Canadian Western Bank Stock Market Value
| CWB Stock | CAD 60.21 0.31 0.52% |
| Symbol | Canadian |
Canadian Western Bank Price To Book Ratio
Canadian Western '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 Western'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 Canadian Western.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Canadian Western on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Canadian Western Bank or generate 0.0% return on investment in Canadian Western over 720 days. Canadian Western is related to or competes with Laurentian Bank, National Bank, Great West, CI Financial, and IA Financial. Canadian Western Bank provides personal and business banking products and services primarily in Western Canada More
Canadian Western 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 Western'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 Canadian Western Bank upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7278 | |||
| Information Ratio | 0.1067 | |||
| Maximum Drawdown | 3.85 | |||
| Value At Risk | (0.81) | |||
| Potential Upside | 1.53 |
Canadian Western Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Western's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Western's standard deviation. In reality, there are many statistical measures that can use Canadian Western historical prices to predict the future Canadian Western's volatility.| Risk Adjusted Performance | 0.2132 | |||
| Jensen Alpha | 0.1957 | |||
| Total Risk Alpha | 0.0793 | |||
| Sortino Ratio | 0.1176 | |||
| Treynor Ratio | 1.55 |
Canadian Western Bank Backtested Returns
Canadian Western appears to be very steady, given 3 months investment horizon. Canadian Western Bank secures Sharpe Ratio (or Efficiency) of 0.34, which signifies that the company had a 0.34% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Canadian Western Bank, which you can use to evaluate the volatility of the firm. Please makes use of Canadian Western's Risk Adjusted Performance of 0.2132, downside deviation of 0.7278, and Mean Deviation of 0.6021 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Canadian Western holds a performance score of 27. The firm shows a Beta (market volatility) of 0.14, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canadian Western's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canadian Western is expected to be smaller as well. Please check Canadian Western's total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to make a quick decision on whether Canadian Western's price patterns will revert.
Auto-correlation | 0.74 |
Good predictability
Canadian Western Bank has good predictability. Overlapping area represents the amount of predictability between Canadian Western time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Canadian Western Bank price movement. The serial correlation of 0.74 indicates that around 74.0% of current Canadian Western price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 155.3 |
Canadian Western Bank lagged returns against current returns
Autocorrelation, which is Canadian Western 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 Western's stock expected returns. We can calculate the autocorrelation of Canadian Western returns to help us make a trade decision. For example, suppose you find that Canadian Western 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 Western 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 Western stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Western stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Western stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Western Lagged Returns
When evaluating Canadian Western's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Western stock have on its future price. Canadian Western 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 Western autocorrelation shows the relationship between Canadian Western stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Western Bank.
Regressed Prices |
| Timeline |
Pair Trading with Canadian Western
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 Western 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 Western 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 Western 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 Western 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 Western - 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 Western Bank to buy it.
The correlation of Canadian Western 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 Western moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Western Bank 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 Western 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 Western 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 Western security.