Taiga Building Products Stock Market Value
| TBL Stock | CAD 3.84 0.09 2.40% |
| Symbol | Taiga |
Taiga Building Products Price To Book Ratio
Taiga Building '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 Taiga Building'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 Taiga Building.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Taiga Building on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Taiga Building Products or generate 0.0% return on investment in Taiga Building over 90 days. Taiga Building is related to or competes with Goodfellow, Conifex Timber, Supremex, Western Forest, and Interfor Corp. Taiga Building Products Ltd. operates as a wholesale distributor of building products in Canada and the United States More
Taiga Building 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 Taiga Building'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 Taiga Building Products upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.34 | |||
| Information Ratio | 0.0794 | |||
| Maximum Drawdown | 6.73 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 2.4 |
Taiga Building Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taiga Building's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taiga Building's standard deviation. In reality, there are many statistical measures that can use Taiga Building historical prices to predict the future Taiga Building's volatility.| Risk Adjusted Performance | 0.0063 | |||
| Jensen Alpha | 0.044 | |||
| Total Risk Alpha | 0.1576 | |||
| Sortino Ratio | 0.077 | |||
| Treynor Ratio | (0.01) |
Taiga Building Products Backtested Returns
As of now, Taiga Stock is somewhat reliable. Taiga Building Products owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0294, which indicates the firm had a 0.0294 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Taiga Building Products, which you can use to evaluate the volatility of the company. Please validate Taiga Building's Coefficient Of Variation of 29704.86, risk adjusted performance of 0.0063, and Semi Deviation of 1.04 to confirm if the risk estimate we provide is consistent with the expected return of 0.0378%. Taiga Building has a performance score of 2 on a scale of 0 to 100. The entity has a beta of 0.46, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Taiga Building's returns are expected to increase less than the market. However, during the bear market, the loss of holding Taiga Building is expected to be smaller as well. Taiga Building Products right now has a risk of 1.29%. Please validate Taiga Building sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Taiga Building will be following its existing price patterns.
Auto-correlation | -0.61 |
Very good reverse predictability
Taiga Building Products has very good reverse predictability. Overlapping area represents the amount of predictability between Taiga Building time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 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 Taiga Building Products price movement. The serial correlation of -0.61 indicates that roughly 61.0% of current Taiga Building price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.61 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Taiga Building Products lagged returns against current returns
Autocorrelation, which is Taiga Building 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 Taiga Building's stock expected returns. We can calculate the autocorrelation of Taiga Building returns to help us make a trade decision. For example, suppose you find that Taiga Building 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 |
Taiga Building 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 Taiga Building stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taiga Building stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taiga Building stock over time.
Current vs Lagged Prices |
| Timeline |
Taiga Building Lagged Returns
When evaluating Taiga Building's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taiga Building stock have on its future price. Taiga Building 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, Taiga Building autocorrelation shows the relationship between Taiga Building stock current value and its past values and can show if there is a momentum factor associated with investing in Taiga Building Products.
Regressed Prices |
| Timeline |
Pair Trading with Taiga Building
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 Taiga Building 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 Taiga Building will appreciate offsetting losses from the drop in the long position's value.Moving against Taiga Stock
| 0.47 | AG | First Majestic Silver | PairCorr |
| 0.47 | INFM | Infinico Metals Corp | PairCorr |
| 0.4 | FDY | Faraday Copper Corp | PairCorr |
The ability to find closely correlated positions to Taiga Building could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiga Building 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 Taiga Building - 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 Taiga Building Products to buy it.
The correlation of Taiga Building 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 Taiga Building moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiga Building Products 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 Taiga Building 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 Taiga Stock
Taiga Building financial ratios help investors to determine whether Taiga 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 Taiga with respect to the benefits of owning Taiga Building security.