Innovative Eyewear Stock Market Value
| LUCY Stock | USD 6.51 0.37 5.38% |
| Symbol | Innovative |
Innovative Eyewear Price To Book Ratio
Is Health Care Equipment & Supplies 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 Innovative Eyewear. If investors know Innovative 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 Innovative Eyewear listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (10.10) | Revenue Per Share 1.546 | Quarterly Revenue Growth 0.143 | Return On Assets (0.53) | Return On Equity (0.87) |
The market value of Innovative Eyewear is measured differently than its book value, which is the value of Innovative that is recorded on the company's balance sheet. Investors also form their own opinion of Innovative Eyewear's value that differs from its market value or its book value, called intrinsic value, which is Innovative Eyewear'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 Innovative Eyewear's market value can be influenced by many factors that don't directly affect Innovative Eyewear'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 Innovative Eyewear's value and its price as these two are different measures arrived at by different means. Investors typically determine if Innovative Eyewear is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Innovative Eyewear'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.
Innovative Eyewear '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 Innovative Eyewear'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 Innovative Eyewear.
| 12/10/2022 |
| 11/29/2024 |
If you would invest 0.00 in Innovative Eyewear on December 10, 2022 and sell it all today you would earn a total of 0.00 from holding Innovative Eyewear or generate 0.0% return on investment in Innovative Eyewear over 720 days. Innovative Eyewear is related to or competes with Sharps Technology, JIN MEDICAL, Nexgel, GlucoTrack, Avinger, Microbot Medical, and Meihua International. Innovative Eyewear, Inc. develops and sells smart eyeglasses and sunglasses More
Innovative Eyewear 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 Innovative Eyewear'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 Innovative Eyewear upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.61 | |||
| Information Ratio | 0.1195 | |||
| Maximum Drawdown | 69.9 | |||
| Value At Risk | (10.45) | |||
| Potential Upside | 25.0 |
Innovative Eyewear Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Innovative Eyewear's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Innovative Eyewear's standard deviation. In reality, there are many statistical measures that can use Innovative Eyewear historical prices to predict the future Innovative Eyewear's volatility.| Risk Adjusted Performance | 0.1095 | |||
| Jensen Alpha | 1.19 | |||
| Total Risk Alpha | (0.23) | |||
| Sortino Ratio | 0.2021 | |||
| Treynor Ratio | 0.6478 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Innovative Eyewear'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.
Innovative Eyewear Backtested Returns
Innovative Eyewear appears to be very risky, given 3 months investment horizon. Innovative Eyewear holds Efficiency (Sharpe) Ratio of 0.11, which attests that the entity had a 0.11% return per unit of risk over the last 3 months. By evaluating Innovative Eyewear's technical indicators, you can evaluate if the expected return of 0.97% is justified by implied risk. Please utilize Innovative Eyewear's Risk Adjusted Performance of 0.1095, downside deviation of 6.61, and Market Risk Adjusted Performance of 0.6578 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Innovative Eyewear holds a performance score of 8. The company retains a Market Volatility (i.e., Beta) of 2.24, 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, Innovative Eyewear will likely underperform. Please check Innovative Eyewear's value at risk, as well as the relationship between the kurtosis and market facilitation index , to make a quick decision on whether Innovative Eyewear's current trending patterns will revert.
Auto-correlation | 0.03 |
Virtually no predictability
Innovative Eyewear has virtually no predictability. Overlapping area represents the amount of predictability between Innovative Eyewear time series from 10th of December 2022 to 5th of December 2023 and 5th of December 2023 to 29th 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 Innovative Eyewear price movement. The serial correlation of 0.03 indicates that only 3.0% of current Innovative Eyewear price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.03 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 6.53 |
Innovative Eyewear lagged returns against current returns
Autocorrelation, which is Innovative Eyewear 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 Innovative Eyewear's stock expected returns. We can calculate the autocorrelation of Innovative Eyewear returns to help us make a trade decision. For example, suppose you find that Innovative Eyewear 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 |
Innovative Eyewear 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 Innovative Eyewear stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Innovative Eyewear stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Innovative Eyewear stock over time.
Current vs Lagged Prices |
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Innovative Eyewear Lagged Returns
When evaluating Innovative Eyewear's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Innovative Eyewear stock have on its future price. Innovative Eyewear 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, Innovative Eyewear autocorrelation shows the relationship between Innovative Eyewear stock current value and its past values and can show if there is a momentum factor associated with investing in Innovative Eyewear.
Regressed Prices |
| Timeline |
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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.Additional Tools for Innovative Stock Analysis
When running Innovative Eyewear's price analysis, check to measure Innovative Eyewear'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 Innovative Eyewear is operating at the current time. Most of Innovative Eyewear's value examination focuses on studying past and present price action to predict the probability of Innovative Eyewear's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Innovative Eyewear's price. Additionally, you may evaluate how the addition of Innovative Eyewear to your portfolios can decrease your overall portfolio volatility.