Chorus Aviation Stock Market Value
| CHR Stock | CAD 2.94 0.01 0.34% |
| Symbol | Chorus |
Chorus Aviation Price To Book Ratio
Chorus Aviation '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 Chorus Aviation'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 Chorus Aviation.
| 11/23/2024 |
| 12/23/2024 |
If you would invest 0.00 in Chorus Aviation on November 23, 2024 and sell it all today you would earn a total of 0.00 from holding Chorus Aviation or generate 0.0% return on investment in Chorus Aviation over 30 days. Chorus Aviation is related to or competes with Cargojet, Exchange Income, Cineplex, Transat AT, and NFI. Chorus Aviation Inc., through its subsidiaries, engages in the airline business in Canada and the United States More
Chorus Aviation 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 Chorus Aviation'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 Chorus Aviation upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.08 | |||
| Information Ratio | 0.041 | |||
| Maximum Drawdown | 11.37 | |||
| Value At Risk | (3.01) | |||
| Potential Upside | 3.27 |
Chorus Aviation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chorus Aviation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chorus Aviation's standard deviation. In reality, there are many statistical measures that can use Chorus Aviation historical prices to predict the future Chorus Aviation's volatility.| Risk Adjusted Performance | 0.051 | |||
| Jensen Alpha | 0.103 | |||
| Total Risk Alpha | 0.0489 | |||
| Sortino Ratio | 0.0407 | |||
| Treynor Ratio | 0.6362 |
Chorus Aviation Backtested Returns
As of now, Chorus Stock is moderately volatile. Chorus Aviation secures Sharpe Ratio (or Efficiency) of 0.0688, which signifies that the company had a 0.0688% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Chorus Aviation, which you can use to evaluate the volatility of the firm. Please confirm Chorus Aviation's Risk Adjusted Performance of 0.051, mean deviation of 1.64, and Downside Deviation of 2.08 to double-check if the risk estimate we provide is consistent with the expected return of 0.14%. Chorus Aviation has a performance score of 5 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.17, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Chorus Aviation's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chorus Aviation is expected to be smaller as well. Chorus Aviation right now shows a risk of 2.08%. Please confirm Chorus Aviation sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Chorus Aviation will be following its price patterns.
Auto-correlation | -0.22 |
Weak reverse predictability
Chorus Aviation has weak reverse predictability. Overlapping area represents the amount of predictability between Chorus Aviation time series from 23rd of November 2024 to 8th of December 2024 and 8th of December 2024 to 23rd 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 Chorus Aviation price movement. The serial correlation of -0.22 indicates that over 22.0% of current Chorus Aviation price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.22 | |
| Spearman Rank Test | -0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Chorus Aviation lagged returns against current returns
Autocorrelation, which is Chorus Aviation 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 Chorus Aviation's stock expected returns. We can calculate the autocorrelation of Chorus Aviation returns to help us make a trade decision. For example, suppose you find that Chorus Aviation 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 |
Chorus Aviation 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 Chorus Aviation stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chorus Aviation stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chorus Aviation stock over time.
Current vs Lagged Prices |
| Timeline |
Chorus Aviation Lagged Returns
When evaluating Chorus Aviation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chorus Aviation stock have on its future price. Chorus Aviation 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, Chorus Aviation autocorrelation shows the relationship between Chorus Aviation stock current value and its past values and can show if there is a momentum factor associated with investing in Chorus Aviation.
Regressed Prices |
| Timeline |
Pair Trading with Chorus Aviation
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 Chorus Aviation 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 Chorus Aviation will appreciate offsetting losses from the drop in the long position's value.Moving together with Chorus Stock
Moving against Chorus Stock
| 0.7 | TKU | Tarku Resources | PairCorr |
| 0.61 | TD | Toronto Dominion Bank | PairCorr |
| 0.35 | AQN-PD | Algonquin Power Utilities | PairCorr |
The ability to find closely correlated positions to Chorus Aviation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chorus Aviation 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 Chorus Aviation - 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 Chorus Aviation to buy it.
The correlation of Chorus Aviation 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 Chorus Aviation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chorus Aviation 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 Chorus Aviation 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 Chorus Stock
Chorus Aviation financial ratios help investors to determine whether Chorus 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 Chorus with respect to the benefits of owning Chorus Aviation security.