Westaim Corp Stock Market Value
| WED Stock | CAD 5.11 0.16 3.23% |
| Symbol | Westaim |
Westaim Corp Price To Book Ratio
Westaim Corp '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 Westaim Corp'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 Westaim Corp.
| 05/13/2023 |
| 12/03/2024 |
If you would invest 0.00 in Westaim Corp on May 13, 2023 and sell it all today you would earn a total of 0.00 from holding Westaim Corp or generate 0.0% return on investment in Westaim Corp over 570 days. Westaim Corp is related to or competes with IShares Canadian, Altagas Cum, European Residential, RBC Discount, IShares SPTSX, Harvest Tech, and Dynamic Active. The Westaim Corporation is a private equity firm specializing in direct and indirect investments through acquisitions, j... More
Westaim Corp 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 Westaim Corp'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 Westaim Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.58 | |||
| Information Ratio | 0.1192 | |||
| Maximum Drawdown | 23.13 | |||
| Value At Risk | (1.79) | |||
| Potential Upside | 3.23 |
Westaim Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Westaim Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Westaim Corp's standard deviation. In reality, there are many statistical measures that can use Westaim Corp historical prices to predict the future Westaim Corp's volatility.| Risk Adjusted Performance | 0.1353 | |||
| Jensen Alpha | 0.3495 | |||
| Total Risk Alpha | 0.0368 | |||
| Sortino Ratio | 0.1929 | |||
| Treynor Ratio | 0.6935 |
Westaim Corp Backtested Returns
Westaim Corp appears to be slightly risky, given 3 months investment horizon. Westaim Corp shows Sharpe Ratio of 0.18, which attests that the company had a 0.18% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Westaim Corp, which you can use to evaluate the volatility of the company. Please utilize Westaim Corp's Downside Deviation of 1.58, market risk adjusted performance of 0.7035, and Mean Deviation of 1.24 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Westaim Corp holds a performance score of 13. The firm maintains a market beta of 0.6, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Westaim Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Westaim Corp is expected to be smaller as well. Please check Westaim Corp's skewness, and the relationship between the potential upside and rate of daily change , to make a quick decision on whether Westaim Corp's historical returns will revert.
Auto-correlation | 0.19 |
Very weak predictability
Westaim Corp has very weak predictability. Overlapping area represents the amount of predictability between Westaim Corp time series from 13th of May 2023 to 22nd of February 2024 and 22nd of February 2024 to 3rd 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 Westaim Corp price movement. The serial correlation of 0.19 indicates that over 19.0% of current Westaim Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Westaim Corp lagged returns against current returns
Autocorrelation, which is Westaim Corp 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 Westaim Corp's stock expected returns. We can calculate the autocorrelation of Westaim Corp returns to help us make a trade decision. For example, suppose you find that Westaim Corp 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 |
Westaim Corp 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 Westaim Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Westaim Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Westaim Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Westaim Corp Lagged Returns
When evaluating Westaim Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Westaim Corp stock have on its future price. Westaim Corp 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, Westaim Corp autocorrelation shows the relationship between Westaim Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Westaim Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Westaim Stock Analysis
When running Westaim Corp's price analysis, check to measure Westaim Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Westaim Corp is operating at the current time. Most of Westaim Corp's value examination focuses on studying past and present price action to predict the probability of Westaim Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Westaim Corp's price. Additionally, you may evaluate how the addition of Westaim Corp to your portfolios can decrease your overall portfolio volatility.