Exro Technologies Stock Market Value
| EXRO Stock | 0.14 0.02 12.50% |
| Symbol | Exro |
Exro Technologies Price To Book Ratio
Exro 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 Exro 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 Exro Technologies.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Exro Technologies on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Exro Technologies or generate 0.0% return on investment in Exro Technologies over 30 days. Exro Technologies is related to or competes with Nano One, and PyroGenesis Canada. Exro Technologies is entity of Canada. It is traded as Stock on TO exchange. More
Exro 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 Exro 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 Exro Technologies upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 53.33 | |||
| Value At Risk | (13.04) | |||
| Potential Upside | 18.52 |
Exro Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Exro Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Exro Technologies' standard deviation. In reality, there are many statistical measures that can use Exro Technologies historical prices to predict the future Exro Technologies' volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (1.73) | |||
| Total Risk Alpha | (2.50) | |||
| Treynor Ratio | (0.21) |
Exro Technologies Backtested Returns
Exro Technologies secures Sharpe Ratio (or Efficiency) of -0.0824, which denotes the company had a -0.0824% return per unit of risk over the last 3 months. Exro Technologies exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Exro Technologies' Mean Deviation of 7.15, variance of 100.07, and Standard Deviation of 10.0 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 5.59, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Exro Technologies will likely underperform. At this point, Exro Technologies has a negative expected return of -0.8%. Please make sure to confirm Exro Technologies' treynor ratio, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if Exro Technologies performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.04 |
Virtually no predictability
Exro Technologies has virtually no predictability. Overlapping area represents the amount of predictability between Exro Technologies time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Exro Technologies price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Exro Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Exro Technologies lagged returns against current returns
Autocorrelation, which is Exro 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 Exro Technologies' stock expected returns. We can calculate the autocorrelation of Exro Technologies returns to help us make a trade decision. For example, suppose you find that Exro 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 |
Exro 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 Exro Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Exro Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Exro Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Exro Technologies Lagged Returns
When evaluating Exro Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Exro Technologies stock have on its future price. Exro 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, Exro Technologies autocorrelation shows the relationship between Exro Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Exro Technologies.
Regressed Prices |
| Timeline |
Pair Trading with Exro 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 Exro 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 Exro Technologies will appreciate offsetting losses from the drop in the long position's value.Moving against Exro Stock
| 0.82 | NXE | NexGen Energy | PairCorr |
| 0.74 | ASM | Avino Silver Gold | PairCorr |
| 0.6 | CNQ | Canadian Natural Res | PairCorr |
| 0.42 | ECN | ECN Capital Corp | PairCorr |
| 0.39 | BIP-PB | Brookfield Infrastructure | PairCorr |
The ability to find closely correlated positions to Exro 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 Exro 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 Exro 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 Exro Technologies to buy it.
The correlation of Exro 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 Exro Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Exro 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 Exro 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 Exro Stock
Exro Technologies financial ratios help investors to determine whether Exro 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 Exro with respect to the benefits of owning Exro Technologies security.