Goodfood Market Corp Stock Market Value
| FOOD Stock | CAD 0.45 0.01 2.27% |
| Symbol | Goodfood |
Goodfood Market Corp Price To Book Ratio
Goodfood Market '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 Goodfood Market'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 Goodfood Market.
| 12/11/2022 |
| 11/30/2024 |
If you would invest 0.00 in Goodfood Market on December 11, 2022 and sell it all today you would earn a total of 0.00 from holding Goodfood Market Corp or generate 0.0% return on investment in Goodfood Market over 720 days. Goodfood Market is related to or competes with WELL Health, Lightspeed Commerce, IShares Canadian, Altagas Cum, European Residential, RBC Discount, and IShares SPTSX. Goodfood Market Corp., an online grocery company, delivers fresh meals and grocery products in Canada More
Goodfood Market 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 Goodfood Market'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 Goodfood Market Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.66 | |||
| Information Ratio | 0.15 | |||
| Maximum Drawdown | 28.13 | |||
| Value At Risk | (3.85) | |||
| Potential Upside | 10.0 |
Goodfood Market Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodfood Market's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodfood Market's standard deviation. In reality, there are many statistical measures that can use Goodfood Market historical prices to predict the future Goodfood Market's volatility.| Risk Adjusted Performance | 0.1463 | |||
| Jensen Alpha | 0.8623 | |||
| Total Risk Alpha | 0.0511 | |||
| Sortino Ratio | 0.1849 | |||
| Treynor Ratio | (1.80) |
Goodfood Market Corp Backtested Returns
Goodfood Market appears to be out of control, given 3 months investment horizon. Goodfood Market Corp holds Efficiency (Sharpe) Ratio of 0.2, which attests that the entity had a 0.2% return per unit of risk over the last 3 months. By evaluating Goodfood Market's technical indicators, you can evaluate if the expected return of 0.91% is justified by implied risk. Please utilize Goodfood Market's Market Risk Adjusted Performance of (1.79), downside deviation of 3.66, and Risk Adjusted Performance of 0.1463 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Goodfood Market holds a performance score of 15. The company retains a Market Volatility (i.e., Beta) of -0.45, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Goodfood Market are expected to decrease at a much lower rate. During the bear market, Goodfood Market is likely to outperform the market. Please check Goodfood Market's standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to make a quick decision on whether Goodfood Market's current trending patterns will revert.
Auto-correlation | -0.39 |
Poor reverse predictability
Goodfood Market Corp has poor reverse predictability. Overlapping area represents the amount of predictability between Goodfood Market time series from 11th of December 2022 to 6th of December 2023 and 6th of December 2023 to 30th of November 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 Goodfood Market Corp price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Goodfood Market price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Goodfood Market Corp lagged returns against current returns
Autocorrelation, which is Goodfood Market 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 Goodfood Market's stock expected returns. We can calculate the autocorrelation of Goodfood Market returns to help us make a trade decision. For example, suppose you find that Goodfood Market 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 |
Goodfood Market 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 Goodfood Market stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodfood Market stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodfood Market stock over time.
Current vs Lagged Prices |
| Timeline |
Goodfood Market Lagged Returns
When evaluating Goodfood Market's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodfood Market stock have on its future price. Goodfood Market 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, Goodfood Market autocorrelation shows the relationship between Goodfood Market stock current value and its past values and can show if there is a momentum factor associated with investing in Goodfood Market Corp.
Regressed Prices |
| Timeline |
Pair Trading with Goodfood Market
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 Goodfood Market 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 Goodfood Market will appreciate offsetting losses from the drop in the long position's value.Moving together with Goodfood Stock
The ability to find closely correlated positions to Goodfood Market could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goodfood Market 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 Goodfood Market - 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 Goodfood Market Corp to buy it.
The correlation of Goodfood Market 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 Goodfood Market moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Goodfood Market Corp 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 Goodfood Market 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 Goodfood Stock
Goodfood Market financial ratios help investors to determine whether Goodfood 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 Goodfood with respect to the benefits of owning Goodfood Market security.