Canaccord Genuity Group Stock Market Value
| CF Stock | CAD 10.90 0.02 0.18% |
| Symbol | Canaccord |
Canaccord Genuity Price To Book Ratio
Canaccord Genuity '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 Canaccord Genuity'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 Canaccord Genuity.
| 11/03/2024 |
| 12/03/2024 |
If you would invest 0.00 in Canaccord Genuity on November 3, 2024 and sell it all today you would earn a total of 0.00 from holding Canaccord Genuity Group or generate 0.0% return on investment in Canaccord Genuity over 30 days. Canaccord Genuity is related to or competes with CI Financial, ECN Capital, Element Fleet, Martinrea International, and Mullen. Canaccord Genuity Group Inc., a full-service financial services company, provides investment solutions, and brokerage an... More
Canaccord Genuity 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 Canaccord Genuity'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 Canaccord Genuity Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.11 | |||
| Information Ratio | 0.176 | |||
| Maximum Drawdown | 11.98 | |||
| Value At Risk | (2.84) | |||
| Potential Upside | 3.63 |
Canaccord Genuity Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canaccord Genuity's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canaccord Genuity's standard deviation. In reality, there are many statistical measures that can use Canaccord Genuity historical prices to predict the future Canaccord Genuity's volatility.| Risk Adjusted Performance | 0.1903 | |||
| Jensen Alpha | 0.3765 | |||
| Total Risk Alpha | 0.1646 | |||
| Sortino Ratio | 0.1592 | |||
| Treynor Ratio | 0.704 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canaccord Genuity'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.
Canaccord Genuity Backtested Returns
Canaccord Genuity appears to be not too volatile, given 3 months investment horizon. Canaccord Genuity secures Sharpe Ratio (or Efficiency) of 0.28, which signifies that the company had a 0.28% return per unit of risk over the last 3 months. By analyzing Canaccord Genuity's technical indicators, you can evaluate if the expected return of 0.5% is justified by implied risk. Please makes use of Canaccord Genuity's Risk Adjusted Performance of 0.1903, downside deviation of 2.11, and Mean Deviation of 1.35 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Canaccord Genuity holds a performance score of 21. The firm shows a Beta (market volatility) of 0.64, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Canaccord Genuity's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canaccord Genuity is expected to be smaller as well. Please check Canaccord Genuity's sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether Canaccord Genuity's price patterns will revert.
Auto-correlation | 0.51 |
Modest predictability
Canaccord Genuity Group has modest predictability. Overlapping area represents the amount of predictability between Canaccord Genuity time series from 3rd of November 2024 to 18th of November 2024 and 18th of November 2024 to 3rd 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 Canaccord Genuity price movement. The serial correlation of 0.51 indicates that about 51.0% of current Canaccord Genuity price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Canaccord Genuity lagged returns against current returns
Autocorrelation, which is Canaccord Genuity 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 Canaccord Genuity's stock expected returns. We can calculate the autocorrelation of Canaccord Genuity returns to help us make a trade decision. For example, suppose you find that Canaccord Genuity 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 |
Canaccord Genuity 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 Canaccord Genuity stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canaccord Genuity stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canaccord Genuity stock over time.
Current vs Lagged Prices |
| Timeline |
Canaccord Genuity Lagged Returns
When evaluating Canaccord Genuity's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canaccord Genuity stock have on its future price. Canaccord Genuity 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, Canaccord Genuity autocorrelation shows the relationship between Canaccord Genuity stock current value and its past values and can show if there is a momentum factor associated with investing in Canaccord Genuity Group.
Regressed Prices |
| Timeline |
Pair Trading with Canaccord Genuity
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 Canaccord Genuity 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 Canaccord Genuity will appreciate offsetting losses from the drop in the long position's value.Moving together with Canaccord Stock
The ability to find closely correlated positions to Canaccord Genuity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canaccord Genuity 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 Canaccord Genuity - 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 Canaccord Genuity Group to buy it.
The correlation of Canaccord Genuity 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 Canaccord Genuity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canaccord Genuity 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 Canaccord Genuity 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 Canaccord Stock
Canaccord Genuity financial ratios help investors to determine whether Canaccord 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 Canaccord with respect to the benefits of owning Canaccord Genuity security.