Canadian Pacific Stock Forecast - Daily Balance Of Power
| CP Stock | USD 76.59 1.24 1.65% |
Canadian Stock Forecast is based on your current time horizon. Although Canadian Pacific's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Canadian Pacific's systematic risk associated with finding meaningful patterns of Canadian Pacific fundamentals over time.
Canadian |
| Previous Daily Balance Of Power | Daily Balance Of Power | Trend |
| 0.6606 | (0.32) |
| Check Canadian Pacific Volatility | Backtest Canadian Pacific | Trend Details |
Canadian Pacific Trading Date Momentum
| On January 29 2024 Canadian Pacific Railway was traded for 78.83 at the closing time. The highest price during the trading period was 78.85 and the lowest recorded bid was listed for 77.74 . The volume for the day was 2.1 M. This history from January 29, 2024 contributed to the next trading day price gain. The overall trading delta to the next closing price was 0.79% . The overall trading delta to the current price is 1.93% . |
Balance of Power indicator was created by Igor Livshin to predict asset short term price movements or warning signals. If Balance of Power indicator is trended towards the high of its range it will signify that the bulls are in control. On the other hand when the BOP indicator is moving towards the lows of its range it signifies that the bears are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.
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Other Forecasting Options for Canadian Pacific
For every potential investor in Canadian, whether a beginner or expert, Canadian Pacific's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Canadian Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Canadian. Basic forecasting techniques help filter out the noise by identifying Canadian Pacific's price trends.Canadian Pacific Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Canadian Pacific stock to make a market-neutral strategy. Peer analysis of Canadian Pacific could also be used in its relative valuation, which is a method of valuing Canadian Pacific by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Canadian Pacific Railway Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Canadian Pacific's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Canadian Pacific's current price.| Cycle Indicators | ||
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| Momentum Indicators | ||
| Overlap Studies | ||
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| Volatility Indicators | ||
| Volume Indicators |
Canadian Pacific Market Strength Events
Market strength indicators help investors to evaluate how Canadian Pacific stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Canadian Pacific shares will generate the highest return on investment. By undertsting and applying Canadian Pacific stock market strength indicators, traders can identify Canadian Pacific Railway entry and exit signals to maximize returns.
Canadian Pacific Risk Indicators
The analysis of Canadian Pacific's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Canadian Pacific's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting canadian stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 0.9622 | |||
| Standard Deviation | 1.2 | |||
| Variance | 1.43 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Pair Trading with Canadian Pacific
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 Canadian Pacific 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 Canadian Pacific will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
Moving against Canadian Stock
| 0.92 | AZ | A2Z Smart Technologies | PairCorr |
| 0.91 | AAL | American Airlines Aggressive Push | PairCorr |
| 0.83 | ALK | Alaska Air Group Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.83 | B | Barnes Group | PairCorr |
| 0.81 | VLRS | Volaris | PairCorr |
The ability to find closely correlated positions to Canadian Pacific could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Pacific 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 Canadian Pacific - 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 Canadian Pacific Railway to buy it.
The correlation of Canadian Pacific 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 Canadian Pacific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Pacific Railway 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 Canadian Pacific 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.Additional Tools for Canadian Stock Analysis
When running Canadian Pacific's price analysis, check to measure Canadian Pacific's 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 Canadian Pacific is operating at the current time. Most of Canadian Pacific's value examination focuses on studying past and present price action to predict the probability of Canadian Pacific's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Pacific's price. Additionally, you may evaluate how the addition of Canadian Pacific to your portfolios can decrease your overall portfolio volatility.