Columbus Mckinnon Stock Market Value
| CMCO Stock | USD 39.29 0.19 0.49% |
| Symbol | Columbus |
Columbus McKinnon Price To Book Ratio
Is Industrial Machinery & Supplies & Components space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Columbus McKinnon. If investors know Columbus will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Columbus McKinnon listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.07) | Dividend Share 0.28 | Earnings Share 0.52 | Revenue Per Share 34.771 | Quarterly Revenue Growth (0.06) |
The market value of Columbus McKinnon is measured differently than its book value, which is the value of Columbus that is recorded on the company's balance sheet. Investors also form their own opinion of Columbus McKinnon's value that differs from its market value or its book value, called intrinsic value, which is Columbus McKinnon's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Columbus McKinnon's market value can be influenced by many factors that don't directly affect Columbus McKinnon's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Columbus McKinnon's value and its price as these two are different measures arrived at by different means. Investors typically determine if Columbus McKinnon is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Columbus McKinnon's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Columbus McKinnon '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 Columbus McKinnon'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 Columbus McKinnon.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Columbus McKinnon on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Columbus McKinnon or generate 0.0% return on investment in Columbus McKinnon over 180 days. Columbus McKinnon is related to or competes with Nikola Corp, Wabash National, Titan International, Deere, Caterpillar, Hydrofarm Holdings, and Gencor Industries. Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lif... More
Columbus McKinnon 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 Columbus McKinnon'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 Columbus McKinnon upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.9 | |||
| Information Ratio | 0.0627 | |||
| Maximum Drawdown | 10.66 | |||
| Value At Risk | (2.70) | |||
| Potential Upside | 3.87 |
Columbus McKinnon Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Columbus McKinnon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Columbus McKinnon's standard deviation. In reality, there are many statistical measures that can use Columbus McKinnon historical prices to predict the future Columbus McKinnon's volatility.| Risk Adjusted Performance | 0.0991 | |||
| Jensen Alpha | 0.0168 | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | 0.0784 | |||
| Treynor Ratio | 0.1359 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Columbus McKinnon'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.
Columbus McKinnon Backtested Returns
Columbus McKinnon appears to be very steady, given 3 months investment horizon. Columbus McKinnon secures Sharpe Ratio (or Efficiency) of 0.14, which signifies that the company had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Columbus McKinnon, which you can use to evaluate the volatility of the firm. Please makes use of Columbus McKinnon's Risk Adjusted Performance of 0.0991, downside deviation of 1.9, and Mean Deviation of 1.77 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Columbus McKinnon holds a performance score of 10. The firm shows a Beta (market volatility) of 2.03, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Columbus McKinnon will likely underperform. Please check Columbus McKinnon's total risk alpha, expected short fall, price action indicator, as well as the relationship between the value at risk and daily balance of power , to make a quick decision on whether Columbus McKinnon's price patterns will revert.
Auto-correlation | -0.58 |
Good reverse predictability
Columbus McKinnon has good reverse predictability. Overlapping area represents the amount of predictability between Columbus McKinnon time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 Columbus McKinnon price movement. The serial correlation of -0.58 indicates that roughly 58.0% of current Columbus McKinnon price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.58 | |
| Spearman Rank Test | -0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 6.26 |
Columbus McKinnon lagged returns against current returns
Autocorrelation, which is Columbus McKinnon 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 Columbus McKinnon's stock expected returns. We can calculate the autocorrelation of Columbus McKinnon returns to help us make a trade decision. For example, suppose you find that Columbus McKinnon 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 |
Columbus McKinnon 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 Columbus McKinnon stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Columbus McKinnon stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Columbus McKinnon stock over time.
Current vs Lagged Prices |
| Timeline |
Columbus McKinnon Lagged Returns
When evaluating Columbus McKinnon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Columbus McKinnon stock have on its future price. Columbus McKinnon 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, Columbus McKinnon autocorrelation shows the relationship between Columbus McKinnon stock current value and its past values and can show if there is a momentum factor associated with investing in Columbus McKinnon.
Regressed Prices |
| Timeline |
Pair Trading with Columbus McKinnon
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 Columbus McKinnon 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 Columbus McKinnon will appreciate offsetting losses from the drop in the long position's value.Moving together with Columbus Stock
Moving against Columbus Stock
| 0.81 | LEV | Lion Electric Corp | PairCorr |
| 0.73 | NKLA | Nikola Corp | PairCorr |
| 0.35 | GP | GreenPower Motor | PairCorr |
| 0.34 | HY | Hyster Yale Materials | PairCorr |
| 0.33 | TWI | Titan International | PairCorr |
The ability to find closely correlated positions to Columbus McKinnon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Columbus McKinnon 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 Columbus McKinnon - 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 Columbus McKinnon to buy it.
The correlation of Columbus McKinnon 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 Columbus McKinnon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Columbus McKinnon 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 Columbus McKinnon 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.Check out Columbus McKinnon Correlation, Columbus McKinnon Volatility and Columbus McKinnon Alpha and Beta module to complement your research on Columbus McKinnon. To learn how to invest in Columbus Stock, please use our How to Invest in Columbus McKinnon guide.You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Columbus McKinnon technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.