Cannara Biotech Stock Market Value
| LOVE Stock | CAD 0.80 0.12 17.65% |
| Symbol | Cannara |
Cannara Biotech Price To Book Ratio
Cannara Biotech '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 Cannara Biotech'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 Cannara Biotech.
| 12/31/2022 |
| 12/20/2024 |
If you would invest 0.00 in Cannara Biotech on December 31, 2022 and sell it all today you would earn a total of 0.00 from holding Cannara Biotech or generate 0.0% return on investment in Cannara Biotech over 720 days. Cannara Biotech is related to or competes with Lion Electric, and Rubicon Organics. Cannara Biotech Inc., together with its subsidiaries, engages in the indoor cultivation, processing, and sale of cannabi... More
Cannara Biotech 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 Cannara Biotech'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 Cannara Biotech upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.8 | |||
| Information Ratio | 0.076 | |||
| Maximum Drawdown | 33.46 | |||
| Value At Risk | (7.69) | |||
| Potential Upside | 12.86 |
Cannara Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cannara Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cannara Biotech's standard deviation. In reality, there are many statistical measures that can use Cannara Biotech historical prices to predict the future Cannara Biotech's volatility.| Risk Adjusted Performance | 0.0734 | |||
| Jensen Alpha | 0.4839 | |||
| Total Risk Alpha | 0.3104 | |||
| Sortino Ratio | 0.069 | |||
| Treynor Ratio | 1.36 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cannara Biotech'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.
Cannara Biotech Backtested Returns
Cannara Biotech appears to be out of control, given 3 months investment horizon. Cannara Biotech secures Sharpe Ratio (or Efficiency) of 0.0949, which signifies that the company had a 0.0949% return per unit of risk over the last 3 months. By analyzing Cannara Biotech's technical indicators, you can evaluate if the expected return of 0.59% is justified by implied risk. Please makes use of Cannara Biotech's Mean Deviation of 4.28, downside deviation of 6.8, and Risk Adjusted Performance of 0.0734 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Cannara Biotech holds a performance score of 7. The firm shows a Beta (market volatility) of 0.36, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cannara Biotech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cannara Biotech is expected to be smaller as well. Please check Cannara Biotech's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Cannara Biotech's price patterns will revert.
Auto-correlation | -0.48 |
Modest reverse predictability
Cannara Biotech has modest reverse predictability. Overlapping area represents the amount of predictability between Cannara Biotech time series from 31st of December 2022 to 26th of December 2023 and 26th of December 2023 to 20th 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 Cannara Biotech price movement. The serial correlation of -0.48 indicates that about 48.0% of current Cannara Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Cannara Biotech lagged returns against current returns
Autocorrelation, which is Cannara Biotech 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 Cannara Biotech's stock expected returns. We can calculate the autocorrelation of Cannara Biotech returns to help us make a trade decision. For example, suppose you find that Cannara Biotech 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 |
Cannara Biotech 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 Cannara Biotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cannara Biotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cannara Biotech stock over time.
Current vs Lagged Prices |
| Timeline |
Cannara Biotech Lagged Returns
When evaluating Cannara Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cannara Biotech stock have on its future price. Cannara Biotech 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, Cannara Biotech autocorrelation shows the relationship between Cannara Biotech stock current value and its past values and can show if there is a momentum factor associated with investing in Cannara Biotech.
Regressed Prices |
| Timeline |
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Additional Tools for Cannara Stock Analysis
When running Cannara Biotech's price analysis, check to measure Cannara Biotech'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 Cannara Biotech is operating at the current time. Most of Cannara Biotech's value examination focuses on studying past and present price action to predict the probability of Cannara Biotech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cannara Biotech's price. Additionally, you may evaluate how the addition of Cannara Biotech to your portfolios can decrease your overall portfolio volatility.