Tonix Pharmaceuticals Holding Corp Spline ILLIQ Liquidity Analysis
Liquidity prediction for Monday, July 20th, 2026
1 Day
5,971.86
decreased by 67.59
1 Week
5,605.54
decreased by 433.91
1 Month
4,448.24
decreased by 1,591.21
Analysis last updated: Friday, July 17, 2026 at 09:32 PM UTC
News Impact Curve
How returns affect tomorrow's liquidityLiquidity Forecast
How liquidity evolves over timeParameter Estimates
May 16, 2012 to Jul 17, 2026Model Insight
With persistence 0.998, illiquidity shocks have a half-life of 279 trading days (~1.1 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 | 1.4115 | 3.22*** |
α ARCH Response to squared shocks | 0.2026 | 17.85*** |
β GARCH Volatility persistence | 0.7950 | 70.59*** |
Spline Coefficients
K=1
| γ1 | 0.0020 | 0.22 |
Persistence:
0.998
Half-life:
279 days
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