Champion Iron Stock Market Value
| CIA Stock | CAD 5.19 0.01 0.19% |
| Symbol | Champion |
Champion Iron Price To Book Ratio
Champion Iron '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 Champion Iron'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 Champion Iron.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Champion Iron on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Champion Iron or generate 0.0% return on investment in Champion Iron over 30 days. Champion Iron is related to or competes with Global X, Financial, Rubicon Organics, Amazon CDR, First Trust, and Rocky Mountain. Champion Iron Limited engages in the acquisition, exploration, development, and production of iron ore deposits in Canad... More
Champion Iron 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 Champion Iron'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 Champion Iron upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 15.66 | |||
| Value At Risk | (4.08) | |||
| Potential Upside | 4.57 |
Champion Iron Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Champion Iron's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Champion Iron's standard deviation. In reality, there are many statistical measures that can use Champion Iron historical prices to predict the future Champion Iron's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.53) | |||
| Treynor Ratio | (0.05) |
Champion Iron Backtested Returns
Champion Iron secures Sharpe Ratio (or Efficiency) of -0.0052, which signifies that the company had a -0.0052% return per unit of standard deviation over the last 3 months. Champion Iron exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Champion Iron's mean deviation of 2.37, and Risk Adjusted Performance of (0) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.08, which signifies a somewhat significant risk relative to the market. Champion Iron returns are very sensitive to returns on the market. As the market goes up or down, Champion Iron is expected to follow. At this point, Champion Iron has a negative expected return of -0.0158%. Please make sure to confirm Champion Iron's maximum drawdown, rate of daily change, and the relationship between the jensen alpha and kurtosis , to decide if Champion Iron performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.05 |
Very weak reverse predictability
Champion Iron has very weak reverse predictability. Overlapping area represents the amount of predictability between Champion Iron 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 Champion Iron price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Champion Iron price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Champion Iron lagged returns against current returns
Autocorrelation, which is Champion Iron 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 Champion Iron's stock expected returns. We can calculate the autocorrelation of Champion Iron returns to help us make a trade decision. For example, suppose you find that Champion Iron 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 |
Champion Iron 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 Champion Iron stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Champion Iron stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Champion Iron stock over time.
Current vs Lagged Prices |
| Timeline |
Champion Iron Lagged Returns
When evaluating Champion Iron's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Champion Iron stock have on its future price. Champion Iron 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, Champion Iron autocorrelation shows the relationship between Champion Iron stock current value and its past values and can show if there is a momentum factor associated with investing in Champion Iron.
Regressed Prices |
| Timeline |
Pair Trading with Champion Iron
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 Champion Iron 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 Champion Iron will appreciate offsetting losses from the drop in the long position's value.Moving together with Champion Stock
The ability to find closely correlated positions to Champion Iron could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Champion Iron 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 Champion Iron - 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 Champion Iron to buy it.
The correlation of Champion Iron 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 Champion Iron moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Champion Iron 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 Champion Iron 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 Champion Stock
Champion Iron financial ratios help investors to determine whether Champion 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 Champion with respect to the benefits of owning Champion Iron security.