V-Lab
Tenax Therapeutics Inc Spline ILLIQ Liquidity Analysis
High-persistence model: shocks decay very slowly, so the theoretical long-run value may not be practically meaningful
Illiquidity prediction for Tuesday, August 11th, 2026
1 Day
6,123.28
increased by 3,950.72
1 Week
3,182.57
increased by 1,010.01
1 Month
3,032.57
increased by 860.01
Analysis last updated: Monday, August 10, 2026 at 09:18 PM UTC
News Impact Curve
How returns affect tomorrow's illiquidityIlliquidity Forecast
How illiquidity evolves over timeParameter Estimates
Jan 2, 1997 to Aug 7, 2026Model Insight
With persistence 1.000, illiquidity shocks have a half-life of 173286 trading days (~687.6 years), close to a unit root, so long-run forecasts are highly sensitive to this estimate.
μ
ILLIQ-SMEM Model
Tap to view equation
| Parameter | Value | t-statistic |
|---|---|---|
ω const Unconditional variance weight | 1.0000 | 2.30** |
α ARCH Response to squared shocks | 0.1622 | 0.07 |
β GARCH Volatility persistence | 0.8378 | 0.34 |
Spline Coefficients
K=1
| γ1 | -0.0130 | -0.01 |
Persistence:
1.000
Half-life:
173286 days
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