Extendicare Stock Market Value
| EXE Stock | CAD 12.93 0.18 1.41% |
| Symbol | Extendicare |
Extendicare Price To Book Ratio
Extendicare '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 Extendicare'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 Extendicare.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Extendicare on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Extendicare or generate 0.0% return on investment in Extendicare over 90 days. Extendicare is related to or competes with Sienna Senior, Chartwell Retirement, Chemtrade Logistics, NorthWest Healthcare, and Exchange Income. Extendicare Inc. provides care and services for seniors in Canada More
Extendicare 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 Extendicare'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 Extendicare upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.36 | |||
| Information Ratio | 0.2457 | |||
| Maximum Drawdown | 10.22 | |||
| Value At Risk | (1.86) | |||
| Potential Upside | 2.59 |
Extendicare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Extendicare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Extendicare's standard deviation. In reality, there are many statistical measures that can use Extendicare historical prices to predict the future Extendicare's volatility.| Risk Adjusted Performance | 0.1717 | |||
| Jensen Alpha | 0.4005 | |||
| Total Risk Alpha | 0.5657 | |||
| Sortino Ratio | 0.3278 | |||
| Treynor Ratio | 0.5887 |
Extendicare Backtested Returns
Extendicare appears to be not too volatile, given 3 months investment horizon. Extendicare secures Sharpe Ratio (or Efficiency) of 0.24, which denotes the company had a 0.24 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Extendicare, which you can use to evaluate the volatility of the firm. Please utilize Extendicare's Downside Deviation of 1.36, coefficient of variation of 522.92, and Mean Deviation of 1.28 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Extendicare holds a performance score of 18. The firm shows a Beta (market volatility) of 0.57, which means possible diversification benefits within a given portfolio. As returns on the market increase, Extendicare's returns are expected to increase less than the market. However, during the bear market, the loss of holding Extendicare is expected to be smaller as well. Please check Extendicare's expected short fall, day median price, and the relationship between the potential upside and accumulation distribution , to make a quick decision on whether Extendicare's price patterns will revert.
Auto-correlation | 0.16 |
Very weak predictability
Extendicare has very weak predictability. Overlapping area represents the amount of predictability between Extendicare time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Extendicare price movement. The serial correlation of 0.16 indicates that over 16.0% of current Extendicare price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.16 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 0.92 |
Extendicare lagged returns against current returns
Autocorrelation, which is Extendicare 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 Extendicare's stock expected returns. We can calculate the autocorrelation of Extendicare returns to help us make a trade decision. For example, suppose you find that Extendicare 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 |
Extendicare 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 Extendicare stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Extendicare stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Extendicare stock over time.
Current vs Lagged Prices |
| Timeline |
Extendicare Lagged Returns
When evaluating Extendicare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Extendicare stock have on its future price. Extendicare 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, Extendicare autocorrelation shows the relationship between Extendicare stock current value and its past values and can show if there is a momentum factor associated with investing in Extendicare.
Regressed Prices |
| Timeline |
Pair Trading with Extendicare
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 Extendicare 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 Extendicare will appreciate offsetting losses from the drop in the long position's value.Moving together with Extendicare Stock
Moving against Extendicare Stock
The ability to find closely correlated positions to Extendicare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Extendicare 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 Extendicare - 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 Extendicare to buy it.
The correlation of Extendicare 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 Extendicare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Extendicare 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 Extendicare 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 Extendicare Stock
Extendicare financial ratios help investors to determine whether Extendicare 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 Extendicare with respect to the benefits of owning Extendicare security.