Firstservice Corp Stock Market Value
| FSV Stock | CAD 270.27 2.85 1.04% |
| Symbol | FirstService |
FirstService Corp Price To Book Ratio
FirstService Corp '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 FirstService Corp'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 FirstService Corp.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in FirstService Corp on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding FirstService Corp or generate 0.0% return on investment in FirstService Corp over 720 days. FirstService Corp is related to or competes with Colliers International, Altus Group, CCL Industries, Ritchie Bros, and Stantec. FirstService Corporation, together with its subsidiaries, provides residential property services to residential and comm... More
FirstService Corp 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 FirstService Corp'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 FirstService Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.788 | |||
| Information Ratio | 0.0691 | |||
| Maximum Drawdown | 4.59 | |||
| Value At Risk | (1.16) | |||
| Potential Upside | 2.37 |
FirstService Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for FirstService Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as FirstService Corp's standard deviation. In reality, there are many statistical measures that can use FirstService Corp historical prices to predict the future FirstService Corp's volatility.| Risk Adjusted Performance | 0.1503 | |||
| Jensen Alpha | 0.1522 | |||
| Total Risk Alpha | 0.034 | |||
| Sortino Ratio | 0.0876 | |||
| Treynor Ratio | 0.6742 |
FirstService Corp Backtested Returns
As of now, FirstService Stock is very steady. FirstService Corp secures Sharpe Ratio (or Efficiency) of 0.18, which denotes the company had a 0.18% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for FirstService Corp, which you can use to evaluate the volatility of the firm. Please confirm FirstService Corp's Coefficient Of Variation of 516.5, downside deviation of 0.788, and Mean Deviation of 0.7599 to check if the risk estimate we provide is consistent with the expected return of 0.18%. FirstService Corp has a performance score of 14 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.27, which means not very significant fluctuations relative to the market. As returns on the market increase, FirstService Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding FirstService Corp is expected to be smaller as well. FirstService Corp right now shows a risk of 0.99%. Please confirm FirstService Corp semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if FirstService Corp will be following its price patterns.
Auto-correlation | 0.44 |
Average predictability
FirstService Corp has average predictability. Overlapping area represents the amount of predictability between FirstService Corp time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 to 3rd 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 FirstService Corp price movement. The serial correlation of 0.44 indicates that just about 44.0% of current FirstService Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.44 | |
| Spearman Rank Test | 0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 393.83 |
FirstService Corp lagged returns against current returns
Autocorrelation, which is FirstService Corp 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 FirstService Corp's stock expected returns. We can calculate the autocorrelation of FirstService Corp returns to help us make a trade decision. For example, suppose you find that FirstService Corp 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 |
FirstService Corp 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 FirstService Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if FirstService Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in FirstService Corp stock over time.
Current vs Lagged Prices |
| Timeline |
FirstService Corp Lagged Returns
When evaluating FirstService Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of FirstService Corp stock have on its future price. FirstService Corp 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, FirstService Corp autocorrelation shows the relationship between FirstService Corp stock current value and its past values and can show if there is a momentum factor associated with investing in FirstService Corp.
Regressed Prices |
| Timeline |
Pair Trading with FirstService Corp
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 FirstService Corp 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 FirstService Corp will appreciate offsetting losses from the drop in the long position's value.Moving against FirstService Stock
| 0.85 | TGO | TeraGo Inc | PairCorr |
| 0.58 | RHC | Royal Helium | PairCorr |
| 0.4 | GPV | GreenPower Motor | PairCorr |
| 0.34 | VGZ | Vista Gold | PairCorr |
The ability to find closely correlated positions to FirstService Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FirstService Corp 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 FirstService Corp - 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 FirstService Corp to buy it.
The correlation of FirstService Corp 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 FirstService Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FirstService 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 FirstService Corp 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.Check out FirstService Corp Correlation, FirstService Corp Volatility and FirstService Corp Alpha and Beta module to complement your research on FirstService Corp. To learn how to invest in FirstService Stock, please use our How to Invest in FirstService Corp guide.You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
FirstService Corp technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.