Durect Stock Market Value
DRRX Stock | USD 1.34 0.07 5.51% |
Symbol | Durect |
Durect Price To Book Ratio
Is Durect's 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 Durect. If investors know Durect 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 Durect listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.53) | Revenue Per Share 0.374 | Quarterly Revenue Growth (0.85) | Return On Assets (0.43) | Return On Equity (1.49) |
The market value of Durect is measured differently than its book value, which is the value of Durect that is recorded on the company's balance sheet. Investors also form their own opinion of Durect's value that differs from its market value or its book value, called intrinsic value, which is Durect's 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 Durect's market value can be influenced by many factors that don't directly affect Durect's 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 Durect's value and its price as these two are different measures arrived at by different means. Investors typically determine if Durect is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Durect's 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.
Durect '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 Durect'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 Durect.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in Durect on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Durect or generate 0.0% return on investment in Durect over 30 days. Durect is related to or competes with Agilent Technologies, Mustang Bio, Moleculin Biotech, Seres Therapeutics, Madrigal Pharmaceuticals, Equillium, and Kineta. DURECT Corporation, a biopharmaceutical company, researches and develops medicines based on its epigenetic regulator and... More
Durect 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 Durect'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 Durect upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 5.16 | |||
Information Ratio | 0.2348 | |||
Maximum Drawdown | 33.83 | |||
Value At Risk | (7.14) | |||
Potential Upside | 13.1 |
Durect Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Durect's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Durect's standard deviation. In reality, there are many statistical measures that can use Durect historical prices to predict the future Durect's volatility.Risk Adjusted Performance | 0.1514 | |||
Jensen Alpha | 1.8 | |||
Total Risk Alpha | 0.1938 | |||
Sortino Ratio | 0.2863 | |||
Treynor Ratio | (0.98) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Durect's 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.
Durect Backtested Returns
Durect is moderately volatile given 3 months investment horizon. Durect secures Sharpe Ratio (or Efficiency) of 0.24, which denotes the company had a 0.24% return per unit of risk over the last 3 months. We were able to interpolate data for twenty-eight different technical indicators, which can help you to evaluate if expected returns of 1.55% are justified by taking the suggested risk. Use Durect Downside Deviation of 5.16, mean deviation of 4.88, and Coefficient Of Variation of 390.47 to evaluate company specific risk that cannot be diversified away. Durect holds a performance score of 18 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of -1.63, which means a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Durect are expected to decrease by larger amounts. On the other hand, during market turmoil, Durect is expected to outperform it. Use Durect value at risk, as well as the relationship between the kurtosis and price action indicator , to analyze future returns on Durect.
Auto-correlation | 0.20 |
Weak predictability
Durect has weak predictability. Overlapping area represents the amount of predictability between Durect time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 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 Durect price movement. The serial correlation of 0.2 indicates that over 20.0% of current Durect price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.2 | |
Spearman Rank Test | -0.12 | |
Residual Average | 0.0 | |
Price Variance | 0.01 |
Durect lagged returns against current returns
Autocorrelation, which is Durect 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 Durect's stock expected returns. We can calculate the autocorrelation of Durect returns to help us make a trade decision. For example, suppose you find that Durect 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 |
Durect 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 Durect stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Durect stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Durect stock over time.
Current vs Lagged Prices |
Timeline |
Durect Lagged Returns
When evaluating Durect's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Durect stock have on its future price. Durect 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, Durect autocorrelation shows the relationship between Durect stock current value and its past values and can show if there is a momentum factor associated with investing in Durect.
Regressed Prices |
Timeline |
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 Durect 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, Durect's short interest history, or implied volatility extrapolated from Durect options trading.
Pair Trading with Durect
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 Durect 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 Durect will appreciate offsetting losses from the drop in the long position's value.Moving together with Durect Stock
0.85 | EQ | Equillium Financial Report 9th of May 2024 | PairCorr |
Moving against Durect Stock
0.9 | MEIP | MEI Pharma Financial Report 9th of May 2024 | PairCorr |
0.88 | MCRB | Seres Therapeutics Financial Report 14th of May 2024 | PairCorr |
0.87 | KA | Kineta Inc Report 29th of March 2024 | PairCorr |
0.83 | DBVT | DBV Technologies Financial Report 2nd of May 2024 | PairCorr |
0.8 | VALN | Valneva SE ADR Financial Report 2nd of May 2024 | PairCorr |
The ability to find closely correlated positions to Durect could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Durect 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 Durect - 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 Durect to buy it.
The correlation of Durect 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 Durect moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Durect 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 Durect 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 Durect Correlation, Durect Volatility and Durect Alpha and Beta module to complement your research on Durect. For more information on how to buy Durect Stock please use our How to Invest in Durect guide.You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Complementary Tools for Durect Stock analysis
When running Durect's price analysis, check to measure Durect'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 Durect is operating at the current time. Most of Durect's value examination focuses on studying past and present price action to predict the probability of Durect's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Durect's price. Additionally, you may evaluate how the addition of Durect to your portfolios can decrease your overall portfolio volatility.
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Durect 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.