Oncolytics Biotech Stock Market Value
| ONC Stock | CAD 0.91 0.01 1.11% |
| Symbol | Oncolytics |
Oncolytics Biotech Price To Book Ratio
Oncolytics Biotech '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 Oncolytics Biotech'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 Oncolytics Biotech.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Oncolytics Biotech on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Oncolytics Biotech or generate 0.0% return on investment in Oncolytics Biotech over 90 days. Oncolytics Biotech is related to or competes with Theratechnologies, and Aptose Biosciences. Oncolytics Biotech Inc., a development stage biopharmaceutical company, focuses on the discovery and development of phar... More
Oncolytics Biotech 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 Oncolytics Biotech'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 Oncolytics Biotech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 28.25 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 8.57 |
Oncolytics Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oncolytics Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oncolytics Biotech's standard deviation. In reality, there are many statistical measures that can use Oncolytics Biotech historical prices to predict the future Oncolytics Biotech's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.30) | |||
| Total Risk Alpha | 0.2262 | |||
| Treynor Ratio | (0.53) |
Oncolytics Biotech Backtested Returns
Oncolytics Biotech maintains Sharpe Ratio (i.e., Efficiency) of -0.0472, which implies the firm had a -0.0472 % return per unit of risk over the last 3 months. Oncolytics Biotech exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Oncolytics Biotech's Variance of 23.34, coefficient of variation of (1,310), and Risk Adjusted Performance of (0.06) to confirm the risk estimate we provide. The company holds a Beta of 0.72, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Oncolytics Biotech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Oncolytics Biotech is expected to be smaller as well. At this point, Oncolytics Biotech has a negative expected return of -0.24%. Please make sure to check Oncolytics Biotech's skewness, day typical price, and the relationship between the maximum drawdown and daily balance of power , to decide if Oncolytics Biotech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.79 |
Good predictability
Oncolytics Biotech has good predictability. Overlapping area represents the amount of predictability between Oncolytics Biotech 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 Oncolytics Biotech price movement. The serial correlation of 0.79 indicates that around 79.0% of current Oncolytics Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.79 | |
| Spearman Rank Test | 0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Oncolytics Biotech lagged returns against current returns
Autocorrelation, which is Oncolytics Biotech 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 Oncolytics Biotech's stock expected returns. We can calculate the autocorrelation of Oncolytics Biotech returns to help us make a trade decision. For example, suppose you find that Oncolytics Biotech 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 |
Oncolytics Biotech 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 Oncolytics Biotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oncolytics Biotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oncolytics Biotech stock over time.
Current vs Lagged Prices |
| Timeline |
Oncolytics Biotech Lagged Returns
When evaluating Oncolytics Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oncolytics Biotech stock have on its future price. Oncolytics Biotech 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, Oncolytics Biotech autocorrelation shows the relationship between Oncolytics Biotech stock current value and its past values and can show if there is a momentum factor associated with investing in Oncolytics Biotech.
Regressed Prices |
| Timeline |
Pair Trading with Oncolytics Biotech
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 Oncolytics Biotech 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 Oncolytics Biotech will appreciate offsetting losses from the drop in the long position's value.Moving against Oncolytics Stock
| 0.83 | JNJ | Johnson Johnson CDR | PairCorr |
| 0.8 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.74 | IBM | International Business | PairCorr |
The ability to find closely correlated positions to Oncolytics Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oncolytics Biotech 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 Oncolytics Biotech - 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 Oncolytics Biotech to buy it.
The correlation of Oncolytics Biotech 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 Oncolytics Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oncolytics Biotech 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 Oncolytics Biotech 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 Oncolytics Biotech Correlation, Oncolytics Biotech Volatility and Oncolytics Biotech Alpha and Beta module to complement your research on Oncolytics Biotech. To learn how to invest in Oncolytics Stock, please use our How to Invest in Oncolytics Biotech guide.You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Oncolytics Biotech 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.