Toromont Industries Stock Market Value
| TIH Stock | CAD 121.10 1.81 1.47% |
| Symbol | Toromont |
Toromont Industries Price To Book Ratio
Toromont Industries '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 Toromont Industries' 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 Toromont Industries.
| 01/19/2025 |
| 02/18/2025 |
If you would invest 0.00 in Toromont Industries on January 19, 2025 and sell it all today you would earn a total of 0.00 from holding Toromont Industries or generate 0.0% return on investment in Toromont Industries over 30 days. Toromont Industries is related to or competes with Finning International, Stantec, Ritchie Bros, CCL Industries, and Thomson Reuters. Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally More
Toromont Industries 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 Toromont Industries' 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 Toromont Industries upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8676 | |||
| Information Ratio | 0.0362 | |||
| Maximum Drawdown | 6.46 | |||
| Value At Risk | (1.38) | |||
| Potential Upside | 1.96 |
Toromont Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Toromont Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Toromont Industries' standard deviation. In reality, there are many statistical measures that can use Toromont Industries historical prices to predict the future Toromont Industries' volatility.| Risk Adjusted Performance | 0.0364 | |||
| Jensen Alpha | 0.0395 | |||
| Total Risk Alpha | 0.0381 | |||
| Sortino Ratio | 0.0446 | |||
| Treynor Ratio | 0.1427 |
Toromont Industries Backtested Returns
As of now, Toromont Stock is very steady. Toromont Industries owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0832, which indicates the firm had a 0.0832 % return per unit of risk over the last 3 months. We have found thirty technical indicators for Toromont Industries, which you can use to evaluate the volatility of the company. Please validate Toromont Industries' Semi Deviation of 0.8137, coefficient of variation of 2146.79, and Risk Adjusted Performance of 0.0364 to confirm if the risk estimate we provide is consistent with the expected return of 0.0904%. Toromont Industries has a performance score of 6 on a scale of 0 to 100. The entity has a beta of 0.28, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Toromont Industries' returns are expected to increase less than the market. However, during the bear market, the loss of holding Toromont Industries is expected to be smaller as well. Toromont Industries right now has a risk of 1.09%. Please validate Toromont Industries expected short fall, and the relationship between the value at risk and daily balance of power , to decide if Toromont Industries will be following its existing price patterns.
Auto-correlation | -0.28 |
Weak reverse predictability
Toromont Industries has weak reverse predictability. Overlapping area represents the amount of predictability between Toromont Industries time series from 19th of January 2025 to 3rd of February 2025 and 3rd of February 2025 to 18th 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 Toromont Industries price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Toromont Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 7.31 |
Toromont Industries lagged returns against current returns
Autocorrelation, which is Toromont Industries 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 Toromont Industries' stock expected returns. We can calculate the autocorrelation of Toromont Industries returns to help us make a trade decision. For example, suppose you find that Toromont Industries 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 |
Toromont Industries 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 Toromont Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Toromont Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Toromont Industries stock over time.
Current vs Lagged Prices |
| Timeline |
Toromont Industries Lagged Returns
When evaluating Toromont Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Toromont Industries stock have on its future price. Toromont Industries 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, Toromont Industries autocorrelation shows the relationship between Toromont Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Toromont Industries.
Regressed Prices |
| Timeline |
Pair Trading with Toromont Industries
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 Toromont Industries 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 Toromont Industries will appreciate offsetting losses from the drop in the long position's value.Moving against Toromont Stock
The ability to find closely correlated positions to Toromont Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Toromont Industries 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 Toromont Industries - 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 Toromont Industries to buy it.
The correlation of Toromont Industries 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 Toromont Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Toromont Industries 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 Toromont Industries 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 Toromont Stock
Toromont Industries financial ratios help investors to determine whether Toromont 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 Toromont with respect to the benefits of owning Toromont Industries security.