Novabay Pharmaceuticals Stock Volatility Indicators True Range
| NBY Stock | USD 0.56 0.03 5.66% |
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The output start index for this execution was one with a total number of output elements of sixty. The True Range is a measure of NovaBay Pharmaceuticals volatility developed by Welles Wilder.
NovaBay Pharmaceuticals Technical Analysis Modules
Most technical analysis of NovaBay Pharmaceuticals help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for NovaBay from various momentum indicators to cycle indicators. When you analyze NovaBay charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About NovaBay Pharmaceuticals Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of NovaBay Pharmaceuticals. We use our internally-developed statistical techniques to arrive at the intrinsic value of NovaBay Pharmaceuticals based on widely used predictive technical indicators. In general, we focus on analyzing NovaBay Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build NovaBay Pharmaceuticals's daily price indicators and compare them against related drivers, such as volatility indicators and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of NovaBay Pharmaceuticals's intrinsic value. In addition to deriving basic predictive indicators for NovaBay Pharmaceuticals, we also check how macroeconomic factors affect NovaBay Pharmaceuticals price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
| 2021 | 2022 | 2023 | 2024 (projected) | Days Sales Outstanding | 72.3 | 50.0 | 18.81 | 17.87 | PTB Ratio | 1.43 | 0.19 | 0.26 | 0.25 |
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NovaBay Pharmaceuticals pair trading
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 NovaBay Pharmaceuticals 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 NovaBay Pharmaceuticals will appreciate offsetting losses from the drop in the long position's value.NovaBay Pharmaceuticals Pair Trading
NovaBay Pharmaceuticals Pair Trading Analysis
The ability to find closely correlated positions to NovaBay Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NovaBay Pharmaceuticals 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 NovaBay Pharmaceuticals - 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 NovaBay Pharmaceuticals to buy it.
The correlation of NovaBay Pharmaceuticals 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 NovaBay Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NovaBay Pharmaceuticals 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 NovaBay Pharmaceuticals 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.Additional Tools for NovaBay Stock Analysis
When running NovaBay Pharmaceuticals' price analysis, check to measure NovaBay Pharmaceuticals' 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 NovaBay Pharmaceuticals is operating at the current time. Most of NovaBay Pharmaceuticals' value examination focuses on studying past and present price action to predict the probability of NovaBay Pharmaceuticals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NovaBay Pharmaceuticals' price. Additionally, you may evaluate how the addition of NovaBay Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.