Canadian Utilities Ltd Preferred Stock Market Value
| CU-PI Preferred Stock | CAD 24.76 0.11 0.45% |
| Symbol | Canadian |
Canadian Utilities '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 Canadian Utilities' preferred 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 Canadian Utilities.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Canadian Utilities on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Canadian Utilities Ltd or generate 0.0% return on investment in Canadian Utilities over 30 days. Canadian Utilities is related to or competes with VersaBank, Royal Bank, Bank of Nova Scotia, Bragg Gaming, Financial, Air Canada, and Gamehost. More
Canadian Utilities 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 Canadian Utilities' preferred 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 Canadian Utilities Ltd upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.649 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 3.69 | |||
| Value At Risk | (1.14) | |||
| Potential Upside | 1.2 |
Canadian Utilities Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Utilities' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Utilities' standard deviation. In reality, there are many statistical measures that can use Canadian Utilities historical prices to predict the future Canadian Utilities' volatility.| Risk Adjusted Performance | 0.0318 | |||
| Jensen Alpha | 0.0117 | |||
| Total Risk Alpha | (0.0003) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0691 |
Canadian Utilities Backtested Returns
Currently, Canadian Utilities Ltd is very steady. Canadian Utilities secures Sharpe Ratio (or Efficiency) of 0.0636, which signifies that the company had a 0.0636% return per unit of risk over the last 3 months. We have found thirty technical indicators for Canadian Utilities Ltd, which you can use to evaluate the volatility of the firm. Please confirm Canadian Utilities' Mean Deviation of 0.4148, risk adjusted performance of 0.0318, and Downside Deviation of 0.649 to double-check if the risk estimate we provide is consistent with the expected return of 0.0397%. Canadian Utilities has a performance score of 5 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.25, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canadian Utilities' returns are expected to increase less than the market. However, during the bear market, the loss of holding Canadian Utilities is expected to be smaller as well. Canadian Utilities right now shows a risk of 0.62%. Please confirm Canadian Utilities total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to decide if Canadian Utilities will be following its price patterns.
Auto-correlation | 0.67 |
Good predictability
Canadian Utilities Ltd has good predictability. Overlapping area represents the amount of predictability between Canadian Utilities time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 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 Canadian Utilities price movement. The serial correlation of 0.67 indicates that around 67.0% of current Canadian Utilities price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Canadian Utilities lagged returns against current returns
Autocorrelation, which is Canadian Utilities preferred 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 Canadian Utilities' preferred stock expected returns. We can calculate the autocorrelation of Canadian Utilities returns to help us make a trade decision. For example, suppose you find that Canadian Utilities has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Canadian Utilities 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 Canadian Utilities preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Utilities preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Utilities preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Utilities Lagged Returns
When evaluating Canadian Utilities' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Utilities preferred stock have on its future price. Canadian Utilities 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, Canadian Utilities autocorrelation shows the relationship between Canadian Utilities preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Utilities Ltd.
Regressed Prices |
| Timeline |
Pair Trading with Canadian Utilities
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 Canadian Utilities 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 Canadian Utilities will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Canadian Utilities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Utilities 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 Canadian Utilities - 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 Canadian Utilities Ltd to buy it.
The correlation of Canadian Utilities 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 Canadian Utilities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Utilities 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 Canadian Utilities 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 Canadian Preferred Stock Analysis
When running Canadian Utilities' price analysis, check to measure Canadian Utilities' 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 Canadian Utilities is operating at the current time. Most of Canadian Utilities' value examination focuses on studying past and present price action to predict the probability of Canadian Utilities' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Utilities' price. Additionally, you may evaluate how the addition of Canadian Utilities to your portfolios can decrease your overall portfolio volatility.