23andme Holding Co Stock Market Value
| ME Stock | USD 3.14 0.02 0.63% |
| Symbol | 23Andme |
23Andme Holding 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 23Andme Holding. If investors know 23Andme 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 23Andme Holding listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (122.52) | Revenue Per Share 8.224 | Quarterly Revenue Growth (0.34) | Return On Assets (0.26) | Return On Equity (1.54) |
The market value of 23Andme Holding is measured differently than its book value, which is the value of 23Andme that is recorded on the company's balance sheet. Investors also form their own opinion of 23Andme Holding's value that differs from its market value or its book value, called intrinsic value, which is 23Andme Holding'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 23Andme Holding's market value can be influenced by many factors that don't directly affect 23Andme Holding'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 23Andme Holding's value and its price as these two are different measures arrived at by different means. Investors typically determine if 23Andme Holding is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, 23Andme Holding'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.
23Andme Holding '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 23Andme Holding'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 23Andme Holding.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in 23Andme Holding on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding 23Andme Holding Co or generate 0.0% return on investment in 23Andme Holding over 180 days. 23Andme Holding is related to or competes with IDEXX Laboratories, Twist Bioscience, Guardant Health, Agilent Technologies, Thermo Fisher, Danaher, and Genetic Technologies. 23andMe Holding Co. operates as a consumer genetics testing company More
23Andme Holding 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 23Andme Holding'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 23Andme Holding Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 42.26 | |||
| Value At Risk | (9.77) | |||
| Potential Upside | 6.19 |
23Andme Holding Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 23Andme Holding's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 23Andme Holding's standard deviation. In reality, there are many statistical measures that can use 23Andme Holding historical prices to predict the future 23Andme Holding's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.95) | |||
| Total Risk Alpha | (1.86) | |||
| Treynor Ratio | (1.46) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of 23Andme Holding'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.
23Andme Holding Backtested Returns
23Andme Holding retains Efficiency (Sharpe Ratio) of -0.13, which signifies that the company had a -0.13% return per unit of price deviation over the last 3 months. 23Andme Holding exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm 23Andme Holding's Variance of 42.48, market risk adjusted performance of (1.45), and Information Ratio of (0.15) to double-check the risk estimate we provide. The firm owns a Beta (Systematic Risk) of 0.6, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, 23Andme Holding's returns are expected to increase less than the market. However, during the bear market, the loss of holding 23Andme Holding is expected to be smaller as well. At this point, 23Andme Holding has a negative expected return of -0.86%. Please make sure to confirm 23Andme Holding's value at risk, and the relationship between the jensen alpha and accumulation distribution , to decide if 23Andme Holding performance from the past will be repeated sooner or later.
Auto-correlation | 0.64 |
Good predictability
23Andme Holding Co has good predictability. Overlapping area represents the amount of predictability between 23Andme Holding time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th 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 23Andme Holding price movement. The serial correlation of 0.64 indicates that roughly 64.0% of current 23Andme Holding price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.64 | |
| Spearman Rank Test | 0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 1.59 |
23Andme Holding lagged returns against current returns
Autocorrelation, which is 23Andme Holding 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 23Andme Holding's stock expected returns. We can calculate the autocorrelation of 23Andme Holding returns to help us make a trade decision. For example, suppose you find that 23Andme Holding 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 |
23Andme Holding 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 23Andme Holding stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 23Andme Holding stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 23Andme Holding stock over time.
Current vs Lagged Prices |
| Timeline |
23Andme Holding Lagged Returns
When evaluating 23Andme Holding's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 23Andme Holding stock have on its future price. 23Andme Holding 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, 23Andme Holding autocorrelation shows the relationship between 23Andme Holding stock current value and its past values and can show if there is a momentum factor associated with investing in 23Andme Holding Co.
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.Check out 23Andme Holding Correlation, 23Andme Holding Volatility and 23Andme Holding Alpha and Beta module to complement your research on 23Andme Holding. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
23Andme Holding 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.