Canadian Solar (Germany) Market Value
| L5A Stock | EUR 12.00 0.22 1.80% |
| Symbol | Canadian |
Canadian Solar '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 Canadian Solar'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 Canadian Solar.
| 08/19/2023 |
| 12/11/2024 |
If you would invest 0.00 in Canadian Solar on August 19, 2023 and sell it all today you would earn a total of 0.00 from holding Canadian Solar or generate 0.0% return on investment in Canadian Solar over 480 days. Canadian Solar is related to or competes with Sunrun, SMA Solar, Superior Plus, SIVERS SEMICONDUCTORS, Norsk Hydro, Reliance Steel, and RYOHIN UNSPADR1. Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, ce... More
Canadian Solar 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 Canadian Solar'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 Canadian Solar upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.58 | |||
| Information Ratio | 0.035 | |||
| Maximum Drawdown | 27.95 | |||
| Value At Risk | (7.56) | |||
| Potential Upside | 11.33 |
Canadian Solar Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Solar's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Solar's standard deviation. In reality, there are many statistical measures that can use Canadian Solar historical prices to predict the future Canadian Solar's volatility.| Risk Adjusted Performance | 0.0496 | |||
| Jensen Alpha | 0.424 | |||
| Total Risk Alpha | (0.60) | |||
| Sortino Ratio | 0.0441 | |||
| Treynor Ratio | (0.34) |
Canadian Solar Backtested Returns
At this point, Canadian Solar is slightly risky. Canadian Solar secures Sharpe Ratio (or Efficiency) of 0.0084, which signifies that the company had a 0.0084% return per unit of risk over the last 3 months. We have found thirty technical indicators for Canadian Solar, which you can use to evaluate the volatility of the firm. Please confirm Canadian Solar's Downside Deviation of 4.58, mean deviation of 4.19, and Risk Adjusted Performance of 0.0496 to double-check if the risk estimate we provide is consistent with the expected return of 0.0466%. The firm shows a Beta (market volatility) of -0.94, which signifies possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Canadian Solar are expected to decrease slowly. On the other hand, during market turmoil, Canadian Solar is expected to outperform it slightly. Canadian Solar right now shows a risk of 5.58%. Please confirm Canadian Solar jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to decide if Canadian Solar will be following its price patterns.
Auto-correlation | 0.37 |
Below average predictability
Canadian Solar has below average predictability. Overlapping area represents the amount of predictability between Canadian Solar time series from 19th of August 2023 to 15th of April 2024 and 15th of April 2024 to 11th 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 Canadian Solar price movement. The serial correlation of 0.37 indicates that just about 37.0% of current Canadian Solar price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 3.42 |
Canadian Solar lagged returns against current returns
Autocorrelation, which is Canadian Solar 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 Canadian Solar's stock expected returns. We can calculate the autocorrelation of Canadian Solar returns to help us make a trade decision. For example, suppose you find that Canadian Solar 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 |
Canadian Solar 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 Canadian Solar stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Solar stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Solar stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Solar Lagged Returns
When evaluating Canadian Solar's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Solar stock have on its future price. Canadian Solar 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, Canadian Solar autocorrelation shows the relationship between Canadian Solar stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Solar.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Canadian Stock
When determining whether Canadian Solar is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Canadian Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Canadian Solar Stock. Highlighted below are key reports to facilitate an investment decision about Canadian Solar Stock:Check out Canadian Solar Correlation, Canadian Solar Volatility and Canadian Solar Alpha and Beta module to complement your research on Canadian Solar. For more detail on how to invest in Canadian Stock please use our How to Invest in Canadian Solar guide.You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Canadian Solar 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.