Dollarama Stock Market Value
| DOL Stock | CAD 145.84 1.06 0.73% |
| Symbol | Dollarama |
Dollarama Price To Book Ratio
Dollarama '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 Dollarama'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 Dollarama.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Dollarama on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Dollarama or generate 0.0% return on investment in Dollarama over 30 days. Dollarama is related to or competes with Canadian Tire, Loblaw Companies, Metro, Canadian National, and Restaurant Brands. Its stores offer general merchandise, consumables, and seasonal items More
Dollarama 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 Dollarama'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 Dollarama upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.32 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 11.43 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 2.25 |
Dollarama Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dollarama's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dollarama's standard deviation. In reality, there are many statistical measures that can use Dollarama historical prices to predict the future Dollarama's volatility.| Risk Adjusted Performance | 0.0614 | |||
| Jensen Alpha | 0.0493 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.244 |
Dollarama Backtested Returns
As of now, Dollarama Stock is very steady. Dollarama secures Sharpe Ratio (or Efficiency) of 0.1, which denotes the company had a 0.1% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Dollarama, which you can use to evaluate the volatility of the firm. Please confirm Dollarama's Coefficient Of Variation of 1355.45, mean deviation of 0.9639, and Downside Deviation of 1.32 to check if the risk estimate we provide is consistent with the expected return of 0.15%. Dollarama has a performance score of 8 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.42, which means possible diversification benefits within a given portfolio. As returns on the market increase, Dollarama's returns are expected to increase less than the market. However, during the bear market, the loss of holding Dollarama is expected to be smaller as well. Dollarama right now shows a risk of 1.5%. Please confirm Dollarama total risk alpha, expected short fall, market facilitation index, as well as the relationship between the value at risk and daily balance of power , to decide if Dollarama will be following its price patterns.
Auto-correlation | -0.41 |
Modest reverse predictability
Dollarama has modest reverse predictability. Overlapping area represents the amount of predictability between Dollarama time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Dollarama price movement. The serial correlation of -0.41 indicates that just about 41.0% of current Dollarama price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | 0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 3.5 |
Dollarama lagged returns against current returns
Autocorrelation, which is Dollarama 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 Dollarama's stock expected returns. We can calculate the autocorrelation of Dollarama returns to help us make a trade decision. For example, suppose you find that Dollarama 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 |
Dollarama 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 Dollarama stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dollarama stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dollarama stock over time.
Current vs Lagged Prices |
| Timeline |
Dollarama Lagged Returns
When evaluating Dollarama's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dollarama stock have on its future price. Dollarama 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, Dollarama autocorrelation shows the relationship between Dollarama stock current value and its past values and can show if there is a momentum factor associated with investing in Dollarama.
Regressed Prices |
| Timeline |
Pair Trading with Dollarama
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 Dollarama 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 Dollarama will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Dollarama could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dollarama 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 Dollarama - 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 Dollarama to buy it.
The correlation of Dollarama 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 Dollarama moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dollarama 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 Dollarama 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 Dollarama Stock
Dollarama financial ratios help investors to determine whether Dollarama 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 Dollarama with respect to the benefits of owning Dollarama security.