Profound Medical Corp Stock Market Value
| PRN Stock | CAD 9.83 0.17 1.70% |
| Symbol | Profound |
Profound Medical Corp Price To Book Ratio
Profound Medical '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 Profound Medical'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 Profound Medical.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Profound Medical on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Profound Medical Corp or generate 0.0% return on investment in Profound Medical over 90 days. Profound Medical is related to or competes with HLS Therapeutics, Medicenna Therapeutics, and Aptose Biosciences. Profound Medical Corp. operates as a medical technology company focuses on magnetic resonance guided ablation procedures... More
Profound Medical 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 Profound Medical'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 Profound Medical Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0) | |||
| Maximum Drawdown | 13.28 | |||
| Value At Risk | (4.24) | |||
| Potential Upside | 5.83 |
Profound Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Profound Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Profound Medical's standard deviation. In reality, there are many statistical measures that can use Profound Medical historical prices to predict the future Profound Medical's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | 0.2348 | |||
| Treynor Ratio | 0.3275 |
Profound Medical Corp Backtested Returns
Profound Medical Corp maintains Sharpe Ratio (i.e., Efficiency) of -0.0108, which implies the firm had a -0.0108 % return per unit of risk over the last 3 months. Profound Medical Corp exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Profound Medical's Variance of 8.09, risk adjusted performance of (0.03), and Coefficient Of Variation of (2,552) to confirm the risk estimate we provide. The company holds a Beta of -0.37, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Profound Medical are expected to decrease at a much lower rate. During the bear market, Profound Medical is likely to outperform the market. At this point, Profound Medical Corp has a negative expected return of -0.0317%. Please make sure to check Profound Medical's skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if Profound Medical Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.13 |
Insignificant predictability
Profound Medical Corp has insignificant predictability. Overlapping area represents the amount of predictability between Profound Medical 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 Profound Medical Corp price movement. The serial correlation of 0.13 indicates that less than 13.0% of current Profound Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.13 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.43 |
Profound Medical Corp lagged returns against current returns
Autocorrelation, which is Profound Medical 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 Profound Medical's stock expected returns. We can calculate the autocorrelation of Profound Medical returns to help us make a trade decision. For example, suppose you find that Profound Medical 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 |
Profound Medical 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 Profound Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Profound Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Profound Medical stock over time.
Current vs Lagged Prices |
| Timeline |
Profound Medical Lagged Returns
When evaluating Profound Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Profound Medical stock have on its future price. Profound Medical 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, Profound Medical autocorrelation shows the relationship between Profound Medical stock current value and its past values and can show if there is a momentum factor associated with investing in Profound Medical Corp.
Regressed Prices |
| Timeline |
Pair Trading with Profound Medical
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 Profound Medical 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 Profound Medical will appreciate offsetting losses from the drop in the long position's value.Moving against Profound Stock
The ability to find closely correlated positions to Profound Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Profound Medical 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 Profound Medical - 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 Profound Medical Corp to buy it.
The correlation of Profound Medical 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 Profound Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Profound Medical 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 Profound Medical 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 Profound Medical Correlation, Profound Medical Volatility and Profound Medical Alpha and Beta module to complement your research on Profound Medical. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Profound Medical 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.