Castle Biosciences Stock Market Value
| CSTL Stock | USD 32.26 0.39 1.22% |
| Symbol | Castle |
Castle Biosciences Price To Book Ratio
Is Biotechnology space 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 Castle Biosciences. If investors know Castle 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 Castle Biosciences 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 (0.93) | Earnings Share (0.12) | Revenue Per Share 10.554 | Quarterly Revenue Growth 0.735 | Return On Assets (0.02) |
The market value of Castle Biosciences is measured differently than its book value, which is the value of Castle that is recorded on the company's balance sheet. Investors also form their own opinion of Castle Biosciences' value that differs from its market value or its book value, called intrinsic value, which is Castle Biosciences' 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 Castle Biosciences' market value can be influenced by many factors that don't directly affect Castle Biosciences' 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 Castle Biosciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if Castle Biosciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Castle Biosciences' 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.
Castle Biosciences '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 Castle Biosciences' 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 Castle Biosciences.
| 07/25/2024 |
| 10/23/2024 |
If you would invest 0.00 in Castle Biosciences on July 25, 2024 and sell it all today you would earn a total of 0.00 from holding Castle Biosciences or generate 0.0% return on investment in Castle Biosciences over 90 days. Castle Biosciences is related to or competes with Caredx, Twist Bioscience, Biodesix, Natera, Fonar, Exagen, and Personalis. Castle Biosciences, Inc., a commercial-stage diagnostics company, focuses to provide diagnostic and prognostic testing s... More
Castle Biosciences 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 Castle Biosciences' 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 Castle Biosciences upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.37 | |||
| Information Ratio | 0.1842 | |||
| Maximum Drawdown | 18.73 | |||
| Value At Risk | (3.63) | |||
| Potential Upside | 9.06 |
Castle Biosciences Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Castle Biosciences' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Castle Biosciences' standard deviation. In reality, there are many statistical measures that can use Castle Biosciences historical prices to predict the future Castle Biosciences' volatility.| Risk Adjusted Performance | 0.1718 | |||
| Jensen Alpha | 0.6209 | |||
| Total Risk Alpha | 0.3808 | |||
| Sortino Ratio | 0.3003 | |||
| Treynor Ratio | 0.3846 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Castle Biosciences' 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.
Castle Biosciences Backtested Returns
Castle Biosciences appears to be very steady, given 3 months investment horizon. Castle Biosciences secures Sharpe Ratio (or Efficiency) of 0.23, which signifies that the company had a 0.23% return per unit of risk over the last 3 months. By analyzing Castle Biosciences' technical indicators, you can evaluate if the expected return of 0.89% is justified by implied risk. Please makes use of Castle Biosciences' Mean Deviation of 2.93, downside deviation of 2.37, and Risk Adjusted Performance of 0.1718 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Castle Biosciences holds a performance score of 17. The firm shows a Beta (market volatility) of 2.07, which signifies 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, Castle Biosciences will likely underperform. Please check Castle Biosciences' value at risk, as well as the relationship between the skewness and day median price , to make a quick decision on whether Castle Biosciences' price patterns will revert.
Auto-correlation | 0.21 |
Weak predictability
Castle Biosciences has weak predictability. Overlapping area represents the amount of predictability between Castle Biosciences time series from 25th of July 2024 to 8th of September 2024 and 8th of September 2024 to 23rd of October 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 Castle Biosciences price movement. The serial correlation of 0.21 indicates that over 21.0% of current Castle Biosciences price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 3.2 |
Castle Biosciences lagged returns against current returns
Autocorrelation, which is Castle Biosciences 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 Castle Biosciences' stock expected returns. We can calculate the autocorrelation of Castle Biosciences returns to help us make a trade decision. For example, suppose you find that Castle Biosciences 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 |
Castle Biosciences 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 Castle Biosciences stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Castle Biosciences stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Castle Biosciences stock over time.
Current vs Lagged Prices |
| Timeline |
Castle Biosciences Lagged Returns
When evaluating Castle Biosciences' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Castle Biosciences stock have on its future price. Castle Biosciences 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, Castle Biosciences autocorrelation shows the relationship between Castle Biosciences stock current value and its past values and can show if there is a momentum factor associated with investing in Castle Biosciences.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectCheck out Castle Biosciences Correlation, Castle Biosciences Volatility and Castle Biosciences Alpha and Beta module to complement your research on Castle Biosciences. For more information on how to buy Castle Stock please use our How to buy in Castle Stock guide.You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Castle Biosciences 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.