Dye Durham Stock Market Value
| DND Stock | CAD 19.86 0.29 1.44% |
| Symbol | Dye |
Dye Durham Price To Book Ratio
Dye Durham '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 Dye Durham'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 Dye Durham.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Dye Durham on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Dye Durham or generate 0.0% return on investment in Dye Durham over 30 days. Dye Durham is related to or competes with Docebo, Enghouse Systems, Kinaxis, and Real Matters. Dye Durham Limited, through its subsidiary, Dye Durham Corporation, provides cloud-based software and technology solutio... More
Dye Durham 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 Dye Durham'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 Dye Durham upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.22 | |||
| Information Ratio | 0.1213 | |||
| Maximum Drawdown | 21.95 | |||
| Value At Risk | (4.01) | |||
| Potential Upside | 5.94 |
Dye Durham Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dye Durham's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dye Durham's standard deviation. In reality, there are many statistical measures that can use Dye Durham historical prices to predict the future Dye Durham's volatility.| Risk Adjusted Performance | 0.1199 | |||
| Jensen Alpha | 0.7025 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.1398 | |||
| Treynor Ratio | (0.47) |
Dye Durham Backtested Returns
Dye Durham appears to be somewhat reliable, given 3 months investment horizon. Dye Durham secures Sharpe Ratio (or Efficiency) of 0.18, which denotes the company had a 0.18% return per unit of standard deviation over the last 3 months. By reviewing Dye Durham's technical indicators, you can evaluate if the expected return of 0.66% is justified by implied risk. Please utilize Dye Durham's Semi Deviation of 2.66, mean deviation of 2.54, and Downside Deviation of 3.22 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Dye Durham holds a performance score of 13. The firm shows a Beta (market volatility) of -1.21, which means a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Dye Durham are expected to decrease by larger amounts. On the other hand, during market turmoil, Dye Durham is expected to outperform it. Please check Dye Durham's treynor ratio, expected short fall, and the relationship between the jensen alpha and potential upside , to make a quick decision on whether Dye Durham's price patterns will revert.
Auto-correlation | -0.53 |
Good reverse predictability
Dye Durham has good reverse predictability. Overlapping area represents the amount of predictability between Dye Durham time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 Dye Durham price movement. The serial correlation of -0.53 indicates that about 53.0% of current Dye Durham price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | -0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
Dye Durham lagged returns against current returns
Autocorrelation, which is Dye Durham 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 Dye Durham's stock expected returns. We can calculate the autocorrelation of Dye Durham returns to help us make a trade decision. For example, suppose you find that Dye Durham 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 |
Dye Durham 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 Dye Durham stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dye Durham stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dye Durham stock over time.
Current vs Lagged Prices |
| Timeline |
Dye Durham Lagged Returns
When evaluating Dye Durham's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dye Durham stock have on its future price. Dye Durham 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, Dye Durham autocorrelation shows the relationship between Dye Durham stock current value and its past values and can show if there is a momentum factor associated with investing in Dye Durham.
Regressed Prices |
| Timeline |
Pair Trading with Dye Durham
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 Dye Durham 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 Dye Durham will appreciate offsetting losses from the drop in the long position's value.Moving together with Dye Stock
The ability to find closely correlated positions to Dye Durham could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dye Durham 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 Dye Durham - 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 Dye Durham to buy it.
The correlation of Dye Durham 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 Dye Durham moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dye Durham 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 Dye Durham 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 Dye Stock
Dye Durham financial ratios help investors to determine whether Dye 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 Dye with respect to the benefits of owning Dye Durham security.