Air Canada (Germany) Market Value
| ADH2 Stock | 14.38 0.08 0.55% |
| Symbol | Air |
Air Canada '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 Air Canada'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 Air Canada.
| 06/25/2024 |
| 12/22/2024 |
If you would invest 0.00 in Air Canada on June 25, 2024 and sell it all today you would earn a total of 0.00 from holding Air Canada or generate 0.0% return on investment in Air Canada over 180 days. Air Canada is related to or competes with FARO Technologies, KOOL2PLAY, LG Display, and Amkor Technology. More
Air Canada 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 Air Canada'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 Air Canada upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.45 | |||
| Information Ratio | 0.1695 | |||
| Maximum Drawdown | 24.4 | |||
| Value At Risk | (2.46) | |||
| Potential Upside | 5.0 |
Air Canada Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Air Canada's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Air Canada's standard deviation. In reality, there are many statistical measures that can use Air Canada historical prices to predict the future Air Canada's volatility.| Risk Adjusted Performance | 0.1503 | |||
| Jensen Alpha | 0.5121 | |||
| Total Risk Alpha | 0.4397 | |||
| Sortino Ratio | 0.2045 | |||
| Treynor Ratio | 1.13 |
Air Canada Backtested Returns
Air Canada appears to be not too volatile, given 3 months investment horizon. Air Canada secures Sharpe Ratio (or Efficiency) of 0.17, which signifies that the company had a 0.17% return per unit of risk over the last 3 months. By analyzing Air Canada's technical indicators, you can evaluate if the expected return of 0.51% is justified by implied risk. Please makes use of Air Canada's Downside Deviation of 2.45, risk adjusted performance of 0.1503, and Mean Deviation of 1.84 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Air Canada holds a performance score of 13. The firm shows a Beta (market volatility) of 0.46, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Air Canada's returns are expected to increase less than the market. However, during the bear market, the loss of holding Air Canada is expected to be smaller as well. Please check Air Canada's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Air Canada's price patterns will revert.
Auto-correlation | -0.76 |
Almost perfect reverse predictability
Air Canada has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Air Canada time series from 25th of June 2024 to 23rd of September 2024 and 23rd of September 2024 to 22nd 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 Air Canada price movement. The serial correlation of -0.76 indicates that around 76.0% of current Air Canada price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.76 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 5.74 |
Air Canada lagged returns against current returns
Autocorrelation, which is Air Canada 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 Air Canada's stock expected returns. We can calculate the autocorrelation of Air Canada returns to help us make a trade decision. For example, suppose you find that Air Canada 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 |
Air Canada 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 Air Canada stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Air Canada stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Air Canada stock over time.
Current vs Lagged Prices |
| Timeline |
Air Canada Lagged Returns
When evaluating Air Canada's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Air Canada stock have on its future price. Air Canada 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, Air Canada autocorrelation shows the relationship between Air Canada stock current value and its past values and can show if there is a momentum factor associated with investing in Air Canada.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Air Stock Analysis
When running Air Canada's price analysis, check to measure Air Canada'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 Air Canada is operating at the current time. Most of Air Canada's value examination focuses on studying past and present price action to predict the probability of Air Canada's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Air Canada's price. Additionally, you may evaluate how the addition of Air Canada to your portfolios can decrease your overall portfolio volatility.