Olema Pharmaceuticals Correlations

OLMA
 Stock
  

USD 3.15  0.41  14.96%   

The correlation of Olema Pharmaceuticals is a statistical measure of how it moves in relation to other equities. 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 Olema Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Olema 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.
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The ability to find closely correlated positions to Olema 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 Olema 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 Olema 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 Olema Pharmaceuticals to buy it.

Moving against Olema Pharmaceuticals

-0.57FXCOFinancial StrategiesPairCorr
-0.57NMHLYNMC HEALTH PLCPairCorr

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Our tools can tell you how much better you can do entering a position in Olema Pharmaceuticals without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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The danger of trading Olema Pharmaceuticals is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Olema Pharmaceuticals is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Olema Pharmaceuticals. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Olema Pharmaceuticals is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Your Equity Center. You can also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.

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When running Olema Pharmaceuticals price analysis, check to measure Olema 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 Olema Pharmaceuticals is operating at the current time. Most of Olema Pharmaceuticals' value examination focuses on studying past and present price action to predict the probability of Olema Pharmaceuticals' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Olema Pharmaceuticals' price. Additionally, you may evaluate how the addition of Olema Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.
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Is Olema Pharmaceuticals' 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 Olema Pharmaceuticals. If investors know Olema 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 Olema Pharmaceuticals listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
127.4 M
Return On Assets
(0.23) 
Return On Equity
(0.39) 
The market value of Olema Pharmaceuticals is measured differently than its book value, which is the value of Olema that is recorded on the company's balance sheet. Investors also form their own opinion of Olema Pharmaceuticals' value that differs from its market value or its book value, called intrinsic value, which is Olema Pharmaceuticals' 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 Olema Pharmaceuticals' market value can be influenced by many factors that don't directly affect Olema Pharmaceuticals' 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 Olema Pharmaceuticals' value and its price as these two are different measures arrived at by different means. Investors typically determine Olema Pharmaceuticals value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Olema Pharmaceuticals' 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.