Canadian Apartment Properties Stock Market Value
| CAR-UN Stock | CAD 45.61 0.26 0.57% |
| Symbol | Canadian |
Canadian Apartment Price To Book Ratio
Canadian Apartment '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 Canadian Apartment'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 Canadian Apartment.
| 09/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Canadian Apartment on September 30, 2024 and sell it all today you would earn a total of 0.00 from holding Canadian Apartment Properties or generate 0.0% return on investment in Canadian Apartment over 60 days. Canadian Apartment is related to or competes with Allied Properties, Granite Real, Boardwalk Real, HR Real, and InterRent Real. CAPREIT is one of Canadas largest real estate investment trusts More
Canadian Apartment 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 Canadian Apartment'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 Canadian Apartment Properties upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 6.21 | |||
| Value At Risk | (1.85) | |||
| Potential Upside | 1.76 |
Canadian Apartment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Apartment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Apartment's standard deviation. In reality, there are many statistical measures that can use Canadian Apartment historical prices to predict the future Canadian Apartment's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.24) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.79) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canadian Apartment's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Canadian Apartment Backtested Returns
Canadian Apartment 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. Canadian Apartment Properties exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Canadian Apartment's Standard Deviation of 1.24, mean deviation of 0.997, and Risk Adjusted Performance of (0.12) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.26, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canadian Apartment's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canadian Apartment is expected to be smaller as well. At this point, Canadian Apartment has a negative expected return of -0.21%. Please make sure to confirm Canadian Apartment's maximum drawdown, as well as the relationship between the accumulation distribution and day typical price , to decide if Canadian Apartment performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.63 |
Good predictability
Canadian Apartment Properties has good predictability. Overlapping area represents the amount of predictability between Canadian Apartment time series from 30th of September 2024 to 30th of October 2024 and 30th of October 2024 to 29th of November 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 Canadian Apartment price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current Canadian Apartment price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | 0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 0.39 |
Canadian Apartment lagged returns against current returns
Autocorrelation, which is Canadian Apartment 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 Canadian Apartment's stock expected returns. We can calculate the autocorrelation of Canadian Apartment returns to help us make a trade decision. For example, suppose you find that Canadian Apartment 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 |
Canadian Apartment 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 Canadian Apartment stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Apartment stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Apartment stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Apartment Lagged Returns
When evaluating Canadian Apartment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Apartment stock have on its future price. Canadian Apartment 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, Canadian Apartment autocorrelation shows the relationship between Canadian Apartment stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Apartment Properties.
Regressed Prices |
| Timeline |
Pair Trading with Canadian Apartment
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 Apartment 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 Apartment will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
Moving against Canadian Stock
The ability to find closely correlated positions to Canadian Apartment 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 Apartment 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 Apartment - 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 Apartment Properties to buy it.
The correlation of Canadian Apartment 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 Apartment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Apartment 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 Apartment 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 Canadian Stock
Canadian Apartment financial ratios help investors to determine whether Canadian 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 Canadian with respect to the benefits of owning Canadian Apartment security.