Bristol Myers Squibb Stock Market Value
| BMY Stock | USD 48.26 0.25 0.52% |
| Symbol | Bristol |
Bristol Myers Squibb Price To Book Ratio
Is Bristol Myers' industry 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 Bristol Myers. If investors know Bristol 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 Bristol Myers listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.09) | Dividend Share 2.31 | Earnings Share 3.86 | Revenue Per Share 21.753 | Quarterly Revenue Growth 0.006 |
The market value of Bristol Myers Squibb is measured differently than its book value, which is the value of Bristol that is recorded on the company's balance sheet. Investors also form their own opinion of Bristol Myers' value that differs from its market value or its book value, called intrinsic value, which is Bristol Myers' 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 Bristol Myers' market value can be influenced by many factors that don't directly affect Bristol Myers' 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 Bristol Myers' value and its price as these two are different measures arrived at by different means. Investors typically determine if Bristol Myers is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bristol Myers' 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.
Bristol Myers '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 Bristol Myers' 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 Bristol Myers.
| 10/20/2023 |
| 04/17/2024 |
If you would invest 0.00 in Bristol Myers on October 20, 2023 and sell it all today you would earn a total of 0.00 from holding Bristol Myers Squibb or generate 0.0% return on investment in Bristol Myers over 180 days. Bristol Myers is related to or competes with PetIQ, Emergent Biosolutions, Neurocrine Biosciences, and Haleon Plc. Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwi... More
Bristol Myers 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 Bristol Myers' 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 Bristol Myers Squibb upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 6.24 | |||
| Value At Risk | (2.29) | |||
| Potential Upside | 2.09 |
Bristol Myers Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bristol Myers' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bristol Myers' standard deviation. In reality, there are many statistical measures that can use Bristol Myers historical prices to predict the future Bristol Myers' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | (0.06) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Bristol Myers' 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.
Bristol Myers Squibb Backtested Returns
Bristol Myers Squibb secures Sharpe Ratio (or Efficiency) of -0.0263, which signifies that the company had a -0.0263% return per unit of risk over the last 3 months. Bristol Myers Squibb exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Bristol Myers' Risk Adjusted Performance of (0.01), mean deviation of 0.8993, and Standard Deviation of 1.22 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.74, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Bristol Myers' returns are expected to increase less than the market. However, during the bear market, the loss of holding Bristol Myers is expected to be smaller as well. Bristol Myers Squibb has an expected return of -0.0329%. Please make sure to confirm Bristol Myers Squibb value at risk, as well as the relationship between the rate of daily change and relative strength index , to decide if Bristol Myers Squibb performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.06 |
Very weak reverse predictability
Bristol Myers Squibb has very weak reverse predictability. Overlapping area represents the amount of predictability between Bristol Myers time series from 20th of October 2023 to 18th of January 2024 and 18th of January 2024 to 17th of April 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 Bristol Myers Squibb price movement. The serial correlation of -0.06 indicates that barely 6.0% of current Bristol Myers price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | -0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 2.61 |
Bristol Myers Squibb lagged returns against current returns
Autocorrelation, which is Bristol Myers 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 Bristol Myers' stock expected returns. We can calculate the autocorrelation of Bristol Myers returns to help us make a trade decision. For example, suppose you find that Bristol Myers 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 |
Bristol Myers 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 Bristol Myers stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bristol Myers stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bristol Myers stock over time.
Current vs Lagged Prices |
| Timeline |
Bristol Myers Lagged Returns
When evaluating Bristol Myers' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bristol Myers stock have on its future price. Bristol Myers 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, Bristol Myers autocorrelation shows the relationship between Bristol Myers stock current value and its past values and can show if there is a momentum factor associated with investing in Bristol Myers Squibb.
Regressed Prices |
| Timeline |
Bristol Myers Investors Sentiment
The influence of Bristol Myers' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Bristol. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Bristol Myers' public news can be used to forecast risks associated with an investment in Bristol. The trend in average sentiment can be used to explain how an investor holding Bristol can time the market purely based on public headlines and social activities around Bristol Myers Squibb. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Bristol Myers' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Bristol Myers' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Bristol Myers' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Bristol Myers.
Bristol Myers Implied Volatility | 45.59 |
Bristol Myers' implied volatility exposes the market's sentiment of Bristol Myers Squibb stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Bristol Myers' implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Bristol Myers stock will not fluctuate a lot when Bristol Myers' options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Bristol Myers in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Bristol Myers' short interest history, or implied volatility extrapolated from Bristol Myers options trading.
Pair Trading with Bristol Myers
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 Bristol Myers 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 Bristol Myers will appreciate offsetting losses from the drop in the long position's value.Moving together with Bristol Stock
| 0.77 | A | Agilent Technologies Financial Report 28th of May 2024 | PairCorr |
Moving against Bristol Stock
| 0.55 | BNR | Burning Rock BiotechLtd Financial Report 4th of June 2024 | PairCorr |
| 0.46 | VALN | Valneva SE ADR Downward Rally | PairCorr |
The ability to find closely correlated positions to Bristol Myers could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bristol Myers 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 Bristol Myers - 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 Bristol Myers Squibb to buy it.
The correlation of Bristol Myers 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 Bristol Myers moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bristol Myers Squibb 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 Bristol Myers 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 Bristol Myers Correlation, Bristol Myers Volatility and Bristol Myers Alpha and Beta module to complement your research on Bristol Myers. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Complementary Tools for Bristol Stock analysis
When running Bristol Myers' price analysis, check to measure Bristol Myers' 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 Bristol Myers is operating at the current time. Most of Bristol Myers' value examination focuses on studying past and present price action to predict the probability of Bristol Myers' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bristol Myers' price. Additionally, you may evaluate how the addition of Bristol Myers to your portfolios can decrease your overall portfolio volatility.
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Bristol Myers 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.