Chemtrade Logistics Income Stock Market Value
| CHE-UN Stock | CAD 11.82 0.06 0.51% |
| Symbol | Chemtrade |
Chemtrade Logistics Price To Book Ratio
Chemtrade Logistics '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 Chemtrade Logistics' 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 Chemtrade Logistics.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Chemtrade Logistics on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Chemtrade Logistics Income or generate 0.0% return on investment in Chemtrade Logistics over 720 days. Chemtrade Logistics is related to or competes with Extendicare, NorthWest Healthcare, Exchange Income, Freehold Royalties, and Keyera Corp. Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South Ameri... More
Chemtrade Logistics 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 Chemtrade Logistics' 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 Chemtrade Logistics Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.13 | |||
| Information Ratio | 0.1177 | |||
| Maximum Drawdown | 6.64 | |||
| Value At Risk | (1.51) | |||
| Potential Upside | 1.87 |
Chemtrade Logistics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chemtrade Logistics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chemtrade Logistics' standard deviation. In reality, there are many statistical measures that can use Chemtrade Logistics historical prices to predict the future Chemtrade Logistics' volatility.| Risk Adjusted Performance | 0.1841 | |||
| Jensen Alpha | 0.2186 | |||
| Total Risk Alpha | 0.0705 | |||
| Sortino Ratio | 0.1205 | |||
| Treynor Ratio | 0.742 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Chemtrade Logistics' 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.
Chemtrade Logistics Backtested Returns
Chemtrade Logistics appears to be very steady, given 3 months investment horizon. Chemtrade Logistics secures Sharpe Ratio (or Efficiency) of 0.26, which signifies that the company had a 0.26% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for Chemtrade Logistics Income, which you can use to evaluate the volatility of the firm. Please makes use of Chemtrade Logistics' mean deviation of 0.8812, and Risk Adjusted Performance of 0.1841 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Chemtrade Logistics holds a performance score of 20. The firm shows a Beta (market volatility) of 0.36, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Chemtrade Logistics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Chemtrade Logistics is expected to be smaller as well. Please check Chemtrade Logistics' treynor ratio, expected short fall, and the relationship between the jensen alpha and potential upside , to make a quick decision on whether Chemtrade Logistics' price patterns will revert.
Auto-correlation | 0.09 |
Virtually no predictability
Chemtrade Logistics Income has virtually no predictability. Overlapping area represents the amount of predictability between Chemtrade Logistics time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Chemtrade Logistics price movement. The serial correlation of 0.09 indicates that less than 9.0% of current Chemtrade Logistics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.09 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 1.35 |
Chemtrade Logistics lagged returns against current returns
Autocorrelation, which is Chemtrade Logistics 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 Chemtrade Logistics' stock expected returns. We can calculate the autocorrelation of Chemtrade Logistics returns to help us make a trade decision. For example, suppose you find that Chemtrade Logistics 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 |
Chemtrade Logistics 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 Chemtrade Logistics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chemtrade Logistics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chemtrade Logistics stock over time.
Current vs Lagged Prices |
| Timeline |
Chemtrade Logistics Lagged Returns
When evaluating Chemtrade Logistics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chemtrade Logistics stock have on its future price. Chemtrade Logistics 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, Chemtrade Logistics autocorrelation shows the relationship between Chemtrade Logistics stock current value and its past values and can show if there is a momentum factor associated with investing in Chemtrade Logistics Income.
Regressed Prices |
| Timeline |
Pair Trading with Chemtrade Logistics
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 Chemtrade Logistics 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 Chemtrade Logistics will appreciate offsetting losses from the drop in the long position's value.Moving together with Chemtrade Stock
Moving against Chemtrade Stock
The ability to find closely correlated positions to Chemtrade Logistics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chemtrade Logistics 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 Chemtrade Logistics - 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 Chemtrade Logistics Income to buy it.
The correlation of Chemtrade Logistics 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 Chemtrade Logistics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chemtrade Logistics 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 Chemtrade Logistics 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 Chemtrade Stock
Chemtrade Logistics financial ratios help investors to determine whether Chemtrade 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 Chemtrade with respect to the benefits of owning Chemtrade Logistics security.