Waste Price Book Value Ratio from 2010 to 2024
| WCN Stock | CAD 271.42 0.59 0.22% |
Price Book Value Ratio | First Reported 2010-12-31 | Previous Quarter 4.99747973 | Current Value 2.64 | Quarterly Volatility 2.33612409 |
Check Waste Connections financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Waste Connections' main balance sheet or income statement drivers, such as Depreciation And Amortization of 1.1 B, Interest Expense of 288.4 M or Selling General Administrative of 829.5 M, as well as many indicators such as Price To Sales Ratio of 2.89, Dividend Yield of 0.0055 or PTB Ratio of 2.64. Waste financial statements analysis is a perfect complement when working with Waste Connections Valuation or Volatility modules.
Waste | Price Book Value Ratio |
Pair Trading with Waste Connections
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 Waste Connections 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 Waste Connections will appreciate offsetting losses from the drop in the long position's value.Moving together with Waste Stock
| 0.85 | JPM | JPMorgan Chase | PairCorr |
| 0.83 | BOFA | Bank of America | PairCorr |
| 0.7 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.79 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Waste Connections could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Waste Connections 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 Waste Connections - 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 Waste Connections to buy it.
The correlation of Waste Connections 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 Waste Connections moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Waste Connections 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 Waste Connections 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.Check out the analysis of Waste Connections Correlation against competitors. To learn how to invest in Waste Stock, please use our How to Invest in Waste Connections guide.You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.