Canoo Inc Stock Market Value
| GOEV Stock | USD 0.38 0.01 2.70% |
| Symbol | Canoo |
Canoo Inc Price To Book Ratio
Is Automobile Manufacturers space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canoo. If investors know Canoo will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canoo listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.72) | Revenue Per Share 0.032 | Quarterly Revenue Growth 0.717 | Return On Assets (0.25) | Return On Equity (0.73) |
The market value of Canoo Inc is measured differently than its book value, which is the value of Canoo that is recorded on the company's balance sheet. Investors also form their own opinion of Canoo's value that differs from its market value or its book value, called intrinsic value, which is Canoo's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canoo's market value can be influenced by many factors that don't directly affect Canoo's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canoo's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canoo is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canoo's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Canoo '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 Canoo'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 Canoo.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Canoo on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Canoo Inc or generate 0.0% return on investment in Canoo over 30 days. Canoo is related to or competes with Nio, Tesla, and Li Auto. Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commerci... More
Canoo 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 Canoo'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 Canoo Inc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 48.91 | |||
| Value At Risk | (16.22) | |||
| Potential Upside | 9.18 |
Canoo Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canoo's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canoo's standard deviation. In reality, there are many statistical measures that can use Canoo historical prices to predict the future Canoo's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (1.77) | |||
| Total Risk Alpha | (3.10) | |||
| Treynor Ratio | (1.26) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canoo's 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.
Canoo Inc Backtested Returns
Canoo Inc secures Sharpe Ratio (or Efficiency) of -0.2, which signifies that the company had a -0.2% return per unit of risk over the last 3 months. Canoo Inc exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Canoo's Risk Adjusted Performance of (0.13), standard deviation of 8.92, and Mean Deviation of 5.7 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.28, which signifies 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, Canoo will likely underperform. At this point, Canoo Inc has a negative expected return of -1.78%. Please make sure to confirm Canoo's potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if Canoo Inc performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.73 |
Almost perfect reverse predictability
Canoo Inc has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Canoo time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Canoo Inc price movement. The serial correlation of -0.73 indicates that around 73.0% of current Canoo price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.73 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Canoo Inc lagged returns against current returns
Autocorrelation, which is Canoo 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 Canoo's stock expected returns. We can calculate the autocorrelation of Canoo returns to help us make a trade decision. For example, suppose you find that Canoo 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 |
Canoo 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 Canoo stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canoo stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canoo stock over time.
Current vs Lagged Prices |
| Timeline |
Canoo Lagged Returns
When evaluating Canoo's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canoo stock have on its future price. Canoo 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, Canoo autocorrelation shows the relationship between Canoo stock current value and its past values and can show if there is a momentum factor associated with investing in Canoo Inc.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Canoo Stock Analysis
When running Canoo's price analysis, check to measure Canoo's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canoo is operating at the current time. Most of Canoo's value examination focuses on studying past and present price action to predict the probability of Canoo's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canoo's price. Additionally, you may evaluate how the addition of Canoo to your portfolios can decrease your overall portfolio volatility.