Therma Bright Stock Market Value
| THRM Stock | CAD 0.03 0 8.33% |
| Symbol | Therma |
Therma Bright Price To Book Ratio
Therma Bright '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 Therma Bright'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 Therma Bright.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in Therma Bright on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding Therma Bright or generate 0.0% return on investment in Therma Bright over 360 days. Therma Bright Inc. develops and markets thermal therapy technology that provides topical relief to skin irritations resu... More
Therma Bright 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 Therma Bright'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 Therma Bright upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 41.67 | |||
| Value At Risk | (15.38) | |||
| Potential Upside | 18.18 |
Therma Bright Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Therma Bright's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Therma Bright's standard deviation. In reality, there are many statistical measures that can use Therma Bright historical prices to predict the future Therma Bright's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (1.46) | |||
| Total Risk Alpha | (2.65) | |||
| Treynor Ratio | (0.39) |
Therma Bright Backtested Returns
Therma Bright owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.11, which indicates the firm had a -0.11% return per unit of risk over the last 3 months. Therma Bright exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Therma Bright's Variance of 86.39, coefficient of variation of (854.10), and Risk Adjusted Performance of (0.08) to confirm the risk estimate we provide. The entity has a beta of 2.83, which indicates 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, Therma Bright will likely underperform. At this point, Therma Bright has a negative expected return of -1.02%. Please make sure to validate Therma Bright's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Therma Bright performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.26 |
Weak reverse predictability
Therma Bright has weak reverse predictability. Overlapping area represents the amount of predictability between Therma Bright time series from 8th of December 2023 to 5th of June 2024 and 5th of June 2024 to 2nd 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 Therma Bright price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Therma Bright price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Therma Bright lagged returns against current returns
Autocorrelation, which is Therma Bright 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 Therma Bright's stock expected returns. We can calculate the autocorrelation of Therma Bright returns to help us make a trade decision. For example, suppose you find that Therma Bright 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 |
Therma Bright 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 Therma Bright stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Therma Bright stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Therma Bright stock over time.
Current vs Lagged Prices |
| Timeline |
Therma Bright Lagged Returns
When evaluating Therma Bright's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Therma Bright stock have on its future price. Therma Bright 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, Therma Bright autocorrelation shows the relationship between Therma Bright stock current value and its past values and can show if there is a momentum factor associated with investing in Therma Bright.
Regressed Prices |
| Timeline |
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Additional Tools for Therma Stock Analysis
When running Therma Bright's price analysis, check to measure Therma Bright'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 Therma Bright is operating at the current time. Most of Therma Bright's value examination focuses on studying past and present price action to predict the probability of Therma Bright's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Therma Bright's price. Additionally, you may evaluate how the addition of Therma Bright to your portfolios can decrease your overall portfolio volatility.