Canon (Germany) Market Value
| CNN1 Stock | EUR 31.80 0.81 2.61% |
| Symbol | Canon |
Canon '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 Canon'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 Canon.
| 11/13/2024 |
| 12/13/2024 |
If you would invest 0.00 in Canon on November 13, 2024 and sell it all today you would earn a total of 0.00 from holding Canon Inc or generate 0.0% return on investment in Canon over 30 days. Canon is related to or competes with Direct Line, SIEM OFFSHORE, MINCO SILVER, Coeur Mining, Selective Insurance, and Eidesvik Offshore. Canon Inc. manufactures and sells office multifunction devices , plain paper copying machines, laser and inkjet printers... More
Canon 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 Canon'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 Canon Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.45 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 7.66 | |||
| Value At Risk | (2.56) | |||
| Potential Upside | 2.74 |
Canon Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canon's standard deviation. In reality, there are many statistical measures that can use Canon historical prices to predict the future Canon's volatility.| Risk Adjusted Performance | 0.013 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.0485 |
Canon Inc Backtested Returns
At this point, Canon is very steady. Canon Inc secures Sharpe Ratio (or Efficiency) of 0.069, which signifies that the company had a 0.069% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Canon Inc, which you can use to evaluate the volatility of the firm. Please confirm Canon's Downside Deviation of 1.45, risk adjusted performance of 0.013, and Mean Deviation of 1.22 to double-check if the risk estimate we provide is consistent with the expected return of 0.11%. Canon has a performance score of 5 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canon's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canon is expected to be smaller as well. Canon Inc right now shows a risk of 1.59%. Please confirm Canon Inc standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to decide if Canon Inc will be following its price patterns.
Auto-correlation | 0.51 |
Modest predictability
Canon Inc has modest predictability. Overlapping area represents the amount of predictability between Canon time series from 13th of November 2024 to 28th of November 2024 and 28th of November 2024 to 13th 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 Canon Inc price movement. The serial correlation of 0.51 indicates that about 51.0% of current Canon price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
Canon Inc lagged returns against current returns
Autocorrelation, which is Canon 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 Canon's stock expected returns. We can calculate the autocorrelation of Canon returns to help us make a trade decision. For example, suppose you find that Canon 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 |
Canon 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 Canon stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canon stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canon stock over time.
Current vs Lagged Prices |
| Timeline |
Canon Lagged Returns
When evaluating Canon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canon stock have on its future price. Canon 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, Canon autocorrelation shows the relationship between Canon stock current value and its past values and can show if there is a momentum factor associated with investing in Canon Inc.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Canon Stock
Canon financial ratios help investors to determine whether Canon 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 Canon with respect to the benefits of owning Canon security.