Autocanada Stock Market Value
| ACQ Stock | CAD 18.79 0.04 0.21% |
| Symbol | Autocanada |
Autocanada Price To Book Ratio
Autocanada '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 Autocanada's 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 Autocanada.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Autocanada on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Autocanada or generate 0.0% return on investment in Autocanada over 30 days. Autocanada is related to or competes with Martinrea International, Linamar, NFI, and Element Fleet. AutoCanada Inc., through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Sask... More
Autocanada 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 Autocanada's 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 Autocanada upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.02 | |||
| Information Ratio | 0.0848 | |||
| Maximum Drawdown | 26.54 | |||
| Value At Risk | (2.52) | |||
| Potential Upside | 3.35 |
Autocanada Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Autocanada's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Autocanada's standard deviation. In reality, there are many statistical measures that can use Autocanada historical prices to predict the future Autocanada's volatility.| Risk Adjusted Performance | 0.102 | |||
| Jensen Alpha | 0.3929 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.1506 | |||
| Treynor Ratio | 1.4 |
Autocanada Backtested Returns
Autocanada appears to be not too volatile, given 3 months investment horizon. Autocanada secures Sharpe Ratio (or Efficiency) of 0.15, which signifies that the company had a 0.15% return per unit of risk over the last 3 months. By analyzing Autocanada's technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please makes use of Autocanada's Downside Deviation of 2.02, mean deviation of 1.77, and Risk Adjusted Performance of 0.102 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Autocanada holds a performance score of 11. The firm shows a Beta (market volatility) of 0.31, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Autocanada's returns are expected to increase less than the market. However, during the bear market, the loss of holding Autocanada is expected to be smaller as well. Please check Autocanada's expected short fall, day median price, and the relationship between the potential upside and accumulation distribution , to make a quick decision on whether Autocanada's price patterns will revert.
Auto-correlation | 0.29 |
Poor predictability
Autocanada has poor predictability. Overlapping area represents the amount of predictability between Autocanada time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Autocanada price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Autocanada price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Autocanada lagged returns against current returns
Autocorrelation, which is Autocanada 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 Autocanada's stock expected returns. We can calculate the autocorrelation of Autocanada returns to help us make a trade decision. For example, suppose you find that Autocanada 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 |
Autocanada 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 Autocanada stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Autocanada stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Autocanada stock over time.
Current vs Lagged Prices |
| Timeline |
Autocanada Lagged Returns
When evaluating Autocanada's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Autocanada stock have on its future price. Autocanada 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, Autocanada autocorrelation shows the relationship between Autocanada stock current value and its past values and can show if there is a momentum factor associated with investing in Autocanada.
Regressed Prices |
| Timeline |
Pair Trading with Autocanada
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 Autocanada 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 Autocanada will appreciate offsetting losses from the drop in the long position's value.Moving against Autocanada Stock
| 0.6 | AEMC | Alaska Energy Metals | PairCorr |
| 0.57 | CMC | Cielo Waste Solutions | PairCorr |
| 0.46 | EOG | Eco Atlantic Oil | PairCorr |
The ability to find closely correlated positions to Autocanada could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Autocanada 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 Autocanada - 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 Autocanada to buy it.
The correlation of Autocanada 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 Autocanada moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Autocanada 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 Autocanada 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.Other Information on Investing in Autocanada Stock
Autocanada financial ratios help investors to determine whether Autocanada Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Autocanada with respect to the benefits of owning Autocanada security.