Canadian TireLimited's market value is the price at which a share of Canadian TireLimited trades on a public exchange. It measures the collective expectations of Canadian Tire investors about its performance. Canadian TireLimited is trading at 104.20 as of the 7th of January 2025. This is a 0.48 percent increase since the beginning of the trading day. The stock's lowest day price was 104.2. With this module, you can estimate the performance of a buy and hold strategy of Canadian Tire and determine expected loss or profit from investing in Canadian TireLimited over a given investment horizon. Check out Canadian TireLimited Correlation, Canadian TireLimited Volatility and Canadian TireLimited Alpha and Beta module to complement your research on Canadian TireLimited.
Please note, there is a significant difference between Canadian TireLimited's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian TireLimited is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian TireLimited's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Canadian TireLimited '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 Canadian TireLimited'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 Canadian TireLimited.
0.00
12/08/2024
No Change 0.00
0.0
In 31 days
01/07/2025
0.00
If you would invest 0.00 in Canadian TireLimited on December 8, 2024 and sell it all today you would earn a total of 0.00 from holding Canadian Tire or generate 0.0% return on investment in Canadian TireLimited over 30 days. Canadian TireLimited is related to or competes with China Resources, UNIVERSAL DISPLAY, PLAYTECH, PLAY2CHILL, COLUMBIA SPORTSWEAR, and Playtech Plc. Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada More
Canadian TireLimited 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 Canadian TireLimited'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 Canadian Tire upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian TireLimited's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian TireLimited's standard deviation. In reality, there are many statistical measures that can use Canadian TireLimited historical prices to predict the future Canadian TireLimited's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Canadian TireLimited. Your research has to be compared to or analyzed against Canadian TireLimited's peers to derive any actionable benefits. When done correctly, Canadian TireLimited's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Canadian TireLimited.
Canadian TireLimited Backtested Returns
At this point, Canadian TireLimited is very steady. Canadian TireLimited secures Sharpe Ratio (or Efficiency) of 0.0086, which signifies that the company had a 0.0086% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Canadian Tire, which you can use to evaluate the volatility of the firm. Please confirm Canadian TireLimited's Mean Deviation of 0.6479, standard deviation of 0.9593, and insignificant Risk Adjusted Performance to double-check if the risk estimate we provide is consistent with the expected return of 0.0081%. The firm shows a Beta (market volatility) of 0.0794, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canadian TireLimited's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canadian TireLimited is expected to be smaller as well. Canadian TireLimited right now shows a risk of 0.94%. Please confirm Canadian TireLimited total risk alpha, potential upside, kurtosis, as well as the relationship between the treynor ratio and skewness , to decide if Canadian TireLimited will be following its price patterns.
Auto-correlation
-0.71
Almost perfect reverse predictability
Canadian Tire has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Canadian TireLimited time series from 8th of December 2024 to 23rd of December 2024 and 23rd of December 2024 to 7th of January 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 Canadian TireLimited price movement. The serial correlation of -0.71 indicates that around 71.0% of current Canadian TireLimited price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.71
Spearman Rank Test
-1.0
Residual Average
0.0
Price Variance
1.49
Canadian TireLimited lagged returns against current returns
Autocorrelation, which is Canadian TireLimited 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 Canadian TireLimited's stock expected returns. We can calculate the autocorrelation of Canadian TireLimited returns to help us make a trade decision. For example, suppose you find that Canadian TireLimited 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
Canadian TireLimited 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 Canadian TireLimited stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian TireLimited stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian TireLimited stock over time.
Current vs Lagged Prices
Timeline
Canadian TireLimited Lagged Returns
When evaluating Canadian TireLimited's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian TireLimited stock have on its future price. Canadian TireLimited 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, Canadian TireLimited autocorrelation shows the relationship between Canadian TireLimited stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Tire.
Canadian TireLimited financial ratios help investors to determine whether Canadian 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 Canadian with respect to the benefits of owning Canadian TireLimited security.