Goeasy Stock Market Value
| GSY Stock | CAD 171.70 0.83 0.49% |
| Symbol | Goeasy |
goeasy Price To Book Ratio
Goeasy '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 Goeasy'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 Goeasy.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Goeasy on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding goeasy or generate 0.0% return on investment in Goeasy over 360 days. Goeasy is related to or competes with Quorum Information, Data Communications, Wishpond Technologies, Calian Technologies, Hemisphere Energy, Northstar Clean, and Totally Hip. goeasy Ltd. provides loans and other financial services to consumers in Canada More
Goeasy 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 Goeasy'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 goeasy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 12.18 | |||
| Value At Risk | (3.00) | |||
| Potential Upside | 2.82 |
Goeasy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goeasy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goeasy's standard deviation. In reality, there are many statistical measures that can use Goeasy historical prices to predict the future Goeasy's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.40) | |||
| Treynor Ratio | (0.27) |
goeasy Backtested Returns
goeasy holds Efficiency (Sharpe) Ratio of -0.0492, which attests that the entity had a -0.0492% return per unit of risk over the last 3 months. goeasy exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Goeasy's Market Risk Adjusted Performance of (0.26), standard deviation of 1.85, and Risk Adjusted Performance of (0.04) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.47, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Goeasy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Goeasy is expected to be smaller as well. At this point, goeasy has a negative expected return of -0.0905%. Please make sure to check out Goeasy's potential upside, and the relationship between the total risk alpha and daily balance of power , to decide if goeasy performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.64 |
Very good reverse predictability
goeasy has very good reverse predictability. Overlapping area represents the amount of predictability between Goeasy time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd 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 goeasy price movement. The serial correlation of -0.64 indicates that roughly 64.0% of current Goeasy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.64 | |
| Spearman Rank Test | -0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 59.05 |
goeasy lagged returns against current returns
Autocorrelation, which is Goeasy 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 Goeasy's stock expected returns. We can calculate the autocorrelation of Goeasy returns to help us make a trade decision. For example, suppose you find that Goeasy 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 |
Goeasy 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 Goeasy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goeasy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goeasy stock over time.
Current vs Lagged Prices |
| Timeline |
Goeasy Lagged Returns
When evaluating Goeasy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goeasy stock have on its future price. Goeasy 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, Goeasy autocorrelation shows the relationship between Goeasy stock current value and its past values and can show if there is a momentum factor associated with investing in goeasy.
Regressed Prices |
| Timeline |
Pair Trading with Goeasy
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 Goeasy 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 Goeasy will appreciate offsetting losses from the drop in the long position's value.Moving against Goeasy Stock
| 0.57 | FFH-PD | Fairfax Financial | PairCorr |
| 0.53 | FFH-PF | Fairfax Financial | PairCorr |
| 0.52 | FFH | Fairfax Financial | PairCorr |
| 0.52 | FFH-PH | Fairfax Financial | PairCorr |
| 0.52 | FFH-PE | Fairfax Financial | PairCorr |
The ability to find closely correlated positions to Goeasy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goeasy 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 Goeasy - 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 goeasy to buy it.
The correlation of Goeasy 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 Goeasy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if goeasy 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 Goeasy 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 Goeasy Stock
Goeasy financial ratios help investors to determine whether Goeasy 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 Goeasy with respect to the benefits of owning Goeasy security.