Conifex Timber Stock Market Value
| CFF Stock | CAD 0.38 0.04 9.52% |
| Symbol | Conifex |
Conifex Timber Price To Book Ratio
Conifex Timber '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 Conifex Timber'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 Conifex Timber.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Conifex Timber on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Conifex Timber or generate 0.0% return on investment in Conifex Timber over 360 days. Conifex Timber is related to or competes with Western Forest, Interfor Corp, Canfor Pulp, Canfor, and Acadian Timber. Conifex Timber Inc. primarily manufactures and sells lumber products in the United States, China, Canada, and Japan More
Conifex Timber 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 Conifex Timber'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 Conifex Timber upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.66 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 27.6 | |||
| Value At Risk | (8.00) | |||
| Potential Upside | 6.0 |
Conifex Timber Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Conifex Timber's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Conifex Timber's standard deviation. In reality, there are many statistical measures that can use Conifex Timber historical prices to predict the future Conifex Timber's volatility.| Risk Adjusted Performance | 0.015 | |||
| Jensen Alpha | 0.1635 | |||
| Total Risk Alpha | (0.71) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.03) |
Conifex Timber Backtested Returns
As of now, Conifex Stock is out of control. Conifex Timber secures Sharpe Ratio (or Efficiency) of 0.0165, which signifies that the company had a 0.0165% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Conifex Timber, which you can use to evaluate the volatility of the firm. Please confirm Conifex Timber's Risk Adjusted Performance of 0.015, downside deviation of 6.66, and Mean Deviation of 3.27 to double-check if the risk estimate we provide is consistent with the expected return of 0.0828%. Conifex Timber has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -1.15, which signifies a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning Conifex Timber are expected to decrease slowly. On the other hand, during market turmoil, Conifex Timber is expected to outperform it slightly. Conifex Timber right now shows a risk of 5.02%. Please confirm Conifex Timber total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to decide if Conifex Timber will be following its price patterns.
Auto-correlation | -0.17 |
Insignificant reverse predictability
Conifex Timber has insignificant reverse predictability. Overlapping area represents the amount of predictability between Conifex Timber time series from 9th of December 2023 to 6th of June 2024 and 6th of June 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 Conifex Timber price movement. The serial correlation of -0.17 indicates that over 17.0% of current Conifex Timber price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.17 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Conifex Timber lagged returns against current returns
Autocorrelation, which is Conifex Timber 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 Conifex Timber's stock expected returns. We can calculate the autocorrelation of Conifex Timber returns to help us make a trade decision. For example, suppose you find that Conifex Timber 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 |
Conifex Timber 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 Conifex Timber stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Conifex Timber stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Conifex Timber stock over time.
Current vs Lagged Prices |
| Timeline |
Conifex Timber Lagged Returns
When evaluating Conifex Timber's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Conifex Timber stock have on its future price. Conifex Timber 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, Conifex Timber autocorrelation shows the relationship between Conifex Timber stock current value and its past values and can show if there is a momentum factor associated with investing in Conifex Timber.
Regressed Prices |
| Timeline |
Pair Trading with Conifex Timber
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 Conifex Timber 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 Conifex Timber will appreciate offsetting losses from the drop in the long position's value.Moving together with Conifex Stock
The ability to find closely correlated positions to Conifex Timber could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Conifex Timber 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 Conifex Timber - 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 Conifex Timber to buy it.
The correlation of Conifex Timber 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 Conifex Timber moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Conifex Timber 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 Conifex Timber 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.Other Information on Investing in Conifex Stock
Conifex Timber financial ratios help investors to determine whether Conifex 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 Conifex with respect to the benefits of owning Conifex Timber security.