Greenlane Renewables Stock Market Value
| GRN Stock | CAD 0.11 0.01 10.00% |
| Symbol | Greenlane |
Greenlane Renewables Price To Book Ratio
Greenlane Renewables '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 Greenlane Renewables' 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 Greenlane Renewables.
| 11/16/2024 |
| 12/16/2024 |
If you would invest 0.00 in Greenlane Renewables on November 16, 2024 and sell it all today you would earn a total of 0.00 from holding Greenlane Renewables or generate 0.0% return on investment in Greenlane Renewables over 30 days. Greenlane Renewables is related to or competes with Alphabet, Microsoft Corp, Tesla, INTEL CDR, NIKE, QUALCOMM Incorporated, and PayPal Holdings. Greenlane Renewables Inc. designs, develops, sells, and services a range of biogas upgrading systems worldwide More
Greenlane Renewables 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 Greenlane Renewables' 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 Greenlane Renewables upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 10.26 | |||
| Information Ratio | 0.1079 | |||
| Maximum Drawdown | 66.18 | |||
| Value At Risk | (7.69) | |||
| Potential Upside | 13.33 |
Greenlane Renewables Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Greenlane Renewables' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Greenlane Renewables' standard deviation. In reality, there are many statistical measures that can use Greenlane Renewables historical prices to predict the future Greenlane Renewables' volatility.| Risk Adjusted Performance | 0.0959 | |||
| Jensen Alpha | 0.8891 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.0904 | |||
| Treynor Ratio | 0.7171 |
Greenlane Renewables Backtested Returns
Greenlane Renewables is out of control given 3 months investment horizon. Greenlane Renewables holds Efficiency (Sharpe) Ratio of 0.12, which attests that the entity had a 0.12% return per unit of risk over the last 3 months. We were able to interpolate twenty-eight different technical indicators, which can help you to evaluate if expected returns of 1.05% are justified by taking the suggested risk. Use Greenlane Renewables Downside Deviation of 10.26, market risk adjusted performance of 0.7271, and Risk Adjusted Performance of 0.0959 to evaluate company specific risk that cannot be diversified away. Greenlane Renewables holds a performance score of 9 on a scale of zero to a hundred. The company retains a Market Volatility (i.e., Beta) of 1.42, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Greenlane Renewables will likely underperform. Use Greenlane Renewables information ratio, downside variance, day median price, as well as the relationship between the treynor ratio and kurtosis , to analyze future returns on Greenlane Renewables.
Auto-correlation | 0.67 |
Good predictability
Greenlane Renewables has good predictability. Overlapping area represents the amount of predictability between Greenlane Renewables time series from 16th of November 2024 to 1st of December 2024 and 1st of December 2024 to 16th 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 Greenlane Renewables price movement. The serial correlation of 0.67 indicates that around 67.0% of current Greenlane Renewables price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Greenlane Renewables lagged returns against current returns
Autocorrelation, which is Greenlane Renewables 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 Greenlane Renewables' stock expected returns. We can calculate the autocorrelation of Greenlane Renewables returns to help us make a trade decision. For example, suppose you find that Greenlane Renewables 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 |
Greenlane Renewables 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 Greenlane Renewables stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Greenlane Renewables stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Greenlane Renewables stock over time.
Current vs Lagged Prices |
| Timeline |
Greenlane Renewables Lagged Returns
When evaluating Greenlane Renewables' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Greenlane Renewables stock have on its future price. Greenlane Renewables 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, Greenlane Renewables autocorrelation shows the relationship between Greenlane Renewables stock current value and its past values and can show if there is a momentum factor associated with investing in Greenlane Renewables.
Regressed Prices |
| Timeline |
Pair Trading with Greenlane Renewables
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 Greenlane Renewables 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 Greenlane Renewables will appreciate offsetting losses from the drop in the long position's value.Moving against Greenlane Stock
The ability to find closely correlated positions to Greenlane Renewables could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Greenlane Renewables 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 Greenlane Renewables - 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 Greenlane Renewables to buy it.
The correlation of Greenlane Renewables 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 Greenlane Renewables moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Greenlane Renewables 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 Greenlane Renewables 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 Greenlane Stock
Greenlane Renewables financial ratios help investors to determine whether Greenlane 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 Greenlane with respect to the benefits of owning Greenlane Renewables security.