Evertz Technologies Limited Stock Market Value
| ET Stock | CAD 12.15 0.19 1.54% |
| Symbol | Evertz |
Evertz Technologies Price To Book Ratio
Evertz Technologies '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 Evertz Technologies' 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 Evertz Technologies.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Evertz Technologies on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Evertz Technologies Limited or generate 0.0% return on investment in Evertz Technologies over 720 days. Evertz Technologies is related to or competes with Computer Modelling, Descartes Systems, TECSYS, Exco Technologies, and North West. Evertz Technologies Limited engages in the design, manufacture, and distribution of video and audio infrastructure solut... More
Evertz Technologies 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 Evertz Technologies' 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 Evertz Technologies Limited upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 18.99 | |||
| Value At Risk | (1.94) | |||
| Potential Upside | 2.64 |
Evertz Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Evertz Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Evertz Technologies' standard deviation. In reality, there are many statistical measures that can use Evertz Technologies historical prices to predict the future Evertz Technologies' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | 8.1 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Evertz Technologies' 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.
Evertz Technologies Backtested Returns
Evertz Technologies secures Sharpe Ratio (or Efficiency) of -0.0634, which denotes the company had a -0.0634% return per unit of risk over the last 3 months. Evertz Technologies Limited exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Evertz Technologies' Standard Deviation of 2.3, mean deviation of 1.26, and Variance of 5.27 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.008, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Evertz Technologies are expected to decrease at a much lower rate. During the bear market, Evertz Technologies is likely to outperform the market. At this point, Evertz Technologies has a negative expected return of -0.14%. Please make sure to confirm Evertz Technologies' treynor ratio, as well as the relationship between the kurtosis and day typical price , to decide if Evertz Technologies performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.54 |
Good reverse predictability
Evertz Technologies Limited has good reverse predictability. Overlapping area represents the amount of predictability between Evertz Technologies 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 Evertz Technologies price movement. The serial correlation of -0.54 indicates that about 54.0% of current Evertz Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.54 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.74 |
Evertz Technologies lagged returns against current returns
Autocorrelation, which is Evertz Technologies 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 Evertz Technologies' stock expected returns. We can calculate the autocorrelation of Evertz Technologies returns to help us make a trade decision. For example, suppose you find that Evertz Technologies 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 |
Evertz Technologies 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 Evertz Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Evertz Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Evertz Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Evertz Technologies Lagged Returns
When evaluating Evertz Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Evertz Technologies stock have on its future price. Evertz Technologies 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, Evertz Technologies autocorrelation shows the relationship between Evertz Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Evertz Technologies Limited.
Regressed Prices |
| Timeline |
Pair Trading with Evertz Technologies
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 Evertz Technologies 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 Evertz Technologies will appreciate offsetting losses from the drop in the long position's value.Moving against Evertz Stock
| 0.45 | MSFT | Microsoft Corp CDR | PairCorr |
| 0.41 | IBM | International Business | PairCorr |
| 0.38 | GOOG | Alphabet CDR | PairCorr |
| 0.38 | AMZN | Amazon CDR | PairCorr |
The ability to find closely correlated positions to Evertz Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evertz Technologies 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 Evertz Technologies - 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 Evertz Technologies Limited to buy it.
The correlation of Evertz Technologies 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 Evertz Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evertz Technologies 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 Evertz Technologies 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 Evertz Stock
Evertz Technologies financial ratios help investors to determine whether Evertz 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 Evertz with respect to the benefits of owning Evertz Technologies security.