Candela Invest (Belgium) Market Value
| CAND Stock | EUR 1.20 0.00 0.00% |
| Symbol | Candela |
Candela Invest '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 Candela Invest'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 Candela Invest.
| 10/23/2024 |
| 12/22/2024 |
If you would invest 0.00 in Candela Invest on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Candela Invest SA or generate 0.0% return on investment in Candela Invest over 60 days. Candela Invest is related to or competes with Socit De, ABO, Floridienne, Scheerders Van, Viohalco, Iep Invest, and Brouwerij Handelsmaatschap. CANDELA INVEST is traded on Brussels Stock Exchange in Belgium. More
Candela Invest 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 Candela Invest'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 Candela Invest SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 58.44 |
Candela Invest Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Candela Invest's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Candela Invest's standard deviation. In reality, there are many statistical measures that can use Candela Invest historical prices to predict the future Candela Invest's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (1.06) | |||
| Total Risk Alpha | (1.25) | |||
| Treynor Ratio | (1.55) |
Candela Invest SA Backtested Returns
Candela Invest SA secures Sharpe Ratio (or Efficiency) of -0.14, which signifies that the company had a -0.14% return per unit of risk over the last 3 months. Candela Invest SA exposes sixteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Candela Invest's Standard Deviation of 7.27, risk adjusted performance of (0.10), and Mean Deviation of 2.0 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.67, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Candela Invest's returns are expected to increase less than the market. However, during the bear market, the loss of holding Candela Invest is expected to be smaller as well. At this point, Candela Invest SA has a negative expected return of -1.03%. Please make sure to confirm Candela Invest's maximum drawdown, kurtosis, and the relationship between the treynor ratio and skewness , to decide if Candela Invest SA performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.00 |
No correlation between past and present
Candela Invest SA has no correlation between past and present. Overlapping area represents the amount of predictability between Candela Invest time series from 23rd of October 2024 to 22nd of November 2024 and 22nd of November 2024 to 22nd 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 Candela Invest SA price movement. The serial correlation of 0.0 indicates that just 0.0% of current Candela Invest price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Candela Invest SA lagged returns against current returns
Autocorrelation, which is Candela Invest 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 Candela Invest's stock expected returns. We can calculate the autocorrelation of Candela Invest returns to help us make a trade decision. For example, suppose you find that Candela Invest 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 |
Candela Invest 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 Candela Invest stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Candela Invest stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Candela Invest stock over time.
Current vs Lagged Prices |
| Timeline |
Candela Invest Lagged Returns
When evaluating Candela Invest's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Candela Invest stock have on its future price. Candela Invest 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, Candela Invest autocorrelation shows the relationship between Candela Invest stock current value and its past values and can show if there is a momentum factor associated with investing in Candela Invest SA.
Regressed Prices |
| Timeline |
Pair Trading with Candela Invest
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 Candela Invest 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 Candela Invest will appreciate offsetting losses from the drop in the long position's value.Moving together with Candela Stock
| 0.84 | ABI | Anheuser Busch Inbev | PairCorr |
| 0.91 | GBLB | Groep Brussel Lambert | PairCorr |
| 0.65 | SOLB | Solvay SA | PairCorr |
| 0.84 | ELI | Elia Group SANV | PairCorr |
Moving against Candela Stock
The ability to find closely correlated positions to Candela Invest could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Candela Invest 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 Candela Invest - 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 Candela Invest SA to buy it.
The correlation of Candela Invest 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 Candela Invest moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Candela Invest SA 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 Candela Invest 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.Additional Tools for Candela Stock Analysis
When running Candela Invest's price analysis, check to measure Candela Invest'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 Candela Invest is operating at the current time. Most of Candela Invest's value examination focuses on studying past and present price action to predict the probability of Candela Invest's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Candela Invest's price. Additionally, you may evaluate how the addition of Candela Invest to your portfolios can decrease your overall portfolio volatility.