Canadian Utilities Limited Stock Market Value
| CU Stock | CAD 35.94 0.08 0.22% |
| Symbol | Canadian |
Canadian Utilities Price To Book Ratio
Canadian Utilities '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 Canadian Utilities' 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 Canadian Utilities.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Canadian Utilities on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Canadian Utilities Limited or generate 0.0% return on investment in Canadian Utilities over 540 days. Canadian Utilities is related to or competes with Fortis, Emera, Algonquin Power, ATCO, and Capital Power. Canadian Utilities Limited and its subsidiaries engage in the electricity, natural gas, and retail energy businesses wor... More
Canadian Utilities 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 Canadian Utilities' 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 Canadian Utilities Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8296 | |||
| Information Ratio | 0.0044 | |||
| Maximum Drawdown | 4.46 | |||
| Value At Risk | (1.33) | |||
| Potential Upside | 1.47 |
Canadian Utilities Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Utilities' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Utilities' standard deviation. In reality, there are many statistical measures that can use Canadian Utilities historical prices to predict the future Canadian Utilities' volatility.| Risk Adjusted Performance | 0.1161 | |||
| Jensen Alpha | 0.1106 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.0046 | |||
| Treynor Ratio | 1.61 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canadian Utilities' 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.
Canadian Utilities Backtested Returns
As of now, Canadian Stock is very steady. Canadian Utilities secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the company had a 0.12% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Canadian Utilities Limited, which you can use to evaluate the volatility of the firm. Please confirm Canadian Utilities' Mean Deviation of 0.6669, downside deviation of 0.8296, and Risk Adjusted Performance of 0.1161 to double-check if the risk estimate we provide is consistent with the expected return of 0.11%. Canadian Utilities has a performance score of 9 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.0741, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canadian Utilities' returns are expected to increase less than the market. However, during the bear market, the loss of holding Canadian Utilities is expected to be smaller as well. Canadian Utilities right now shows a risk of 0.87%. Please confirm Canadian Utilities semi variance, and the relationship between the treynor ratio and daily balance of power , to decide if Canadian Utilities will be following its price patterns.
Auto-correlation | 0.00 |
No correlation between past and present
Canadian Utilities Limited has no correlation between past and present. Overlapping area represents the amount of predictability between Canadian Utilities time series from 8th of June 2023 to 4th of March 2024 and 4th of March 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 Canadian Utilities price movement. The serial correlation of 0.0 indicates that just 0.0% of current Canadian Utilities price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 6.51 |
Canadian Utilities lagged returns against current returns
Autocorrelation, which is Canadian Utilities 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 Canadian Utilities' stock expected returns. We can calculate the autocorrelation of Canadian Utilities returns to help us make a trade decision. For example, suppose you find that Canadian Utilities 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 |
Canadian Utilities 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 Canadian Utilities stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Utilities stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Utilities stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Utilities Lagged Returns
When evaluating Canadian Utilities' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Utilities stock have on its future price. Canadian Utilities 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, Canadian Utilities autocorrelation shows the relationship between Canadian Utilities stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Utilities Limited.
Regressed Prices |
| Timeline |
Pair Trading with Canadian Utilities
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 Canadian Utilities 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 Canadian Utilities will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
The ability to find closely correlated positions to Canadian Utilities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Utilities 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 Canadian Utilities - 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 Canadian Utilities Limited to buy it.
The correlation of Canadian Utilities 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 Canadian Utilities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Utilities 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 Canadian Utilities 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 Canadian Stock
Canadian Utilities financial ratios help investors to determine whether Canadian 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 Canadian with respect to the benefits of owning Canadian Utilities security.