Canoe Eit Income Stock Market Value
| EIT-UN Stock | CAD 15.07 0.21 1.37% |
| Symbol | Canoe |
Canoe EIT Income Price To Book Ratio
Canoe EIT '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 Canoe EIT'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 Canoe EIT.
| 06/24/2024 |
| 12/21/2024 |
If you would invest 0.00 in Canoe EIT on June 24, 2024 and sell it all today you would earn a total of 0.00 from holding Canoe EIT Income or generate 0.0% return on investment in Canoe EIT over 180 days. Canoe EIT is related to or competes with MINT Income, Canadian High, Blue Ribbon, and Australian REIT. Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP More
Canoe EIT 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 Canoe EIT'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 Canoe EIT Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5007 | |||
| Information Ratio | 0.0971 | |||
| Maximum Drawdown | 3.51 | |||
| Value At Risk | (0.65) | |||
| Potential Upside | 1.02 |
Canoe EIT Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canoe EIT's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canoe EIT's standard deviation. In reality, there are many statistical measures that can use Canoe EIT historical prices to predict the future Canoe EIT's volatility.| Risk Adjusted Performance | 0.1178 | |||
| Jensen Alpha | 0.0711 | |||
| Total Risk Alpha | 0.0615 | |||
| Sortino Ratio | 0.1104 | |||
| Treynor Ratio | 0.2681 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canoe EIT'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.
Canoe EIT Income Backtested Returns
At this point, Canoe EIT is very steady. Canoe EIT Income secures Sharpe Ratio (or Efficiency) of 0.17, which signifies that the company had a 0.17% return per unit of risk over the last 3 months. We have found thirty technical indicators for Canoe EIT Income, which you can use to evaluate the volatility of the firm. Please confirm Canoe EIT's Downside Deviation of 0.5007, risk adjusted performance of 0.1178, and Mean Deviation of 0.4126 to double-check if the risk estimate we provide is consistent with the expected return of 0.0964%. Canoe EIT has a performance score of 13 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.29, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canoe EIT's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canoe EIT is expected to be smaller as well. Canoe EIT Income right now shows a risk of 0.57%. Please confirm Canoe EIT Income sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Canoe EIT Income will be following its price patterns.
Auto-correlation | 0.88 |
Very good predictability
Canoe EIT Income has very good predictability. Overlapping area represents the amount of predictability between Canoe EIT time series from 24th of June 2024 to 22nd of September 2024 and 22nd of September 2024 to 21st 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 Canoe EIT Income price movement. The serial correlation of 0.88 indicates that approximately 88.0% of current Canoe EIT price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.88 | |
| Spearman Rank Test | 0.87 | |
| Residual Average | 0.0 | |
| Price Variance | 0.21 |
Canoe EIT Income lagged returns against current returns
Autocorrelation, which is Canoe EIT 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 Canoe EIT's stock expected returns. We can calculate the autocorrelation of Canoe EIT returns to help us make a trade decision. For example, suppose you find that Canoe EIT 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 |
Canoe EIT 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 Canoe EIT stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canoe EIT stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canoe EIT stock over time.
Current vs Lagged Prices |
| Timeline |
Canoe EIT Lagged Returns
When evaluating Canoe EIT's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canoe EIT stock have on its future price. Canoe EIT 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, Canoe EIT autocorrelation shows the relationship between Canoe EIT stock current value and its past values and can show if there is a momentum factor associated with investing in Canoe EIT Income.
Regressed Prices |
| Timeline |
Pair Trading with Canoe EIT
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 Canoe EIT 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 Canoe EIT will appreciate offsetting losses from the drop in the long position's value.Moving together with Canoe Stock
Moving against Canoe Stock
The ability to find closely correlated positions to Canoe EIT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canoe EIT 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 Canoe EIT - 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 Canoe EIT Income to buy it.
The correlation of Canoe EIT 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 Canoe EIT moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canoe EIT Income 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 Canoe EIT 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 Canoe Stock
Canoe EIT financial ratios help investors to determine whether Canoe 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 Canoe with respect to the benefits of owning Canoe EIT security.