
The correlation of Helix BioPharma 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 Helix BioPharma moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Helix BioPharma Corp 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 Helix BioPharma 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.Other Information on Investing in Helix Stock
Helix BioPharma financial ratios help investors to determine whether Helix Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Helix with respect to the benefits of owning Helix BioPharma security.