Cameco Corp Stock Market Value

CCO Stock  CAD 83.56  0.89  1.08%   
Cameco Corp's market value is the price at which a share of Cameco Corp trades on a public exchange. It measures the collective expectations of Cameco Corp investors about its performance. Cameco Corp is selling at 83.56 as of the 4th of December 2024; that is 1.08% increase since the beginning of the trading day. The stock's open price was 82.67.
With this module, you can estimate the performance of a buy and hold strategy of Cameco Corp and determine expected loss or profit from investing in Cameco Corp over a given investment horizon. Check out Cameco Corp Correlation, Cameco Corp Volatility and Cameco Corp Alpha and Beta module to complement your research on Cameco Corp.
To learn how to invest in Cameco Stock, please use our How to Invest in Cameco Corp guide.
Symbol

Cameco Corp Price To Book Ratio

Please note, there is a significant difference between Cameco Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cameco Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cameco Corp'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.

Cameco 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 Cameco 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 Cameco Corp.
0.00
10/05/2024
No Change 0.00  0.0 
In 2 months and 2 days
12/04/2024
0.00
If you would invest  0.00  in Cameco Corp on October 5, 2024 and sell it all today you would earn a total of 0.00 from holding Cameco Corp or generate 0.0% return on investment in Cameco Corp over 60 days. Cameco Corp is related to or competes with Denison Mines, Barrick Gold, First Quantum, Kinross Gold, and Agnico Eagle. The company operates in two segments, Uranium and Fuel Services More

Cameco 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 Cameco 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 Cameco Corp upside and downside potential and time the market with a certain degree of confidence.

Cameco Corp Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Cameco Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cameco Corp's standard deviation. In reality, there are many statistical measures that can use Cameco Corp historical prices to predict the future Cameco Corp's volatility.
Hype
Prediction
LowEstimatedHigh
81.0683.4885.90
Details
Intrinsic
Valuation
LowRealHigh
75.2089.4591.87
Details
Naive
Forecast
LowNextHigh
80.4482.8685.28
Details
Earnings
Estimates (0)
LowProjected EPSHigh
0.070.140.19
Details

Cameco Corp Backtested Returns

Cameco Corp appears to be very steady, given 3 months investment horizon. Cameco Corp secures Sharpe Ratio (or Efficiency) of 0.33, which signifies that the company had a 0.33% return per unit of risk over the last 3 months. By analyzing Cameco Corp's technical indicators, you can evaluate if the expected return of 0.79% is justified by implied risk. Please makes use of Cameco Corp's Mean Deviation of 1.91, downside deviation of 2.32, and Risk Adjusted Performance of 0.205 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Cameco Corp holds a performance score of 25. The firm shows a Beta (market volatility) of 0.73, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cameco Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cameco Corp is expected to be smaller as well. Please check Cameco Corp's jensen alpha, potential upside, accumulation distribution, as well as the relationship between the treynor ratio and expected short fall , to make a quick decision on whether Cameco Corp's price patterns will revert.

Auto-correlation

    
  0.28  

Poor predictability

Cameco Corp has poor predictability. Overlapping area represents the amount of predictability between Cameco Corp time series from 5th of October 2024 to 4th of November 2024 and 4th of November 2024 to 4th 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 Cameco Corp price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current Cameco Corp price fluctuation can be explain by its past prices.
Correlation Coefficient0.28
Spearman Rank Test0.43
Residual Average0.0
Price Variance21.64

Cameco Corp lagged returns against current returns

Autocorrelation, which is Cameco 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 Cameco Corp's stock expected returns. We can calculate the autocorrelation of Cameco Corp returns to help us make a trade decision. For example, suppose you find that Cameco 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  

Cameco 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 Cameco Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cameco Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cameco Corp stock over time.
   Current vs Lagged Prices   
       Timeline  

Cameco Corp Lagged Returns

When evaluating Cameco Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cameco Corp stock have on its future price. Cameco 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, Cameco Corp autocorrelation shows the relationship between Cameco Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Cameco Corp.
   Regressed Prices   
       Timeline  

Pair Trading with Cameco Corp

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 Cameco Corp 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 Cameco Corp will appreciate offsetting losses from the drop in the long position's value.

Moving together with Cameco Stock

  0.95ENB-PFV Enbridge Pref 5PairCorr
  0.76ENB-PFU Enbridge Pref LPairCorr
  0.9ENS E Split CorpPairCorr
  0.81ENS-PA E Split CorpPairCorr

Moving against Cameco Stock

  0.65SAGE Sage Potash CorpPairCorr
The ability to find closely correlated positions to Cameco Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cameco Corp 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 Cameco Corp - 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 Cameco Corp to buy it.
The correlation of Cameco Corp 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 Cameco Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cameco Corp 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 Cameco Corp 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.
Pair CorrelationCorrelation Matching
When determining whether Cameco Corp is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Cameco Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Cameco Corp Stock. Highlighted below are key reports to facilitate an investment decision about Cameco Corp Stock:
Check out Cameco Corp Correlation, Cameco Corp Volatility and Cameco Corp Alpha and Beta module to complement your research on Cameco Corp.
To learn how to invest in Cameco Stock, please use our How to Invest in Cameco Corp guide.
You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Cameco Corp technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Cameco Corp technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Cameco Corp trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...