Canlan Ice Sports Stock Market Value
| ICE Stock | CAD 4.08 0.02 0.49% |
| Symbol | Canlan |
Canlan Ice Sports Price To Book Ratio
Canlan Ice '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 Canlan Ice'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 Canlan Ice.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Canlan Ice on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Canlan Ice Sports or generate 0.0% return on investment in Canlan Ice over 30 days. Canlan Ice is related to or competes with BMTC, Caldwell Partners, TWC Enterprises, Madison Pacific, and Foraco International. Canlan Ice Sports Corp. engages in the acquisition, development, lease, and operation of multi-purpose recreation and en... More
Canlan Ice 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 Canlan Ice'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 Canlan Ice Sports upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.84 | |||
| Information Ratio | 0.0535 | |||
| Maximum Drawdown | 13.26 | |||
| Value At Risk | (2.48) | |||
| Potential Upside | 3.8 |
Canlan Ice Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canlan Ice's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canlan Ice's standard deviation. In reality, there are many statistical measures that can use Canlan Ice historical prices to predict the future Canlan Ice's volatility.| Risk Adjusted Performance | 0.0973 | |||
| Jensen Alpha | 0.1599 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0266 | |||
| Treynor Ratio | 0.4349 |
Canlan Ice Sports Backtested Returns
As of now, Canlan Stock is slightly risky. Canlan Ice Sports secures Sharpe Ratio (or Efficiency) of 0.0682, which signifies that the company had a 0.0682% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Canlan Ice Sports, which you can use to evaluate the volatility of the firm. Please confirm Canlan Ice's Mean Deviation of 0.9232, risk adjusted performance of 0.0973, and Downside Deviation of 3.84 to double-check if the risk estimate we provide is consistent with the expected return of 0.12%. Canlan Ice has a performance score of 5 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.5, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Canlan Ice's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canlan Ice is expected to be smaller as well. Canlan Ice Sports right now shows a risk of 1.75%. Please confirm Canlan Ice Sports total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to decide if Canlan Ice Sports will be following its price patterns.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Canlan Ice Sports has insignificant reverse predictability. Overlapping area represents the amount of predictability between Canlan Ice time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Canlan Ice Sports price movement. The serial correlation of -0.19 indicates that over 19.0% of current Canlan Ice price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Canlan Ice Sports lagged returns against current returns
Autocorrelation, which is Canlan Ice 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 Canlan Ice's stock expected returns. We can calculate the autocorrelation of Canlan Ice returns to help us make a trade decision. For example, suppose you find that Canlan Ice 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 |
Canlan Ice 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 Canlan Ice stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canlan Ice stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canlan Ice stock over time.
Current vs Lagged Prices |
| Timeline |
Canlan Ice Lagged Returns
When evaluating Canlan Ice's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canlan Ice stock have on its future price. Canlan Ice 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, Canlan Ice autocorrelation shows the relationship between Canlan Ice stock current value and its past values and can show if there is a momentum factor associated with investing in Canlan Ice Sports.
Regressed Prices |
| Timeline |
Pair Trading with Canlan Ice
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 Canlan Ice 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 Canlan Ice will appreciate offsetting losses from the drop in the long position's value.Moving together with Canlan Stock
The ability to find closely correlated positions to Canlan Ice could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canlan Ice 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 Canlan Ice - 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 Canlan Ice Sports to buy it.
The correlation of Canlan Ice 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 Canlan Ice moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canlan Ice Sports 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 Canlan Ice 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 Canlan Stock
Canlan Ice financial ratios help investors to determine whether Canlan 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 Canlan with respect to the benefits of owning Canlan Ice security.