Aurora Cannabis Stock Market Value
| ACB Stock | CAD 6.11 0.31 4.83% |
| Symbol | Aurora |
Aurora Cannabis Price To Book Ratio
Aurora Cannabis '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 Aurora Cannabis' 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 Aurora Cannabis.
| 11/19/2024 |
| 12/19/2024 |
If you would invest 0.00 in Aurora Cannabis on November 19, 2024 and sell it all today you would earn a total of 0.00 from holding Aurora Cannabis or generate 0.0% return on investment in Aurora Cannabis over 30 days. Aurora Cannabis is related to or competes with IShares Canadian, Altagas Cum, RBC Discount, IShares SPTSX, and Harvest Tech. Aurora Cannabis Inc., together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative ... More
Aurora Cannabis 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 Aurora Cannabis' 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 Aurora Cannabis upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 26.3 | |||
| Value At Risk | (4.83) | |||
| Potential Upside | 5.29 |
Aurora Cannabis Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Aurora Cannabis' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aurora Cannabis' standard deviation. In reality, there are many statistical measures that can use Aurora Cannabis historical prices to predict the future Aurora Cannabis' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.37) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | (5.72) |
Aurora Cannabis Backtested Returns
Aurora Cannabis secures Sharpe Ratio (or Efficiency) of -0.0828, which signifies that the company had a -0.0828% return per unit of risk over the last 3 months. Aurora Cannabis exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Aurora Cannabis' Standard Deviation of 3.67, risk adjusted performance of (0.07), and Mean Deviation of 2.5 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0647, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Aurora Cannabis' returns are expected to increase less than the market. However, during the bear market, the loss of holding Aurora Cannabis is expected to be smaller as well. At this point, Aurora Cannabis has a negative expected return of -0.31%. Please make sure to confirm Aurora Cannabis' kurtosis, and the relationship between the value at risk and rate of daily change , to decide if Aurora Cannabis performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.02 |
Virtually no predictability
Aurora Cannabis has virtually no predictability. Overlapping area represents the amount of predictability between Aurora Cannabis time series from 19th of November 2024 to 4th of December 2024 and 4th of December 2024 to 19th of December 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 Aurora Cannabis price movement. The serial correlation of 0.02 indicates that only 2.0% of current Aurora Cannabis price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Aurora Cannabis lagged returns against current returns
Autocorrelation, which is Aurora Cannabis 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 Aurora Cannabis' stock expected returns. We can calculate the autocorrelation of Aurora Cannabis returns to help us make a trade decision. For example, suppose you find that Aurora Cannabis 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 |
Aurora Cannabis 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 Aurora Cannabis stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aurora Cannabis stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aurora Cannabis stock over time.
Current vs Lagged Prices |
| Timeline |
Aurora Cannabis Lagged Returns
When evaluating Aurora Cannabis' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aurora Cannabis stock have on its future price. Aurora Cannabis 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, Aurora Cannabis autocorrelation shows the relationship between Aurora Cannabis stock current value and its past values and can show if there is a momentum factor associated with investing in Aurora Cannabis.
Regressed Prices |
| Timeline |
Pair Trading with Aurora Cannabis
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 Aurora Cannabis 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 Aurora Cannabis will appreciate offsetting losses from the drop in the long position's value.Moving together with Aurora Stock
Moving against Aurora Stock
The ability to find closely correlated positions to Aurora Cannabis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aurora Cannabis 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 Aurora Cannabis - 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 Aurora Cannabis to buy it.
The correlation of Aurora Cannabis 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 Aurora Cannabis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aurora Cannabis 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 Aurora Cannabis 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.Check out Aurora Cannabis Correlation, Aurora Cannabis Volatility and Aurora Cannabis Alpha and Beta module to complement your research on Aurora Cannabis. To learn how to invest in Aurora Stock, please use our How to Invest in Aurora Cannabis guide.You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Aurora Cannabis 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.