Magna International Stock Market Value
| MG Stock | CAD 53.59 1.20 2.19% |
| Symbol | Magna |
Magna International Price To Book Ratio
Magna International '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 Magna International'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 Magna International.
| 03/10/2023 |
| 02/27/2025 |
If you would invest 0.00 in Magna International on March 10, 2023 and sell it all today you would earn a total of 0.00 from holding Magna International or generate 0.0% return on investment in Magna International over 720 days. Magna International is related to or competes with Canadian National, Nutrien, Restaurant Brands, Canadian Pacific, and Fortis. Magna International Inc. designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules f... More
Magna International 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 Magna International'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 Magna International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 9.35 | |||
| Value At Risk | (4.09) | |||
| Potential Upside | 2.18 |
Magna International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Magna International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Magna International's standard deviation. In reality, there are many statistical measures that can use Magna International historical prices to predict the future Magna International's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.16) | |||
| Treynor Ratio | (0.27) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Magna International'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.
Magna International Backtested Returns
Magna International has Sharpe Ratio of -0.16, which conveys that the firm had a -0.16 % return per unit of risk over the last 3 months. Magna International exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Magna International's Risk Adjusted Performance of (0.06), standard deviation of 1.76, and Mean Deviation of 1.22 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.65, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Magna International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Magna International is expected to be smaller as well. At this point, Magna International has a negative expected return of -0.27%. Please make sure to verify Magna International's maximum drawdown, as well as the relationship between the accumulation distribution and price action indicator , to decide if Magna International performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.38 |
Poor reverse predictability
Magna International has poor reverse predictability. Overlapping area represents the amount of predictability between Magna International time series from 10th of March 2023 to 4th of March 2024 and 4th of March 2024 to 27th of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Magna International price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Magna International price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 25.24 |
Magna International lagged returns against current returns
Autocorrelation, which is Magna International 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 Magna International's stock expected returns. We can calculate the autocorrelation of Magna International returns to help us make a trade decision. For example, suppose you find that Magna International 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 |
Magna International 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 Magna International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Magna International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Magna International stock over time.
Current vs Lagged Prices |
| Timeline |
Magna International Lagged Returns
When evaluating Magna International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Magna International stock have on its future price. Magna International 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, Magna International autocorrelation shows the relationship between Magna International stock current value and its past values and can show if there is a momentum factor associated with investing in Magna International.
Regressed Prices |
| Timeline |
Pair Trading with Magna International
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 Magna International 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 Magna International will appreciate offsetting losses from the drop in the long position's value.Moving together with Magna Stock
Moving against Magna Stock
| 0.89 | BEP-PM | Brookfield Renewable | PairCorr |
| 0.85 | CRRX | CareRx Corp Earnings Call This Week | PairCorr |
| 0.77 | ATX | ATEX Resources | PairCorr |
| 0.75 | BA | BOEING CDR | PairCorr |
| 0.71 | ENB-PFC | Enbridge Pref 11 | PairCorr |
The ability to find closely correlated positions to Magna International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Magna International 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 Magna International - 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 Magna International to buy it.
The correlation of Magna International 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 Magna International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Magna International 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 Magna International 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 Magna International Correlation, Magna International Volatility and Magna International Alpha and Beta module to complement your research on Magna International. To learn how to invest in Magna Stock, please use our How to Invest in Magna International guide.You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Magna International 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.