Cit Group Preferred Preferred Stock Market Value
| FCNCO Preferred Stock | USD 23.39 0.17 0.72% |
| Symbol | CIT |
CIT Group '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 CIT Group's 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 CIT Group.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in CIT Group on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding CIT Group Preferred or generate 0.0% return on investment in CIT Group over 360 days. CIT Group is related to or competes with First Citizens, Texas Capital, Dime Community, Fifth Third, and Fulton Financial. First Citizens BancShares, Inc. operates as the holding company for First-Citizens Bank Trust Company that provides reta... More
CIT Group 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 CIT Group's 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 CIT Group Preferred upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7186 | |||
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 3.39 | |||
| Value At Risk | (1.19) | |||
| Potential Upside | 1.44 |
CIT Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CIT Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CIT Group's standard deviation. In reality, there are many statistical measures that can use CIT Group historical prices to predict the future CIT Group's volatility.| Risk Adjusted Performance | 0.0359 | |||
| Jensen Alpha | 0.0179 | |||
| Total Risk Alpha | (0.10) | |||
| Sortino Ratio | (0.14) | |||
| Treynor Ratio | 0.4257 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CIT Group's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
CIT Group Preferred Backtested Returns
As of now, CIT Preferred Stock is very steady. CIT Group Preferred secures Sharpe Ratio (or Efficiency) of 0.059, which signifies that the company had a 0.059% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for CIT Group Preferred, which you can use to evaluate the volatility of the firm. Please confirm CIT Group's risk adjusted performance of 0.0359, and Mean Deviation of 0.5896 to double-check if the risk estimate we provide is consistent with the expected return of 0.0448%. CIT Group has a performance score of 4 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.06, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CIT Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding CIT Group is expected to be smaller as well. CIT Group Preferred now shows a risk of 0.76%. Please confirm CIT Group Preferred semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if CIT Group Preferred will be following its price patterns.
Auto-correlation | 0.59 |
Modest predictability
CIT Group Preferred has modest predictability. Overlapping area represents the amount of predictability between CIT Group time series from 8th of December 2023 to 5th of June 2024 and 5th of June 2024 to 2nd 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 CIT Group Preferred price movement. The serial correlation of 0.59 indicates that roughly 59.0% of current CIT Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.59 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 1.01 |
CIT Group Preferred lagged returns against current returns
Autocorrelation, which is CIT Group 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 CIT Group's preferred stock expected returns. We can calculate the autocorrelation of CIT Group returns to help us make a trade decision. For example, suppose you find that CIT Group 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 |
CIT Group 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 CIT Group preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CIT Group preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CIT Group preferred stock over time.
Current vs Lagged Prices |
| Timeline |
CIT Group Lagged Returns
When evaluating CIT Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CIT Group preferred stock have on its future price. CIT Group 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, CIT Group autocorrelation shows the relationship between CIT Group preferred stock current value and its past values and can show if there is a momentum factor associated with investing in CIT Group Preferred.
Regressed Prices |
| Timeline |
Pair Trading with CIT Group
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 CIT Group 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 CIT Group will appreciate offsetting losses from the drop in the long position's value.Moving against CIT Preferred Stock
| 0.4 | BY | Byline Bancorp Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.39 | AX | Axos Financial | PairCorr |
| 0.37 | WABC | Westamerica Bancorporation Fiscal Year End 16th of January 2025 | PairCorr |
| 0.34 | PB | Prosperity Bancshares Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.32 | EFSC | Enterprise Financial Fiscal Year End 27th of January 2025 | PairCorr |
The ability to find closely correlated positions to CIT Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CIT Group 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 CIT Group - 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 CIT Group Preferred to buy it.
The correlation of CIT Group 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 CIT Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CIT Group Preferred 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 CIT Group 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 CIT Preferred Stock
CIT Group financial ratios help investors to determine whether CIT Preferred 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 CIT with respect to the benefits of owning CIT Group security.