North West Stock Market Value
| NWC Stock | CAD 46.88 0.63 1.33% |
| Symbol | North |
North West Price To Book Ratio
North West '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 North West'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 North West.
| 11/29/2024 |
| 02/27/2025 |
If you would invest 0.00 in North West on November 29, 2024 and sell it all today you would earn a total of 0.00 from holding North West or generate 0.0% return on investment in North West over 90 days. North West is related to or competes with Empire Company, Transcontinental, Premium Brands, Exchange Income, and ATCO. The North West Company Inc., through its subsidiaries, engages in the retail of food and everyday products and services ... More
North West 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 North West'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 North West upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 6.27 | |||
| Value At Risk | (2.35) | |||
| Potential Upside | 2.1 |
North West Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for North West's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as North West's standard deviation. In reality, there are many statistical measures that can use North West historical prices to predict the future North West's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | (1.82) |
North West Backtested Returns
North West has Sharpe Ratio of -0.0814, which conveys that the firm had a -0.0814 % return per unit of risk over the last 3 months. North West exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify North West's Standard Deviation of 1.38, mean deviation of 1.03, and Risk Adjusted Performance of (0.07) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0868, which conveys not very significant fluctuations relative to the market. As returns on the market increase, North West's returns are expected to increase less than the market. However, during the bear market, the loss of holding North West is expected to be smaller as well. At this point, North West has a negative expected return of -0.11%. Please make sure to verify North West's kurtosis, as well as the relationship between the day median price and relative strength index , to decide if North West performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.28 |
Weak reverse predictability
North West has weak reverse predictability. Overlapping area represents the amount of predictability between North West time series from 29th of November 2024 to 13th of January 2025 and 13th of January 2025 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 North West price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current North West price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.5 |
North West lagged returns against current returns
Autocorrelation, which is North West 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 North West's stock expected returns. We can calculate the autocorrelation of North West returns to help us make a trade decision. For example, suppose you find that North West 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 |
North West 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 North West stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if North West stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in North West stock over time.
Current vs Lagged Prices |
| Timeline |
North West Lagged Returns
When evaluating North West's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of North West stock have on its future price. North West 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, North West autocorrelation shows the relationship between North West stock current value and its past values and can show if there is a momentum factor associated with investing in North West.
Regressed Prices |
| Timeline |
Pair Trading with North West
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 North West 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 North West will appreciate offsetting losses from the drop in the long position's value.Moving against North Stock
| 0.87 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.87 | BEP-PM | Brookfield Renewable | PairCorr |
| 0.75 | CRRX | CareRx Corp Earnings Call This Week | PairCorr |
| 0.69 | SOU | Southern Energy Corp | PairCorr |
| 0.68 | GOOG | Alphabet CDR | PairCorr |
The ability to find closely correlated positions to North West could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace North West 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 North West - 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 North West to buy it.
The correlation of North West 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 North West moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if North West 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 North West 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 North Stock
North West financial ratios help investors to determine whether North 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 North with respect to the benefits of owning North West security.