Exact Sciences Stock Market Value
EXAS Stock | USD 66.88 1.64 2.51% |
Symbol | EXACT |
EXACT Sciences Price To Book Ratio
Is EXACT Sciences' 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 EXACT Sciences. If investors know EXACT 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 EXACT Sciences listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.13) | Revenue Per Share 13.876 | Quarterly Revenue Growth 0.17 | Return On Assets (0.03) | Return On Equity (0.07) |
The market value of EXACT Sciences is measured differently than its book value, which is the value of EXACT that is recorded on the company's balance sheet. Investors also form their own opinion of EXACT Sciences' value that differs from its market value or its book value, called intrinsic value, which is EXACT Sciences' 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 EXACT Sciences' market value can be influenced by many factors that don't directly affect EXACT Sciences' 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 EXACT Sciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if EXACT Sciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, EXACT Sciences' 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.
EXACT Sciences '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 EXACT Sciences' 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 EXACT Sciences.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in EXACT Sciences on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding EXACT Sciences or generate 0.0% return on investment in EXACT Sciences over 30 days. EXACT Sciences is related to or competes with Agilent Technologies, Moleculin Biotech, Seres Therapeutics, Equillium, Kineta, and Mediwound. Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and international... More
EXACT Sciences 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 EXACT Sciences' 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 EXACT Sciences upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.07) | |||
Maximum Drawdown | 13.4 | |||
Value At Risk | (4.25) | |||
Potential Upside | 4.01 |
EXACT Sciences Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EXACT Sciences' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EXACT Sciences' standard deviation. In reality, there are many statistical measures that can use EXACT Sciences historical prices to predict the future EXACT Sciences' volatility.Risk Adjusted Performance | (0.01) | |||
Jensen Alpha | (0.27) | |||
Total Risk Alpha | (0.68) | |||
Treynor Ratio | (0.05) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of EXACT Sciences' 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.
EXACT Sciences Backtested Returns
EXACT Sciences retains Efficiency (Sharpe Ratio) of -0.0466, which denotes the company had a -0.0466% return per unit of risk over the last 3 months. EXACT Sciences exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EXACT Sciences' Market Risk Adjusted Performance of (0.04), variance of 7.34, and Standard Deviation of 2.71 to check the risk estimate we provide. The firm owns a Beta (Systematic Risk) of 1.56, which means 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, EXACT Sciences will likely underperform. EXACT Sciences has an expected return of -0.13%. Please make sure to confirm EXACT Sciences potential upside, and the relationship between the jensen alpha and rate of daily change , to decide if EXACT Sciences performance from the past will be repeated in the future.
Auto-correlation | 0.61 |
Good predictability
EXACT Sciences has good predictability. Overlapping area represents the amount of predictability between EXACT Sciences 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 EXACT Sciences price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current EXACT Sciences price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.61 | |
Spearman Rank Test | 0.68 | |
Residual Average | 0.0 | |
Price Variance | 7.17 |
EXACT Sciences lagged returns against current returns
Autocorrelation, which is EXACT Sciences 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 EXACT Sciences' stock expected returns. We can calculate the autocorrelation of EXACT Sciences returns to help us make a trade decision. For example, suppose you find that EXACT Sciences 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 |
EXACT Sciences 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 EXACT Sciences stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EXACT Sciences stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EXACT Sciences stock over time.
Current vs Lagged Prices |
Timeline |
EXACT Sciences Lagged Returns
When evaluating EXACT Sciences' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EXACT Sciences stock have on its future price. EXACT Sciences 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, EXACT Sciences autocorrelation shows the relationship between EXACT Sciences stock current value and its past values and can show if there is a momentum factor associated with investing in EXACT Sciences.
Regressed Prices |
Timeline |
EXACT Sciences Investors Sentiment
The influence of EXACT Sciences' 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 EXACT. 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 EXACT Sciences' public news can be used to forecast risks associated with an investment in EXACT. The trend in average sentiment can be used to explain how an investor holding EXACT can time the market purely based on public headlines and social activities around EXACT Sciences. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
EXACT Sciences' 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 EXACT Sciences' 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 EXACT Sciences' news discussions. The higher the estimated score, the more favorable is the investor's outlook on EXACT Sciences.
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 EXACT Sciences 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, EXACT Sciences' short interest history, or implied volatility extrapolated from EXACT Sciences options trading.
Pair Trading with EXACT Sciences
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 EXACT Sciences 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 EXACT Sciences will appreciate offsetting losses from the drop in the long position's value.Moving together with EXACT Stock
0.63 | MCRB | Seres Therapeutics Financial Report 14th of May 2024 | PairCorr |
Moving against EXACT Stock
0.86 | MGNX | MacroGenics Financial Report 14th of May 2024 | PairCorr |
0.81 | MRK | Merck Company Fiscal Quarter End 31st of March 2024 | PairCorr |
0.79 | DNTH | Dianthus Therapeutics Symbol Change | PairCorr |
0.75 | EQ | Equillium Financial Report 9th of May 2024 | PairCorr |
0.7 | MDWD | Mediwound Financial Report 4th of June 2024 | PairCorr |
The ability to find closely correlated positions to EXACT Sciences could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EXACT Sciences 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 EXACT Sciences - 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 EXACT Sciences to buy it.
The correlation of EXACT Sciences 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 EXACT Sciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EXACT Sciences 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 EXACT Sciences 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 EXACT Sciences Correlation, EXACT Sciences Volatility and EXACT Sciences Alpha and Beta module to complement your research on EXACT Sciences. For more information on how to buy EXACT Stock please use our How to Invest in EXACT Sciences guide.Note that the EXACT Sciences information on this page should be used as a complementary analysis to other EXACT Sciences' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Complementary Tools for EXACT Stock analysis
When running EXACT Sciences' price analysis, check to measure EXACT Sciences' 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 EXACT Sciences is operating at the current time. Most of EXACT Sciences' value examination focuses on studying past and present price action to predict the probability of EXACT Sciences' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EXACT Sciences' price. Additionally, you may evaluate how the addition of EXACT Sciences to your portfolios can decrease your overall portfolio volatility.
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EXACT Sciences 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.