Canopy Growth Corp Stock Market Value
| CGC Stock | USD 3.90 0.04 1.02% |
| Symbol | Canopy |
Canopy Growth Corp Price To Book Ratio
Is Pharmaceuticals space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canopy Growth. If investors know Canopy will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canopy Growth listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (5.06) | Revenue Per Share 3.315 | Quarterly Revenue Growth (0.1) | Return On Assets (0.04) | Return On Equity (0.93) |
The market value of Canopy Growth Corp is measured differently than its book value, which is the value of Canopy that is recorded on the company's balance sheet. Investors also form their own opinion of Canopy Growth's value that differs from its market value or its book value, called intrinsic value, which is Canopy Growth's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canopy Growth's market value can be influenced by many factors that don't directly affect Canopy Growth's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canopy Growth's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canopy Growth is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canopy Growth'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.
Canopy Growth '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 Canopy Growth'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 Canopy Growth.
| 05/09/2023 |
| 11/29/2024 |
If you would invest 0.00 in Canopy Growth on May 9, 2023 and sell it all today you would earn a total of 0.00 from holding Canopy Growth Corp or generate 0.0% return on investment in Canopy Growth over 570 days. Canopy Growth is related to or competes with Century Aluminum, Titan International, Viemed Healthcare, Allegheny Technologies, Teleflex Incorporated, United States, and Microbot Medical. Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis... More
Canopy Growth 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 Canopy Growth'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 Canopy Growth Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 35.86 | |||
| Value At Risk | (6.81) | |||
| Potential Upside | 8.26 |
Canopy Growth Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canopy Growth's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canopy Growth's standard deviation. In reality, there are many statistical measures that can use Canopy Growth historical prices to predict the future Canopy Growth's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (1.19) | |||
| Treynor Ratio | 0.5753 |
Canopy Growth Corp Backtested Returns
Canopy Growth Corp secures Sharpe Ratio (or Efficiency) of -0.0528, which signifies that the company had a -0.0528% return per unit of risk over the last 3 months. Canopy Growth Corp exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Canopy Growth's Risk Adjusted Performance of (0.05), standard deviation of 5.09, and Mean Deviation of 3.48 to double-check the risk estimate we provide. 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, returns on owning Canopy Growth are expected to decrease at a much lower rate. During the bear market, Canopy Growth is likely to outperform the market. At this point, Canopy Growth Corp has a negative expected return of -0.27%. Please make sure to confirm Canopy Growth's skewness, rate of daily change, and the relationship between the value at risk and accumulation distribution , to decide if Canopy Growth Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.29 |
Weak reverse predictability
Canopy Growth Corp has weak reverse predictability. Overlapping area represents the amount of predictability between Canopy Growth time series from 9th of May 2023 to 18th of February 2024 and 18th of February 2024 to 29th of November 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 Canopy Growth Corp price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Canopy Growth price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 4.81 |
Canopy Growth Corp lagged returns against current returns
Autocorrelation, which is Canopy Growth 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 Canopy Growth's stock expected returns. We can calculate the autocorrelation of Canopy Growth returns to help us make a trade decision. For example, suppose you find that Canopy Growth 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 |
Canopy Growth 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 Canopy Growth stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canopy Growth stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canopy Growth stock over time.
Current vs Lagged Prices |
| Timeline |
Canopy Growth Lagged Returns
When evaluating Canopy Growth's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canopy Growth stock have on its future price. Canopy Growth 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, Canopy Growth autocorrelation shows the relationship between Canopy Growth stock current value and its past values and can show if there is a momentum factor associated with investing in Canopy Growth Corp.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Canopy Growth Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Canopy Growth's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Canopy Growth Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Canopy Growth Corp Stock:Check out Canopy Growth Correlation, Canopy Growth Volatility and Canopy Growth Alpha and Beta module to complement your research on Canopy Growth. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Canopy Growth 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.