Cogeco Communications Stock Market Value
| CCA Stock | CAD 70.00 3.17 4.74% |
| Symbol | Cogeco |
Cogeco Communications Price To Book Ratio
Cogeco Communications '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 Cogeco Communications' 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 Cogeco Communications.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Cogeco Communications on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Cogeco Communications or generate 0.0% return on investment in Cogeco Communications over 30 days. Cogeco Communications is related to or competes with IShares Canadian, PHN Multi, Altagas Cum, and EcoSynthetix. Cogeco Communications Inc. operates as a communications corporation in North America More
Cogeco Communications 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 Cogeco Communications' 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 Cogeco Communications upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.09 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 4.32 | |||
| Value At Risk | (1.62) | |||
| Potential Upside | 1.64 |
Cogeco Communications Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cogeco Communications' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cogeco Communications' standard deviation. In reality, there are many statistical measures that can use Cogeco Communications historical prices to predict the future Cogeco Communications' volatility.| Risk Adjusted Performance | 0.0498 | |||
| Jensen Alpha | 0.0204 | |||
| Total Risk Alpha | (0.10) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.1871 |
Cogeco Communications Backtested Returns
As of now, Cogeco Stock is very steady. Cogeco Communications secures Sharpe Ratio (or Efficiency) of 0.089, which signifies that the company had a 0.089% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Cogeco Communications, which you can use to evaluate the volatility of the firm. Please confirm Cogeco Communications' Mean Deviation of 0.8377, downside deviation of 1.09, and Risk Adjusted Performance of 0.0498 to double-check if the risk estimate we provide is consistent with the expected return of 0.0929%. Cogeco Communications has a performance score of 7 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.28, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Cogeco Communications' returns are expected to increase less than the market. However, during the bear market, the loss of holding Cogeco Communications is expected to be smaller as well. Cogeco Communications right now shows a risk of 1.04%. Please confirm Cogeco Communications maximum drawdown, skewness, and the relationship between the total risk alpha and downside variance , to decide if Cogeco Communications will be following its price patterns.
Auto-correlation | -0.48 |
Modest reverse predictability
Cogeco Communications has modest reverse predictability. Overlapping area represents the amount of predictability between Cogeco Communications time series from 30th of October 2024 to 14th of November 2024 and 14th of November 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 Cogeco Communications price movement. The serial correlation of -0.48 indicates that about 48.0% of current Cogeco Communications price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 1.12 |
Cogeco Communications lagged returns against current returns
Autocorrelation, which is Cogeco Communications 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 Cogeco Communications' stock expected returns. We can calculate the autocorrelation of Cogeco Communications returns to help us make a trade decision. For example, suppose you find that Cogeco Communications 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 |
Cogeco Communications 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 Cogeco Communications stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cogeco Communications stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cogeco Communications stock over time.
Current vs Lagged Prices |
| Timeline |
Cogeco Communications Lagged Returns
When evaluating Cogeco Communications' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cogeco Communications stock have on its future price. Cogeco Communications 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, Cogeco Communications autocorrelation shows the relationship between Cogeco Communications stock current value and its past values and can show if there is a momentum factor associated with investing in Cogeco Communications.
Regressed Prices |
| Timeline |
Pair Trading with Cogeco Communications
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 Cogeco Communications 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 Cogeco Communications will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Cogeco Communications could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cogeco Communications 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 Cogeco Communications - 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 Cogeco Communications to buy it.
The correlation of Cogeco Communications 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 Cogeco Communications moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cogeco Communications 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 Cogeco Communications 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 Cogeco Stock
Cogeco Communications financial ratios help investors to determine whether Cogeco 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 Cogeco with respect to the benefits of owning Cogeco Communications security.