Canfor (Germany) Market Value
| NKC Stock | EUR 11.80 0.10 0.84% |
| Symbol | Canfor |
Canfor '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 Canfor'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 Canfor.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in Canfor on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding Canfor or generate 0.0% return on investment in Canfor over 360 days. Canfor is related to or competes with OFFICE DEPOT, Infrastrutture Wireless, Bank of America, T-MOBILE, CITY OFFICE, Mobilezone Holding, and Highlight Communications. Canfor Corporation operates as an integrated forest products company in Canada and internationally More
Canfor 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 Canfor'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 Canfor upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.72 | |||
| Information Ratio | 0.092 | |||
| Maximum Drawdown | 11.23 | |||
| Value At Risk | (2.65) | |||
| Potential Upside | 4.35 |
Canfor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canfor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canfor's standard deviation. In reality, there are many statistical measures that can use Canfor historical prices to predict the future Canfor's volatility.| Risk Adjusted Performance | 0.1281 | |||
| Jensen Alpha | 0.2584 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | 0.1094 | |||
| Treynor Ratio | 0.7057 |
Canfor Backtested Returns
Canfor appears to be not too volatile, given 3 months investment horizon. Canfor secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Canfor, which you can use to evaluate the volatility of the firm. Please makes use of Canfor's Downside Deviation of 1.72, mean deviation of 1.56, and Risk Adjusted Performance of 0.1281 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Canfor holds a performance score of 13. The firm shows a Beta (market volatility) of 0.45, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Canfor's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canfor is expected to be smaller as well. Please check Canfor's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Canfor's price patterns will revert.
Auto-correlation | -0.68 |
Very good reverse predictability
Canfor has very good reverse predictability. Overlapping area represents the amount of predictability between Canfor time series from 7th of December 2023 to 4th of June 2024 and 4th of June 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 Canfor price movement. The serial correlation of -0.68 indicates that around 68.0% of current Canfor price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.58 |
Canfor lagged returns against current returns
Autocorrelation, which is Canfor 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 Canfor's stock expected returns. We can calculate the autocorrelation of Canfor returns to help us make a trade decision. For example, suppose you find that Canfor 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 |
Canfor 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 Canfor stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canfor stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canfor stock over time.
Current vs Lagged Prices |
| Timeline |
Canfor Lagged Returns
When evaluating Canfor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canfor stock have on its future price. Canfor 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, Canfor autocorrelation shows the relationship between Canfor stock current value and its past values and can show if there is a momentum factor associated with investing in Canfor.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Canfor Stock
Canfor financial ratios help investors to determine whether Canfor 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 Canfor with respect to the benefits of owning Canfor security.